Posted on 02/13/2024 6:34:26 AM PST by ChicagoConservative27
Consumer prices rose 3.1 percent over the past year and 0.3 percent in January, according to data released Tuesday by the Labor Department.
The annual inflation rate fell from 3.4 percent in December while monthly price growth accelerated slightly from a 0.2-percent rate last month.
Economists expected the annual inflation rate to fall to 2.9 percent and monthly inflation to come in around 0.2 percent, according to consensus estimates.
The January inflation decline is the latest sign of the U.S. economy holding up better than many experts expected with just nine months until the November elections.
(Excerpt) Read more at thehill.com ...
The title is The Hills attempt to put lipstick on a pig.
Good points, and I do not have solid “economics” numbers. But, I probably do more than half the shopping, and prices are up probably more than 25-30% from where they were 3 years ago, across the board - whatever that comes down to in annual inflation. The thing is, I remember nothing like this during Trump’s tenure.
I don’t know how to factor this, but “sale” prices and the number and duration of “sales” are definitely off, too. Kerosene fuel used to have frequent sales, where I live. It doesn’t, any more - and its base price is almost 50% higher than pre-covid.
I am not sure, also, how to factor in a lack of goods. Store prices remain unchanged for what they do not have, and I do not buy it. I would imagine that this lowers inflation and “saves” me money.
It sounds like you are saying foreign timber is undercutting the local suppliers. I would agree that this is one way that “inflation” is fought. I have believed, for decades, that inflation has been fought by replacing US manufacturers with China. The customer does not see inflation, but the unemployment numbers grow.
Fun times.
Just got my auto insurance bill — up $72 from 6 months ago — on a 6-year-old vehicle.
In the 70s, at least wages went up, too.
> Without at least 20% deflation, those of us retirees on fixed incomes still are down about 15% since the start of the Biden administration, and with this year’s addition we will be around 23% down on real income.
> I don’t care if inflation goes to zero. Retirees have already lost about 15 years of lifetimes savings and interest.
Aha, but didn’t yellen keep repeating to congress that the mean wage earner income is increasing at a rate which is keeping up with price increases? (so therefore all is well...)
Good catch. You are correct
Methane Fee to Take Effect in 2024: A Mini Carbon Price
https://taxfoundation.org/blog/methane-fee-2024-carbon-price/
False.
As .38Special pointed out, it is a Biden Democrat tax hike to “fight climate change”
Methane Fee to Take Effect in 2024: A Mini Carbon Price
https://taxfoundation.org/blog/methane-fee-2024-carbon-price
Yellen was lying by omission. the mean wage earner is no where near keeping up with real inflation. They not even keeping up with the fake inflation numbers the Government manufactures
BS, indeed.
Actually:
Price increases were higher than the 2.9% economists had predicted
Overall prices up 17.9%
Food up 20.8%
Energy Services (electricity and gas utilities) up 28.8%
Rent up 19.5%
And those are the most conservative numbers!
That’s interesting. The only time I really compare unit price is when I am buying liquid laundry detergent or cuts of beef steak.
I typically end up buying Arm & Hammer detergent because of this. I always wait for it to be on sale. Then buy 3-4 of the jugs with the lowest cost/gallon.
Where? It’s not in Kentucky...
Maybe if the inflation rate actually went down somebody might have surmised that this was an election year. It would have been helpful if Biden could have done this about 3 years ago.
Partisan media shills will soon be AI, which means the current group of broadcast stooges will be out of jobs.
I agree, utilities are soaring…..
But we only have 3.1% inflation. Right?
So, the official numbers can be slanted and jiggered by what is included in them?
Personal experience doesn’t count??
Interesting. The Hill put this out and the take is running 180 degrees counter to what everyone else is saying. Looking at Yahoo Finance, they’re all saying: “Inflation is hot again unexpectedly.”
February 13, 2024
Inflation Roars Back: Dow Jones Plummets Over 400 Points as Economic Concerns Escalate
https://freerepublic.com/focus/f-bloggers/4217103/posts
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