Posted on 12/06/2023 5:56:59 PM PST by matt04
Even though inflation is still higher than ideal, many things are actually getting cheaper. But perhaps not the ones most Americans want.
The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the past five months. Data released Thursday by the Commerce Department showed prices for such goods were down 2.2% in October compared with the year prior.
Some economists estimate the fall in goods prices could bring inflation back to the Federal Reserve's 2% target by as early as the second half of 2024. One inflation gauge, the personal consumption expenditures price index, has fallen to 3% since peaking at more than 7% in July 2022, partly due to declines in durable goods prices.
In fact, The Wall Street Journal reported that Morgan Stanley economists believed inflation could fall to 1.8% by next September, though some Fed officials are more cautious.
But even though durable goods prices are expected to keep falling over the next few months, changing buying habits mean many Americans' wallets could still feel the heat from inflation. Shoppers continue to spend more on experiences such as trips abroad, museums, and concerts while limiting purchases of goods such as new vehicles, clothing, and furniture.
...
To be sure, most items Americans are purchasing daily are still inflating. While many items are getting more expensive at a slower rate than a few months ago, prices for groceries, car insurance, and "fun" activities such as sporting events and concerts are all still increasing monthly.
(Excerpt) Read more at businessinsider.com ...
I have consistently wanted to the American people to suffer from economic trouble up to election day 2024.
If not, we will face a long dark era of communist tyranny.
“...many things are actually getting cheaper. But perhaps not the ones most Americans want.”
Brilliant! Prices fall when demand is weak. They should call this something catchy like “The Law of Supply and Demand”.
U.S. Strategic Petroleum Reserve is running on empty...
My homeowner’s insurance just went up over 11% on top of my vehicle insurance going up about 15%.
Yet, today's price of a gallon of eighty-seven proof non ethanol cost five
dollars fifty-eight cents.
Same fuel, pre-bumblin' biden, was three seventy-five per gallon.
Grocery prices have not fallen due to high fuel prices, with the price of
fuel rising twenty cents a gallon in the last week.
The author of this article is deluded or a high paid propagandist aiming
for the easily fooled ignorant masses.
Booschidt. Everything went up at the Walmart I shop at. The 12 pks of 7up and Canada Dry went up 2 bucks back to 6.98. I purchased 12 items and everything I bought went up again. Some things really poured it on.
You need to recognize that the fuel price situation you present as a metric is local to you and not representative.
Here, unleaded 87 octane has fallen from 4.95 to 3.95 and non-ethanol 91 octane from 5.95 to 4.95. No increases in the past two weeks; still falling.
For the autos, there has been a problem selling them and a large amount of them have gone to discount auctions. And since the inflation rate has risen so much in staples like food, clothing, and medication people don’t have the funds to purhase so the cars sit on the lot until the sellers can bring it down to get someone, anyone, to sign a contract. It’s a matter of overstocked inventory.
wy69
My favorite thrift stores have increased their prices near double.
Today, the gravy packets were 2 for $1. Right before Thanksgiving, they were 2 for $3. Eggs are up about 80 cents a dozen over a few weeks ago. My favorite bread is now up to $4.89/loaf. The frozen entrees my husband likes for lunch are almost $4 each now, even on sale. Most of the fresh vegetables I might consider buying are $3/lb now. It is getting more challenging to have much of an actual meal for 2, for less than $10. On the other hand, there were some Keebler fudge stripe Looneytoons cookies on sale for $1/package, due to “best by” dates coming up later this month.
Geez.....BI is nothing but an Administration mouthpiece. Some appliance manufacturers reducing some prices to spur sluggish sales on inventoried items and they ballyhoo that like it’s the second coming.
Look at FOOD PRICES
Look at NEW CAR/TRUCK PRICES
Look at UTILITY BILLS
Look at HOME PRICES/STARTS/SALES
Look at TAXES
Screw BI.
Grocery prices were coming back down a little bit over the last two months but I just went through this week’s grocery ads and most things were up over just last week.
A lot of my favorites are still entirely missing from the shelves since they first disappeared in the summer of 2020.
I noticed the jump in egg prices recently as well. Bidenomics, you know....the thing.
Pure crap. Some things have reduced a little in price but hardly noticeable and not making up for the other things that continue to go up. Electricity is the next big thing. We have only seen the tip of the iceberg of the impact of destroying coal fired base load. Natural gas is relatively cheap now but wait for it to be the only viable fuel and the prices will skyrocket.
The chocolate ration has been increased from 30 to 20 grams.
Praise President Biden! Much better than the unlimited chocolate under eeeeeeeeevil Orange Man!
Tell us more about the increase in the chocolate rations, you craven lickspittle slimebags.
This BS must have been written by a gov stooge. It’s similar to when the gov only increases the budget by $500B instead of a trillion, they claim they reduced the budget by $500B. False. Lie. They increased by $500B, they didn’t reduce it! It’s like saying “I thought I was going to gain 10 pounds but I only gained five pounds, so that means I lost five pounds”. It’s an insult to a persons intelligence.
Keep on gaslighting us comrades! We love it!
Well, I have notice life is getting cheaper.
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