Posted on 03/01/2024 6:06:05 AM PST by ChicagoConservative27
During an interview with ABC News on Thursday, White House Senior Adviser Gene Sperling stated that “people have been through a tough few years” but the PCE (Personal Consumption Expenditures) price index reading is “very close to normal” and “prices are moving in the right direction” and “moderating.” But you can’t expect them to not go up.
Sperling said, “It’s been a tough few years since the pandemic,” but “inflation is coming down. In fact, it was really 2.4% in this measure, 2.8% if you don’t include food and gas. And that’s not good enough, but it is very close to normal. And there are a lot of different areas where you have seen prices come down.”
He added, “I think people have been through a tough few years and they went through 2022 when you had the variants and the global economy was getting back and you had supply chain issues and they saw prices come up. And I think it’s reasonable for people to feel like it’s been a somewhat rough few years. And there may be a lag in people starting to say, hey, now I do see that prices are moving in the right direction. And sometimes you have things like eggs or lettuce or milk where prices are going down. People say, yeah, but they’re still higher than they were, and I respect that. What I want them to know, though, is that it’s still worth understanding the facts and it’s not wrong to communicate facts about prices are moderating.”
(Excerpt) Read more at breitbart.com ...
It is EVERYTHING.. literally EVERYTHING.
There is NOTHING I have bought in the last year, that hasn’t gone up in price every time I purchase it... and not a few pennies either, signficantly.
If you want lies, there’s really only one place to go…the United States government.
And, “in the right direction” = ruining your lives. That is the goal of the commie trash in charge.
And, when they get four more years of this crappola everyone’s grandchildren will be enslaved. That is also the goal.
Yep. I don’t know how folks can even afford to build new homes these days, but there,was a real boon during covid of folks building or remodeling.
Not to mention that states were forced to go from about $6 an hour to $15 an hour, so that drove prices for things like hiring companies to build, or maintain lawns etc etc etc high sky too.
Hard to beleive the left is even trying to bs the nation about how good things are supposed to be.
Depends of course of what the gubbment way overpaid morons consider prices moving the ‘right direction’. the rich assholes you know don’t do day to day shopping so have no idea what prices go up and don’t care. For us po folks trying to keep the family fed and housed and the heat/lights on, the prices are killing us.
I am going to say something a little unpopular here. But the inflation of 2021 and 2022 was baked in from the response to Covid in 2020. The feckless policies of the Biden administration coupled to Democrat control of Congress certainly made it worse but it was inevitable.
You cannot shutdown a huge chunk of the economy and ramp up spending at the same time without negative economic consequences. Inflation is a monetary problem coming from a mismatch between economic growth and money supply growth. Every dollar the government borrows is lent into existence by the Federal reserve. The massive ramp up in already massive debt spending starting in 2020 coupled with lockdowns that kept people home leading to negative economic growth made inflation inevitable.
I don’t think we are truly done either because we are still creating 6.5% more money every year just in Federal deficits while official growth is, IMHO grossly overestimated, at 2%. Trump signed those spending bills in 2020 and the Republicans have voted with the Democrats the whole time for these bills.
Inflation is a tax. It should be zero.
In the Goolsbee universe, inflation is almost at its normal rate, and we have to be very cautious about keeping interest rates too high, too long.
All these guys are searching for ANY data point that will give them an excuse to cut interest rates and stimulate the economy before the November election!
Inflation? What inflation?
My top two expenses each month - rent and food.
My rent is up 20% in the last two years, with another 10% hike coming in six months.
My food is up 50% in the last two years...
I visit two major name grocery stores EVERY day on my evening walk.
I used to buy EVERYTHING on sale.
The great sales have completely disappeared. Good sales still happen occasionally, but the shelves are stripped clean by the second day.
All growth, in my opinion, relates to the 10 million illegal immigrants who arrived with the Biden Administration.
Our population - and demand - has grown by 3%.
All those folks are getting food and rent assistance, plus medical care, education, bus tokens, clothing, etc.
Many of the 10 million have valid work permits, which crushes the USA wage scale for low skill labor, and creates more demand for government assistance.
Exactly. We want the water level to go DOWN, not rise slower!
I’ve reached the point where things have evened out. I can’t afford the gas needed to drive to the store to buy the groceries I can’t afford.
Even with the much higher rate of inflation, the numbers and methods have been highly manipulated to favor Mr. Potato Head .
Yep eggs jumped back up to 2.98 a dozen. Just noticed today. They had temporarily gone down to about 1.79 a dozen.
Yep and we have a 2 family and a 4 family to gut rehab. We now buy drywall from where Lowes buys their drywall and skip the markup.
“My rent is up 20% in the last two years, with another 10% hike coming in six months.”
I’m a landlady. My insurance and taxes are up almost 30%. Utilities are sky high as well. That and the moratoriums which should have ended with SCOTUS decision but Joe Pedo kept them going is causing rents to go ever higher.
In 2019 they were $3. Kroger used to run a 4 for $11 special
A bottle of Suave shampoo at $1.99 was 30 ounces.
It’s now 22.5 ounces. A 25% decrease in volume. The price per ounce goes up 33.3%.
None of them apparently ever go to the grocery store, pay utility bills, buy a tank of gas or even pay taxes and fees to local governments.
I am definitely not blaming landlords and landladies for rent increases.
My Dad's family was in the hotel-motel-apt business for 80 years!
No offense taken. Landlords have a target on their back not unlike the J6ers under Joe the Pedo.
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