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Data: Google; Chart: Axios Visuals

Google searches for "inflation" and "hyperinflation" are running at less than a fifth of their early-May highs.

Why it matters: Worry about inflation can be a good thing, economically, if it brings forward spending that would otherwise have been delayed. But it can also become self-fulfilling, at least in theory.

The big picture: It's been so long that inflation was a real problem that you can forgive Americans for wanting to look it up.

The bottom line: Searches on "inflation" are driven more by media handwringing than they are by actual retail prices.

Go deeper

Oct 15, 2021 - Podcasts

Inflation: A cause for concern?

Inflation: A cause for concern? The global energy crisis is becoming a bigger problem for the economy. The Consumer Price Index — the best way to measure inflation in the U.S. — jumped 5.4 percent compared to last year in September, according to new data released this week. How is the Federal Reserve and the Biden administration reacting to this latest news?

Axios Re:Cap talks with Axios’ chief financial correspondent Felix Salmon who’s been reporting on the latest news.

This is what a profit margin squeeze looks like

Expand chart
Data: U.S. Bureau of Labor Statistics; Chart: Jared Whalen/Axios

Two inflation indexes out this week, taken together, show how companies’ margins are getting squeezed.

Why it matters: Corporate earnings growth, while still historically high, is receding from record second-quarter levels. Margins will be a huge focus during Q3 earnings calls this month.

Updated 49 mins ago - Politics & Policy

Congressman criminally charged with lying to feds

Rep. Jeff Fortenberry. Photo: Al Drago/Bloomberg via Getty Images

Rep. Jeff Fortenberry (R-Neb.) has been indicted on charges he falsified records and lied to federal investigators probing an illegal foreign donation scheme, the Justice Department announced on Tuesday.

Driving the news: DOJ says a Fortenberry associate, who later cooperated with investigators, informed him he'd likely received illegal donations from an intermediary for a foreign national, but that Fortenberry denied any knowledge of such a scheme when contacted by the FBI.