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U.S. consumer prices rise 0.4% in January
Marketwatch ^ | 2.17.11 | Jeffry Bartash

Posted on 02/17/2011 6:06:18 AM PST by Free Vulcan

WASHINGTON (MarketWatch) — The prices that American consumers pay for goods and services rose a seasonally adjusted 0.4% in January, mainly because of higher gas and grocery expenses, according to the latest government data.

More than two-thirds of the increase in consumer prices last month stemmed from food and energy, the Labor Department reported Thursday.

Yet “core” consumer prices rose a lesser 0.2%. The core data strips out volatile food and energy costs that can make overall inflationary pressure in the economy to seem higher or lower than it actually is.

Economists surveyed by MarketWatch had forecast the consumer price index to rise 0.3% overall, with a 0.1% increase in the core rate.

Consumer prices fell sharply in 2010, and over the last 12 months they are up just 1.6% despite recent increases in food and energy costs.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events
KEYWORDS: energy; food; inflation; price
Still relatively tame but slightly higher than thought. Not a huge effect on the market right now.
1 posted on 02/17/2011 6:06:20 AM PST by Free Vulcan
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To: Free Vulcan

As long as you do not include food and energy - you can come up with any number.

Food and energy have gone up huge.


2 posted on 02/17/2011 6:09:13 AM PST by artificial intelligence (Your data will be processed by me for future input. Thank you.)
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To: Free Vulcan

Anyone believe this, the unemployment numbers or any other damn thing this gub mint tells us is a fool.


3 posted on 02/17/2011 6:18:21 AM PST by Joe Boucher ((FUBO))
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To: artificial intelligence

I was if you figured inflation the same way as they did back in the Carter era it would be running at 10% and I believe it.
Most of my funds go to purchasing food and energy. Not much is left to spend on energy left.


4 posted on 02/17/2011 6:18:33 AM PST by Rodm
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To: artificial intelligence

Yes, as long as the gov excludes those goods that have risen in price over the last year, some as much as 70%, there is little, or no, inflation.

Move along.


5 posted on 02/17/2011 6:18:33 AM PST by NOVACPA
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To: Free Vulcan

Oh, beef byproducts!!! Walmart raised prices on basic grocery items by 5 to 10%. Gasoline is anywhere from 3.05 to 3.15. Their “marketbasket” is skewed by items a typical family CANNOT AFFORD. Less than 1/2 percent is bull$hirt.


6 posted on 02/17/2011 6:25:25 AM PST by NonValueAdded (Palin 2012: don't retreat, just restock [chg'd to comply w/ The Civility in Discourse Act of 2011])
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To: artificial intelligence

I know it’s not common for people to read past the headline, but they should at least glance at the first sentence.


7 posted on 02/17/2011 6:29:18 AM PST by 1rudeboy
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To: NonValueAdded; All

We saw this bed sheet set at Target the other day listed as 89.99. When we got it, it rang up as 99.99.

They gave it to us for 89 but apparently were in the process of raising prices on some items.

That is not a small price increase. That’s huge....$10!!! Now I don’t know if this is a common thing or if it’s just a few items that were cheaper for some reason, but if the former we have some real inflation issues just bubbling up.


8 posted on 02/17/2011 6:30:41 AM PST by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: rwfromkansas

Paid almost $4 for a freaking carton of cherry tomatoes yesterday. That was a shocking price. It seems everything has gone up about .50 or more.


9 posted on 02/17/2011 6:33:04 AM PST by LibsRJerks
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To: Free Vulcan

All well and good but has “Anybody gone into Whole Foods lately and see what they charge for arugula?”—Barack Insane Obunghole


10 posted on 02/17/2011 6:33:48 AM PST by Yankee (Welcome to Obama's Fourth Reich.)
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To: artificial intelligence

Yep, inflation sure is under control except for three things: food, clothing, and shelter. Just learn to do without those and you’ll be fine. Yet another wonderful facet of Obamanation.


