Posted on 02/13/2024 6:34:26 AM PST by ChicagoConservative27
“My household inflation rate is more like 15-20%. Utilities are the latest thing to skyrocket. Gas, electric, water, all way up. 3.1% is a fantasy.”
Gas is down year-over-year. Where you come up with 15-20% for aggregate household expenses is beyond me.
Oh, hey everythings 30% more than it was 3 years ago, but hey, it only rose 3% this year...
what BS.
Gas and Food are not included in core inflation, this is by design...so they can make such outrageous claims
That’s my household gas bill. House runs on natural gas. Not gasoline. That’s why I said Utilities.
And groceries, restaurants, fast food are way up also in my area.
Gasoline, by the way, is stuck at an average of $4.59 a gallon.
Prices have gone up significantly lately, jumping 80 cents a gallon.
That’d be a valid point if those numbers were excluded starting last month, but the methodology for core inflation has been consistent for decades.
By the way, food inflation was up 5.8% last year, energy prices were down. (Nat gas is down over 45% from a year ago.)
Yes, I know they have never included it, where did I say they just started excluding it?
Like I said they exclude food and energy so they can show numbers that look nice.. its not something new..
> Gas is down year-over-year.
Great if one puts lots of miles on their ride, but not so much for those of us who don’t.
(cough) (cough) The Hill
“That’s my household gas bill. House runs on natural gas.”
On December 13, 2022, Henry Hub futures were trading at $6 per million BTU. Henry Hub is now selling at $1.69.
If your bill is going up your utility provider is scalping you.
“... so they can show numbers that look nice...”
My point is that that objective has been consistent over many economic and political cycles. I don’t think that the goal is niceness but rather one which produces a more reliable gauge by which to set rates. (I’m not arguing that it does.)
Clearly, though, there are times such as the past year in which including energy prices would have produced a “nicer” print.
I just paid $205 for my monthly gas bill. We have a gas furnace and stove. That is most I ever had to pay in 11 years of living in this house. The tempteratures in that time frame were average for this time of year.
That is all Bidenfaltion
Isn’t that on top of the already 20%?
Those are not included in the official numbers.
False
The US Government changes it “basket of goods” when calculating Inflation. Their argument is it produces a more consistent, accurate measurement.
What is does in fact do is allows the Government to keep the rate artificially low since they are legally bound to tie the Social Security annual COLA to the official inflation rate
The US Government would be unable to pay for all the current spending plus the Soc Sec COLA if the real inflation rate was ever tracking
Isn’t there increased energy taxes in play here from some of the bills passed recently?
You cannot go by shelf price without knowing if the size remained at the pre-covid size. If it didn't, that back down price is actually higher due to the unendingly galling shrinkflation.
I don't like paying higher prices any more than the next guy, but when you play the shrinkflation game of giving me a smaller size for the same price, I'm in orbit. I noticed the other day that Turkey Hill has now gone the way of those hosers at Blue Bunny with 46 ounce containers instead of 48. Not that I'm happy with 48 ounces because I still want the half gallon container I grew up with since I'm paying the same higher price anyway whether it's a half gallon or 48 ounces. Like I said, unendingly galling.
Sorry, but inflation is inflation, you can’t say.. OH ignore food and energy...
They do it so they can play the same games they always do.
I am well aware they have always been doing this.
Just like they always report the U3 and not the U6 unemployment numbers.
They have their excuses for doing so... ooo food and energy are too volatile.. so we exclude them.. but of course they are the two things EVERYONE must constantly pay from.
Its garbage, all of it is a game.
I never ever said this was something they “changed recently”... I know damned well they have been playing this game my entire life.
They lie, period.
You could be correct.
The pizza might be 11” in diameter, instead of 12”. I did not measure it.
It may be a price point. The grocery store says make us pizzas we can retail for $X. Just like Home Depot goes to Moen and says make us a faucet we can sell for $99.
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