Posted on 12/16/2022 7:02:06 AM PST by SeekAndFind
Joe Biden made a big deal about inflation falling this week, to 7.1%, down from a 9.1% high last June, and lower than last month's 7.7%.
That was the slowest pace in nearly a year and better than analysts expected.
...wrote the BBC, echoing much of what's been parlayed in the press.
Biden found that something to crow about, according to the New York Post:
“In a world where inflation is rising at double digits in many major economies around the world, inflation is coming down in America,” Biden said at the White House, referring primarily to European inflation, which slightly outpaces US rates due to energy disruption from Russia’s invasion of Ukraine.
“Make no mistake, prices are still too high and we have a lot more work to do,” the president said. “But things are getting better and headed in the right direction.”
“Most Americans can see the progress driving down the street and finding relief at the pump as gas prices fall,” he went on. “Today’s report contains another piece of good news: Food inflation slowed last month, providing much-needed relief for millions of families at the grocery store.”
All of which is baloney to the average consumer. Prices are up, and Joe Biden caused the problem by spending and printing money for government boondoggles, like a proverbial drunken sailor.
The figure cited is year-on-year, which doesn't really convey the extent of the problem. The real measure of inflation is the one that begins with Joe Biden's administration, with the first whole month of it in February 2021, not the year-on-year figures which aren't what the public thinks about as it watches this wide scale inflation eat up their paychecks
(Excerpt) Read more at americanthinker.com ...
Be prepared for Democrats rigging the statistics. RNC should hire some economists to watch this.
Doubleplusgood.
A very important point! The number we are given each month is the increase at the end of the preceding month over ONE YEAR PRIOR!
Last year’s number was higher than the number for the year before that. The comparison is not a valid comparison. The quoted rate of inflation should be in reference to prices in January 2021.
“RNC should hire some economists to watch this.”
The RNC is all in on this; they are half the problem.
On second thought, I read your comment as satire.
Rasmussen: Biden at 47% approval. Almost half the country thinks everything is fine.
It’s more than 13%, prices have doubled for low cost items at the grocery store. Also, fuel prices have really jumped as well. Over $5 for gallon of diesel is not a 13% increase of Jan 2021.
DNC coups have consequences.
The UNEMPLOYMENT statistics have been rigged for months & months.
“Rasmussen: Biden at 47% approval. Almost half the country thinks everything is fine.”
I’m glad people are happy, that plus low unemployment in the labor markets, should give Powell & the central bankers plenty of leverage to continue their interest rate hikes.
Bidenflation clocks in at 13.2%, according to new TIPP index;
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There’s a good chance that this hurts Biden not one bit in the next election. The media focus will primarily be on how much incomes have increased broadly from government handouts and tax credits.
With raise and bonus season upcoming I think everyone is going to be in for a rude awakening.
I figure inflation from the day I retired and went to a fixed income. I also figure inflation on items that I actually buy. Over the last 4.5 years, inflation averages to 92% unweighted with respect these items.
Eggs are $4.99 a dozen and butter is $4.99 a pound.
Everything else up much higher.
No way inflation is getting better.
Meanwhile con_gress is spending more and more so inflation never eases.
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