Posted on 05/14/2008 12:53:42 PM PDT by mondoreb
Here's something that should drive the MSM up a wall.
Consumer-level inflation's tame in April, U.S. says
"WASHINGTON (MarketWatch) ~ Growth in consumer prices came in below expectations for April even as food prices rose at the sharpest rate in 18 years, a government report showed Wednesday.
The consumer price index rose a moderate 0.2% last month, the Labor Department said. Excluding volatile food and energy prices, the core consumer price index increased 0.1%. Inflation was just a bit weaker than expected, but financial markets welcomed the April CPI figures. Consumer prices are up 3.9% in the past 12 months; core inflation is running at a 2.3% pace."
Analysis
You always want to be careful of numbers compared to "expectations", cause those expectations could have been rational or they could have been dippy. So your really want to look at the hard numbers and see what that tells you. In this case it's good news.
With inflation at 0.2% in April (annualizes to 2.4% at that rate), CPI up 3.9% in the past year including energy and 2.3% without, inflation is still relatively under control. To put this into perspective, China was up 8.5% from April 2007 to April 2008.
(Excerpt) Read more at deathby1000papercuts.com ...
That inflation report was bullkorn.
Well, it’s nice to know other than food and gas, inflation is under control. Good thing Americans don’t eat or drive that much.
Bump!
Agreed. I can’t think of a worse example of “good news.”
Yeah, I see it all the time: “waah, the gubmint reported that eggs rose 14% when the eggs at my local Piggly-Wiggly rose 22%!” LOL
The media have spent a lot of money and time getting the public to believe that we are in big economic trouble. They’re not going to let the truth get in the way of their message. Wait until we have a democrat president - then the media will find all the good economic news that they can invent.
I’ve posted this several times before that the MSM has been sulking,seething that their most potent weapon against McCain has been effectively pulled out from underneath them with the economic issue being a non-starter for them to use as a cudgel
in any reporting during the election.
It’s interesting that the effect of fuel prices has not rippled across the entire economy. I can’t see why it has not impacted prices on everything.
YEah, the govt likes to discount things so much, I can tell them this: It’s this kind of garbage that makes the average person discount everything they say. Not in a recession because we haven’t met the criteria? How would we know? Recession is when your neighbor loses his job.
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