Posted on 08/10/2023 8:44:25 AM PDT by Kaiser8408a
Welcome to Boss Biden’s America! It reminds of woefully corrupt Boss Tweed and Tammany Hall in New York City. Today’s inflation report revealed that core CPI YoY was 4.7%.
While energy prices are down since last year, Food prices are still up 4.9% YoY and shelter (housing) CPI is up 7.7% YoY.
Expectations for this morning’s must-watch CPI print were for a MoM and YoY rise in the headline, and modest slowing of the core YoY. However, The Fed will be watching its new favorite signal – Core Services CPI Ex-Shelter – which reaccelerated in July (+0.2% MoM, and from +3.9% to +4.0% YoY).
The headline CPI rose 0.2% MoM in July (as expected), the same as in June, pushing the YoY up to 3.2% (from 3.0% in June) but below the 3.3% expected.
Source: Bloomberg
Today’s increase in CPI YoY broke the record-equaling streak of 12 straight months of declines.
Core CPI rose 0.16% MoM, with the YoY growth in prices slowing to 4.7%.
Source: Bloomberg
So the question becomes – is this an inflection point in inflation? (or is M2 still leading the way?)
Yet, Fed Funds Futures are pointing to no further Fed rate hikes.
With House Republicans releasing bank records showing over $20 million in payments to Biden family, associates, and Democrats denying any wrongdoing, I think we are seeing the Biden Administration as a rebirth of New York City’s Tammany Hall corrupt political machine led by Boss Tweed. Since Biden’s malfeasance/influence peddling occurred when he was Vice President under Barack Obama (aka, Barry Soetoro), Obama is the new Bathhouse John Coughlin the woefully corrupt Chicago Alderman and Hunter Biden is the new Hinky Dink (Michael Kenna, also a woefully corrupt Chicago Alderman).
Bathhouse Barry Soetoro, Boss Biden and Hinky Hunter at a basketball game.
(Excerpt) Read more at confoundedinterest.net ...
Core inflation at 4.7... What a damn lie!
For us little people, that is, non-eleite American citizens, it is much higher.
Gas prices just went through the roof for Early July, did they measure that? Deisel, too, which means big increases for shipping 99% of what we buy. THAT too will be passed on to us.
I see Social Security is going to you these low-ball figures for the coming year’s cost of living allowance, which will put us even further behind.
Core inflation at 4.7... What a damn lie!
For us little people, that is, non-elete American citizens, it is much higher.
Gas prices just went through the roof for Early July, did they measure that? Deisel, too, which means big increases for shipping 99% of what we buy. THAT too will be passed on to us.
I see Social Security is going to use these low-ball figures for the coming year’s cost of living allowance, which will put us even further behind.
You believe those numbers? They have been more than a joke for a long time.
Should have been above .2% with the gas price rise we saw in late July.
Inflation rate is irrelevant.
INFLATED PRICES that remain high after the very high inflation rate: that’s the real number(s) that should be quoted. Once the prices of everything goes up, they don’t come back down. Inflation rate coming down does not bring the inflated prices down.
Global warming of course.
Those on fixed income and what’s left of the middle class are being beaten down by all these increases.
Biden just bragged about the secret service protection his grandchildren get!
Government workers in Law Enforcement are demanding a twenty (20) percent COLA. Twenty Percent.
Keep in mind kids that every point up is a point up for government taxation.
The .gov gets that inflation right into their books.
Not one dime....Remember?
I as many others accept this insane inflation as we can not do anything about it. We go to the grocery store and take it in our economical ass. We know who caused it. It was Biden. It is a slow burning anger. It will be expressed in the next election, if it is an honest election.
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