11 posted on 02/17/2011 6:36:23 AM PST by chimera
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To: 1rudeboy
I think the noob may have misspelled his first name.
12 posted on 02/17/2011 6:36:57 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: 1rudeboy

And the third sentence...


13 posted on 02/17/2011 6:39:51 AM PST by ltc8k6
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To: LibsRJerks

Produce is a special issue right now, especially tomatoes. We get a lot of ours from Mexico, and the massive global warming we had that caused it to snow in Dallas and Houston also caused widespread hard freezes and total crop failures south of the border. Certain produce items like tomatoes are going to skyrocket in price for the next few months because the supply has been severely reduced.

That having been said, these numbers are bullcrap. Food has been moving steadily upward for months—and if the prices aren’t going up, the sizes are going down. Anybody who actually goes to a supermarket can clearly see it. We’ve been noticing it for over a year now. Anything involving grain is getting more expensive as more land is switched over to growing corn for ethanol, thank you Al Gore.

}:-)4


14 posted on 02/17/2011 6:46:17 AM PST by Moose4 ("By all that you hold dear on this good Earth, I bid you stand, Men of the West!")
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To: LibsRJerks

Tomato prices are up because of the freeze in Florida and Mexico. (Simply pointing out that not all price increases are due to inflation). They’ll come down again next harvest.


15 posted on 02/17/2011 6:47:40 AM PST by 1rudeboy
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To: Free Vulcan

“The core data strips out volatile food and energy costs that can make overall inflationary pressure in the economy to seem higher or lower than it actually is. “

Don’t worry folks, it only “seems” like you are paying more for stuff.


16 posted on 02/17/2011 6:51:13 AM PST by headstamp 2 ("My Boss is a Jewish Carpenter")
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To: Joe Boucher

You’ve got that right. 0.4% per month, means 4.8% for the year. It’s probably double that, maybe more. I noted this week my favorite ice cream, Turkey Hill is now $3.00 per container, when on special. As little as 3 years ago, it was $2.50 per container, and the containers were 56 oz, as compared to the 48 oz you get now.

Doing some math, I figure that’s about a rate of 13% inflation per year. I know my revenues have not gone up 13% per year.


17 posted on 02/17/2011 6:53:13 AM PST by Big E
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To: rwfromkansas
We saw this bed sheet set at Target the other day listed as 89.99. When we got it, it rang up as 99.99. They gave it to us for 89 but apparently were in the process of raising prices on some items. That is not a small price increase. That’s huge....$10!!! Now I don’t know if this is a common thing or if it’s just a few items that were cheaper for some reason, but if the former we have some real inflation issues just bubbling up.

Read an article this week that said clothing prices would be increasing by 10% this spring. I presume it's due to the increase in cotton prices, which would also impact bed sheet prices, I'd suspect.

18 posted on 02/17/2011 6:53:24 AM PST by OB1kNOb (Witty saying TBD.)
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To: Free Vulcan

The CPI is gamed (manipulated)...the numbers being touted are bogus. =.=


19 posted on 02/17/2011 6:57:40 AM PST by cranked
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To: Free Vulcan

I don’t know, nor do I care what is in the gub’mint’s B.S. shopping basket, but my basket is going up like mad.

I’ll give you one example. My brand of coffee (Chock Full o’Nuts 100% Columbian Blend) went from a 33 oz can down to 27.5 oz a few months ago, while the price at Publix remained the same at $11.89. Two weeks ago they jacked it up to $12.89. That is a 30% hike in the price of that particular product.

The same package resizing has been going on with many items.

At least Chock Full o’Nuts made the physical can smaller too so it was obvious at a glance that something had changed.

Some other products still come in the same size package, just the contents has been reduced, and your only clue is if you read the “net weight” figure on the package.

Figures don’t lie, but gub’mint bureaucrats do it for a living.


