Skip to comments.U.S. consumer prices drop for first time in a year
Posted on 07/15/2011 7:23:34 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) The cost of living for Americans fell last month for the first time in a year, mainly because of a drop in gasoline prices, the Labor Department reported Friday.
The consumer-price index fell a seasonally adjusted 0.2% in June. Energy costs sank 4.4% the largest decline since December 2008 as the price of gas and household electricity decreased.
Gas prices fell 6.8% and electricity declined 1.6%, the biggest drop in 14 years.
The cost of food rose 0.2%, though it was the smallest monthly increase in 2011.
(Excerpt) Read more at marketwatch.com ...
mainly because of a drop in gasoline prices
I believe it was just last month we were told the prices of food and gasoline shouldn’t be factored into the Consumer Price Index because their price swings were temporary.
Prices will drop slightly, and then they are going to take off like a rocket on steroids.
After a few more abortions, it will go up and down, until we get the big gauging moment. Then our aristocrates will eat cake too, but their blood will be for the hounds.
There are Liars, Damn Liars, Politicians. All pale when compared to Statisticians. As usual, the numbers are being revised as the ink drys on the headlines.
COLAs are in the gun sights of our overlords.
Toilet paper: was $17.65 now $18.99: 7% increase.
Coffee: was $8.99, now $11.99: 25% increase.
Prices are on the rise.
I could go on but funny how they never want to include gas in consumer prices when gas goes up but do want to use gas when it goes down.
“I believe it was just last month we were told the prices of food and gasoline shouldnt be factored into the Consumer Price Index because their price swings were temporary.”
You have only a partial understanding of the CPI. When the goal of govt is to cheat retirees out of their cost-of-living raises you don’t count food or energy when their cost is rising, you only count them when the cost is dropping.
What planet would that be?
Not the area I live in. Groceries are sticker shock. Gas went up 15 cents overnight Tuesday.
The only lower prices I’ve seen are fresh vegetables.