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Look Beyond the Headline on the Inflation Number

By Jim Cramer

 About this article:
 The headline's scary as all get-out: "Jump in Wholesale Prices Shows That Inflation Remains High." No way that interest rates would be going down on that. No way we should be thinking of anything but a tightening by the Fed. But neither is the case. Rates are going down. The Fed's not going to do anything, it is scared of its own shadow and is -- as usual -- paralyzed about the big issue of the day, house price depreciation. Which brings me to the index itself, the one that "soared" the worst in 27 years. I am never a top-down guy, I am a bottom-up guy, and if you break down the components that screamed higher, you will understand why inflation has not only peaked but is coming down hard. First, the big issue, before we even get to the index, the most important component in...

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