20 posted on 02/17/2011 7:03:37 AM PST by Yankee (Welcome to Obama's Fourth Reich.)
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To: LibsRJerks

I went grocery shopping at my local Cub Foods yesterday and the price of a head of iceberg lettuce had gone from $1.29 (where is was Tuesday - not a sale price) to $1.99. I know it’s still only $1.99, but not long ago it was running around $.79. We are feeding a family of 7 on one income, so I watch the price of EVERYTHING really closely and it ALL is going up. Look at cereal for instance — the price goes up 40 or 50 cents a box, fine. But they also make the box smaller, many are less than 12 oz now. That’s 4 or 5 bowls of cereal per box in our family.

And this is just the beginning.....


21 posted on 02/17/2011 7:04:56 AM PST by FarRightFanatic (It wasn't an election. It was a socialist coup.)
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To: LibsRJerks
Paid almost $4 for a freaking carton of cherry tomatoes yesterday. That was a shocking price

Yes. I'll be growing my own cherry tomatoes. You should, too.

22 posted on 02/17/2011 7:08:54 AM PST by backwoods-engineer (Any politician who holds that the state accords rights is an oathbreaker and an "enemy... domestic.")
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To: Yankee

Shrinking a container’s size while selling it at the same price is an easy way for a producer to disguise a price increase, but it still counts as price inflation since the government takes package sizes into account.


23 posted on 02/17/2011 7:12:43 AM PST by 1rudeboy
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To: artificial intelligence
How Inflation Could Be 66% Higher Than the Fed Reports
24 posted on 02/17/2011 7:23:43 AM PST by FromLori (FromLori">)
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To: Yankee

I’m with you Yankee. Problem is that average person making 50K or less spends a higher proportion on food and energy. So for us inflation is a great deal higher than what the CPI indicates. And their’s way more people making under 50K than over.

In the aggregate that puts a big crimp on the economy. That’s what the numbers don’t tell you.


25 posted on 02/17/2011 7:24:23 AM PST by Free Vulcan (Vote Republican! You can vote Democrat when you're dead.)
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To: artificial intelligence

Goody.

I shoulld get some killer deals on ebay now. /s


26 posted on 02/17/2011 7:27:13 AM PST by Gasshog (going to get what all those libs asked for, but its not what they expected.)
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To: LibsRJerks

Goody.

Ive been needing to lose weight. Obama is so wise.
Let’s Move.

/s


27 posted on 02/17/2011 7:29:13 AM PST by Gasshog (going to get what all those libs asked for, but its not what they expected.)
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To: Free Vulcan
Still relatively tame but slightly higher than thought. Not a huge effect on the market right now.

The problem is that higher prices are now 'baked into the cake'. Anyone who says that inflation is tame is like someone standing on a train track claiming that the ongoing train won't run over them. when the train is 2 miles away its easy to deny it...when the train is 1 mile away its easy to deny it...when the train is 1/2 mile away its still sorta' easy to deny it...when the train is 200 yards away those who deny it do so while their knees are wobbly...when the train is 100 yards away the deniers get cotton in their throats...and when the train is 10 yards away its too late to deny it, there's only time to jump out of the way and blame the engineer for not slamming on the brakes.

Right now, in our economy the train is about 200 yards away...and its not slowing down.

28 posted on 02/17/2011 7:29:40 AM PST by NRG1973
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To: Free Vulcan
Inflation: It's Here
29 posted on 02/17/2011 7:30:51 AM PST by FromLori (FromLori">)
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To: Free Vulcan

http://www.bls.gov/news.release/cpi.t02.htm

Seasonally adjusted annual rate percent change

Cereals and bakery products 6.1% in the last 3 months
Meats, poultry, fish, and eggs 4.4% in the last 3 months
Dairy and related products 2.1% in the last 3 months
Fruits and vegetables 12.1% in the last 3 months
Fats and oils 10.2% in the last 3 months
Motor fuel 53.5% in the last 3 months
(home) Fuel oil and other fuels 66.5% in the last 3 months (not seasonally adjusted)


30 posted on 02/17/2011 7:32:33 AM PST by mrsmith
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To: Free Vulcan
Problem is that average person making 50K or less spends a higher proportion on food and energy. So for us inflation is a great deal higher than what the CPI indicates.

