We do see a little bit of falloff in, in energy prices, but I'm not so sure that it's, it's enough, frankly, to, to move the needle. So I think that we could be in a sustained period for a while... they may actually, you know, break even. Right. Meaning rents go up by so much oil goes down by so much they cancel and we're still at nine.View on YouTube
The July 2022 U.S. CPI (headline, year‑over‑year) came in at 8.5%, released by the Bureau of Labor Statistics on August 10, 2022, down from 9.1% in June 2022. Public reporting on the release notes that inflation "slowed" and that the 8.5% figure was below June’s 9.1% reading, driven largely by a drop in gasoline prices while shelter and food continued to rise.
Because Chamath’s prediction was that the July 2022 CPI print would be “still at nine” / "around" the June value (9.1%) with energy declines offset by rent increases, this is meaningfully off the actual result. A 0.6 percentage point decline from 9.1% to 8.5% is a sizable move for headline CPI and contradicts the forecast of being roughly unchanged near 9%.
Therefore the prediction is wrong.