Gone In November? US Inflation Growth Slows To 7.1% YoY, Real Hourly Wage Growth “Improves” To -1.9% YoY (Fuel Oil UP 65.7%, Food At Home UP 12%)

Confounded Interest ^ | 12/13/2022 | Anthony B. Sanders

[Kaiser8408a]

Is inflation “gone in November”? Nope. Slowing, yes, but at 7.1% YoY and core inflation at 6.0% YoY, it is still considerably higher than The Fed’s target of 2%.

And the American middle class and low wage workers are still suffering with REAL average hourly earnings growth at -1.9% YoY.

The biggest losers in the inflation report for November? Food at home up 12% YoY, Fuel Oil up 65.7% YoY and “shelter” up 7.1% YoY. I call this the household bundle … of pain.

Here are Joe Biden and The Federal Reserve doing a magic tricks by turning a great economy into a recession.

[Kaiser8408a]

What Jean Pierre and the MSM rave about lowering inflation since inflation only rose 0.1% MoM in November. Hiding the main point that inflation is over times the Fed's target rate.

[Tell It Right]

"Hiding the main point that inflation is over times the Fed's target rate."

Exactly! Prices are still way too high. But this "official" number gives cover for the Federal Preservatives to keep Brandon's sorry economy propped up with low interest rates and QE.

[Theoria]

Oil sell off helped. China reopening might bring back some inflation, like here.

[woodbutcher1963]

The stock market likes it this AM. DOW up 562 currently(1.6%).
Nasdaq up 464(2.34%). S&P 500 up 106(2.6%)

[woodbutcher1963]

Nasdaq up 3.64%

[Red Badger]

I’m so happy I could cry......................

[EEGator]

The stock market generally gets to highs just before massive crashes.
Let’s see how we’re doing in Q2 2023.

[Theoria]

Market will sell the rally.

[RoseofTexas]

But eggs are still 3.79 a doz! It’s about propping up the vegetable in chief or any demonrat candidate for 2024. THEY ARE LYING TO US!

[unixfox]

Woohoo!!! Happy days are here again!

[natalie227]

Diesel in my area was $6.19 October 27, $4.79 yesterday. That will help lower inflation as long as diesel stays that low or preferably lower.

[ROCKLOBSTER]

the vegetable in chief

Yup....good one. I'm stealing that.

[natalie227]

EEgator: The stock market generally gets to highs just before massive crashes Let’s see how we’re doing in Q2 2023.

There is 5 or 6 Trillion money sitting in cash accounts waiting to go back into the stock market. When inflation and intererst rates look tamed, Republican House takes over watch out. Dow 40,000
1990’s with Clinton and the Republican led house all over again. The stock market likes gridlock-no extremes left or right either way

[EEGator]

I guess we’ll see. I’ve been wrong more than right…

[pas]

I guess now they need 25 dollars an hour.

[Sicon]

So we’re supposed to be happy that inflation is only 7.1% HIGHER than it was at this time last year? Am I reading that right?

[hflynn]

The biggest losers in the inflation report for November? Food at home up 12% YoY, Fuel Oil up 65.7% YoY and “shelter” up 7.1% YoY.

The Fuel Oil number is going to be crippling to people who heat their homes with oil. Thousand dollar deliveries for 6 weeks of heat are pretty common in the Northeast and Winter hasn't even started.

[OHPatriot]

What gridlock?

Margin in the house is razer thin with TOO MANY SQUISH RINOS still in office. Dems STILL hold the Senate and SQUISH RINOS are still in office.

DEMS effectively and for all practical purposes control BOTH Houses and Joey ain’t going nowhere.

[I want the USA back]

The filthy dems will say this is a good thing.

[OrangeHoof]

Real Hourly Wage Growth 'Improves' To -1.9% YoY

Or, as Biden calls it, 'real' progress.