No. Just because poorer people spend more of their discretionary incomes on food and energy (and they do), doesn't mean that the inflation rate is higher. Apples and oranges.

I think you meant to say that your discretionary income level is falling more rapidly (than that of someone with a higher income) because of rising food and energy costs.

31 posted on 02/17/2011 7:34:24 AM PST by 1rudeboy
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To: Free Vulcan

Inflation destroys the value of savings, and today’s “government” is totally responsible for destruction of the dollar through spending-spree, dollar-printing inflation.

IT’s “TEA PARTY” time ... again.


32 posted on 02/17/2011 7:48:55 AM PST by OldNavyVet (One trillion days, at 365 days per year, is 2,739,726,027 years ... almost 3 billion years)
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To: OldNavyVet

Does anyone believe any numbers the gov. gives out anymore?

I give very little serious consideration to any government issued numbers on anything. They have lied so much I consider them in the ranks I do with the numbers the communist chinese issue.

The game is rigged, wall st. banks and gov. all in collusion and we are the ones being reamed a new one.


33 posted on 02/17/2011 8:41:44 AM PST by sarge83
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To: Big E

WEll Big E,
Then you do not work for some government.


34 posted on 02/17/2011 9:13:37 AM PST by Joe Boucher ((FUBO))
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To: Free Vulcan

Here’s the good (spin) news: “Consumer prices fell sharply in 2010, and over the last 12 months they are up just 1.6% despite recent increases in food and energy costs.”

Here’s the bad news that’s been left out:

CPI for December & January has been 0.9. And if volatility in the ME continues we’ll end up with double digit inflation before the year is over.


35 posted on 02/17/2011 9:31:40 AM PST by proudpapa
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To: FarRightFanatic

Beck has been talking about this for some time now.


36 posted on 02/17/2011 11:10:06 AM PST by red irish (Gods Children in the womb are to be loved too!)
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To: artificial intelligence

37 posted on 02/17/2011 11:49:26 AM PST by thackney (life is fragile, handle with prayer (biblein90days.org))
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To: Yankee
Hidden Inflation in Food Prices
38 posted on 02/17/2011 11:58:47 AM PST by Deo volente (God willing, America will survive this Obamination.)
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To: Free Vulcan

They strip out food and energy which are skyrocketing, but leave in housing, which is falling. As though people buy homes every day.


39 posted on 02/17/2011 12:33:26 PM PST by Red in Blue PA (Planning on using 911? Google "Brittany Zimmerman")
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To: Red in Blue PA
Did you read the first sentence?

The prices that American consumers pay for goods and services rose a seasonally adjusted 0.4% in January, mainly because of higher gas and grocery expenses, according to the latest government data.

40 posted on 02/17/2011 1:02:33 PM PST by thackney (life is fragile, handle with prayer (biblein90days.org))
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To: rwfromkansas

Cotton is the culprit. Price increases on cotton, gasoline, groceries, even ground beef are climbing. Families just getting by are screwed.


41 posted on 02/17/2011 7:00:54 PM PST by NonValueAdded (Palin 2012: don't retreat, just restock [chg'd to comply w/ The Civility in Discourse Act of 2011])
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To: sarge83

sarge....absolutely true. The game is rigged so that the sheeple pay while the richest segment in our society (that in fact should now be bankrupt), the NY bankers and Wall Street players all get backstopped and made richer by the Federal Reserve and taxpayers. These are the people who put Obama and his czars into office.

Wall St should have been on the hook for the damage they created instead of putting taxpayers on the hook for them. They had years of illegal gains and wheeling dealing and they should have been required to payback and make amends.


