***The complete post is on NewsBusters***
Inflation fell .6 percent in July and CBS Morning was treating the news like it marked the end to the Great Depression. With gas prices still way above where they were last year and people still paying through the nose for basic necessities, on Wednesday, CBS business analyst Jill Schlesinger joyously proclaimed that inflation had “peaked” and spewed the Big Lie that America was not experiencing a textbook recession.
Early in the show, fill-in host Nancy Cordes announced “the once-soaring gas prices that are falling fast” with “the average nationwide cost for a gallon of regular is about $1 cheaper than it was just in mid-June.” She also asserted that “it's a sign that overall inflation may have peaked.”
Correspondent Erroll Barnett was standing outside a gas station in Alexandria, Virginia and remarked “that this is typically a place of stress and anxiety for most Americans, right? But these days the vibe is much more calm[.]” But he did admit it was “relative” since “a regular gallon of gas is $1 more expensive than a year ago but $1 less expensive than two months ago.”
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