BREAKING: December CPI inflation rate RISES to 3.4%, above expectations of 3.2%

Gaius · 2024-02-13T17:04:03.218Z

Good!

Then the Fed Board can cancel the rest of it’s decisions this year, shut down, go home and let the free market adjust to a clear, transparent, steady set of policies.

Sarcasm aside:
the pres and Congress have little to do with inflation compared to the Fed. Inflation is primarily a function of money supply. Borrowing money from bond investors, and giving it to rich TESLA owners and windmill companies has little effect on CPI.

Gaius · 2024-02-13T22:11:25.849Z

In case it matters:
Econ professor & Senior Policy Director for the Committee for a Responsible Federal Budget, says
“If you were to remove the effects of fuel prices, this January’s inflation number would be higher than last January’s.”

Put differently:
Inflation is rising, not falling, but thankfully that has been offset by a nice increase in oil supply.

Gaius · 2024-02-13T22:24:02.044Z

Fact check:
Mostly true!

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Eagle-Keeper · 2024-02-16T14:07:48.367Z

Gaius:

3.4% total CPI isn’t bad right?
I mean it works out to what about 9 working days per year.

If you didn’t get a pay increase this year, all you have to do is cancel 9 of your ten vacation days this year and you’ll break even.

Looks like PPI was higher than expected:

CNBC – 16 Feb 24

January wholesale prices rise more than expected, another sign of persistent...

The producer price index was expected to increase 0.1% in January, according to economists surveyed by Dow Jones.

Zippy · 2024-02-16T14:17:34.043Z

And….

Let’s not forget that 30 year mortgage rate rose to 6.77% yesterday.

Way to price people out of the housing market mumbling joe.

Eagle-Keeper · 2024-03-12T14:30:02.094Z

Here’s today’s report:

CNBC – 12 Mar 24

Consumer prices rose 0.4% in February and 3.2% from a year ago

Inflation rose again in February, keeping the Fed on course to wait at least until the summer before starting to lower interest rates.

Seems to holding around these levels lately.

Rodeo · 2024-03-12T14:39:49.896Z

So how much less is our money worth now than when clueless Joe took office?

The higher than it used to be inflation rate today is just getting stacked on top of the 9% from a couple in years ago.

What is it, a bunch if you are way better at economics than I am…

I have roughly 20% less buying power than I used to is that right?

Gaius · 2024-03-13T12:25:40.900Z

As of this writing (Mar 2024) inflation remains at 3.1%
That is unchanged since the thread began and roughly 1.5x the Fed’s target.

Shelter inflation remains 5.8%, and it is unlikely the Fed can meet its target so long as it remains that high.

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Eagle-Keeper · 2024-03-13T12:35:41.923Z

I would assume that flooding the country with 10 million more bodies will not bring that cost down?

Gaius · 2024-03-13T12:46:36.126Z

Eagle-Keeper:

I would assume that flooding the country with 10 million more bodies will not bring that cost down?

Flooding the country with immigrants definitely makes housing prices grow more quickly than wages.

Rodeo · 2024-03-13T12:49:10.707Z

Eagle-Keeper:

I would assume that flooding the country with 10 million more bodies will not bring that cost down?

I would assume that’s a stupid idea for a variety of reasons.

Pretty much the only things the American people seem to have more of under the Biden Harris administration is inflation, debt, and illegal immigrants.

Great record up run on…

Gaius · 2024-03-13T12:56:14.570Z

Typically (since 1955)

Shelter inflation (green line below)
run about the same as overall inflation (blue line below)

Right now is one of roughly one of 6 periods when it is higher than overall inflation.

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Note also that the one time home prices actually declined (red arrow) the decline was relatively modest but, it was pretty scary at the time.

Gaius · 2024-03-13T13:11:36.829Z

At the risk of getting too detailed:

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Shelter inflation, though coming down recently is still 5.8%,
far higher than the postwar norm.

Kids just starting out frequently pay as much as half their income on shelter, so, this is really crushing the kids (again.)

Eagle-Keeper · 2024-04-10T12:41:26.869Z

Today’s report is much of the same:

MarketWatch

CPI report for March: Dow futures fall over 450 points after...

Follow the U.S. CPI report and all the latest market action on Wednesday here.

Eagle-Keeper · 2024-04-10T12:48:36.839Z

Here’s another take on this:

Forbes

Inflation Worse Than Expected In March—Again

On a seasonally adjusted basis, headline and core inflation each rose 0.4% from February to March, topping estimates of 0.3% for both.

Zippy · 2024-04-10T13:37:05.837Z

CPI rises to 3.5

https://www.newsmax.com/finance/streettalk/inflation-gas-rent/2024/04/10/id/1160427/

Guess can kiss goodbye any interest rate drops anytime soon.

Way to go Brandon and lefties.

Zippy · 2024-04-10T13:39:59.272Z

Markets been open less that 10 minutes and down over 400 points.

Good job lefties.

Zippy · 2024-04-10T13:42:58.544Z

Gas prices ip 50% under biden.

https://www.newsmax.com/us/gasoline-joe-biden-donald-trump/2024/04/09/id/1160366/

Attaboy lefties, destroy that economy.

Gaius · 2024-04-10T14:00:49.523Z

March CPI – 0.4% is one-third higher than expected.

It works out to 4.8% annually
Up significantly from 3.5% ttm and more than twice the Fed’s target.

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But hey who cares about 4.8% plus 3.5%?
I mean we’re all getting 8-plus percent pay increases every 2 years, right?

Zippy · 2024-04-10T14:17:25.058Z

Gaius:

But hey who cares about 4.8% plus 3.5%?
I mean we’re all getting 8-plus percent pay increases every 2 years, right?

What is really sad is that this was all by design.