42 posted on 02/17/2011 7:12:15 PM PST by apoliticalone (US conservatism does not equal multi-national corporatism)
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To: FarRightFanatic

I dealt with these issues in 2007/2008, that terrible winter. Because of the terribly rapid rise in food prices, I searched for and found less expensive options. For example, I ceased consuming boxed breakfast cereal and instead opted for old-fashioned oats and corn tortillas. Would I prefer the prepackaged breakfast cereal? Yes, but I can’t justify paying the prices. Over the past three years, however, even the prices of those substitutes almost doubled.

I also found different, less expensive grocery stores. Here in Oklahoma City, our grocery prices already rank among the lowest in the country. For produce especially, I turned to a Mexican grocer. But even there, I take great care to choose only the least costly fruits and vegetables and strictly adhere to a price cap of 67 cents per pound.

I buy bread only at special discounters who charge $1/loaf or less. I anticipate their prices to increase. (I also walk or cycle to grocers; gasoline costs too much for my budget, and I need the exercise.)

Among the dietary changes that the inflation episode three years ago compelled me to undergo, giving up cheese entirely for several months perhaps caused me the most difficulty.

I don’t really have any answers for you, but I can recommend making careful choices, selecting less desirable substitute products (e.g., whole oats instead of breakfast cereal; cabbage instead of lettuce), and seeking less expensive grocers.

Ben Bernanke has much explaining to do.


43 posted on 02/17/2011 7:43:49 PM PST by dufekin (Name our lead enemy: Islamic Republic of Iran, Mahmoud Ahmadinejad, Islamofascist terrorist dictator)
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To: Rodm

You need to include a decoder ring with a message like that.


44 posted on 02/18/2011 3:48:21 AM PST by RipSawyer (Trying to reason with a liberal is like teaching algebra to a tomcat.)
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To: Big E

Back in the late sixties ice cream in half gallon containers (64 oz.) was available on sale for 35 cents. In ‘72 I could buy choice T-bone steak which was equal to today’s prime grade for 79 cents a pound EVERYDAY. Compare those figures to the “official” inflation adjustments from the government, you won’t know whether to laugh or cry. My income in those days was around 500 a month. Tell me I wasn’t better off than most folks are now. Oh, wait, no I wasn’t, I didn’t have a cell phone to “sext” on back then, I just had sex every night instead.


45 posted on 02/18/2011 3:59:27 AM PST by RipSawyer (Trying to reason with a liberal is like teaching algebra to a tomcat.)
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To: sarge83

A few years ago I was saying on FR that the government figures are rigged and we were not nearly as well off as the politicians said and I was regularly flamed for it. Now it seems that just about everyone is convinced of it.

I believe what I see, not what the government says and I know that in my lifetime we have gone from a time when a high school dropout could work hard and get married, raise a family, own a house and a small farm and have a good life and I know because my father did it with an eighth grade education to a time when college graduates are lucky if they have a real eighth grade education and many of them take jobs my father would have considered far beneath him.


46 posted on 02/18/2011 4:23:14 AM PST by RipSawyer (Trying to reason with a liberal is like teaching algebra to a tomcat.)
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To: Free Vulcan
The core data strips out volatile food and energy costs that can make overall inflationary pressure in the economy to seem higher or lower than it actually is be accurately represented.
47 posted on 02/18/2011 6:26:24 AM PST by dirtboy
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To: RipSawyer

Rip: you’re not kidding. The government inflation numbers are a joke. By that I mean, they way-y underestimate inflation. I used your ice cream example, 64 oz. for 35 cents, and compared against what Turkey Hill is charging today. Today’s ice cream is roughly 11.5 times more expensive than in 1968. Yet, the Dept. of Labor tells me prices have only gone up 6.33 times since 1968.

http://www.bls.gov/data/inflation_calculator.htm.

Or, your steak example. $.79 per pound in 1972, compared to $8.00 per pound today, that’s 10 times as much. The DOL tells me inflation only went up 5.27 times since 1972. What do you expect from your government? Lies, lies, and more lies.


48 posted on 02/18/2011 10:06:33 AM PST by Big E
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