Posted on 10/13/2021 8:17:42 AM PDT by BenLurkin
Consumer prices increased slightly more than expected in September as food and energy price rises offset declines in used cars, the Labor Department reported Wednesday.
The consumer price index for all items rose 0.4% for the month, compared with the 0.3% Dow Jones estimate. On a year-over-year basis, prices increased 5.4% versus the estimate for 5.3% and the highest since January 1991.
However, excluding volatile food and energy prices, the CPI increased 0.2% on the month and 4% year over year, against respective estimates for 0.3% and 4%.
Dow futures were slightly positive following the news while government bond yields were mostly higher.
Gasoline prices rose another 1.2% for the month, bringing the annual increase to 42.1%. Fuel oil shot up 3.9%, for a 42.6% year over year surge.
Food prices also showed notable gains for the month, with food at home rising 1.2%. Meat prices rose 3.3% just in September and increased 12.6% year over year.
“Food and energy are more variable, but that’s where the problem is,”
(Excerpt) Read more at cnbc.com ...
You might be a moron if you think cutting energy production increases prices is unexpected.
Unexpectedly.
Cue the Casablanca clip. Lucky for us the 5.9% SS cola will cover these increases. I hear SS has plenty of money.
Democrats never expect anything they cause. Not even what they intentionally cause.
Whew, thank goodness. Inflation is not bad as long as you don't eat, drive, fly or buy anything delivered by air, rail or truck or made with an energy input. Happy Days Are Here Again!
“The Biden Plan is working.” - Joe Biden
“Gasoline prices rose another 1.2% for the month, bringing the annual increase to 42.1%”
I was (in San Antonio) paying about $1.60/gallon at the time of the stolen election last November. Now the typical price is $2.80. That’s a $1.20 increase off of a $1.60 base, or 75% inflation.
As with most government statistics, it is worse than a damned lie. Our government has become very much like China’s, with the various economic statistics being utterly unreliable, and always skewed to make the government look good.
Misery index is rising.
As long as you can eat Ipods for dinner you are doing great.
Whole lotta Brandon defenders on Facebook making that exact argument. That cutting production has nothing to do with prices and that a president doesn’t have any control of fuel prices
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