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US Inflation Rate vs US Resident Patent Applications

US Inflation Rate and US Resident Patent Applications correlate at r = -0.53 over 42 years (1980–2021), p = 3.5e-4. With the time trend removed, r = +0.27. Holds up after detrending.

Verdict: Holds up after detrending. Statistically significant (p = 3.5e-4) and the association survives trend removal (detrended r = 0.27). Correlation still isn't causation, but this one isn't an obvious artifact.

Pearson r
-0.53
p-value
3.5e-4
Years compared (n)
42 (1980–2021)
95% confidence interval
-0.72 to -0.26
Correlation with the time trend removed
+0.27

Sources

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Correlation does not imply causation. How the verdict is worked out.