Posted on 01/12/2023 5:32:56 AM PST by struggle
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment.
The index for gasoline was by far the largest contributor to the monthly all items decrease, more than offsetting increases in shelter indexes. The food index increased 0.3 percent over the month with the food at home index rising 0.2 percent. The energy index decreased 4.5 percent over the month as the gasoline index declined; other major energy component indexes increased over the month.
(Excerpt) Read more at bls.gov ...
Of inflation stops, we’re still left with high prices. It will take a while before everything balances to the “new normal”.
How much of this is demand destruction...?
They’re desperately trying to message the fed that inflation is falling, but anyone can see they just manipulated the market with the strategic petroleum reserve. (Which they have no intent on buying back)
We had this discussion on another FR thread a few days ago about any sort of conspiracy about the economic numbers the government puts out.
The numbers that get published are accurate and there is no conspiracy to rig the numbers just for the Biden Administration.
What the numbers do show is only someone that pays attention to economic numbers or is an economist that goes into the details of what the numbers indicate can understand what is happening.
The CPI supposedly declined -.1% month over month, but year over year inflation is still happening at a fairly rapid pace.
The Biden Administration and the MSM will report the monthly numbers as proof of their economic plans working and many people will believe that, when in reality the average consumer is getting crushed.
I wonder if ending of the SPR sales will have an impact on gas prices next quarter.
Also, demand in China is weak right now because of Covid. In a couple of months that will change. That could come back at us pretty harshly.
Our overlords aren’t bothered by grocery prices, but do care about the asset markets. Jay Powell is going to need a serious spine to see this through to 2%. I think the target should be 0%, but that’s a whole other discussion.
So if this sentence was written in plain English, does that mean that the index shows prices 0.1% lower than 1 year ago, or that prices increased 6.4% from last year?
Will this stop the Fed from screwing the crap out of USA.???
Lumber is down like crazy. OSB is down to almost the level it was at 10 years ago. Back then it was 7.99 and now it’s 10.99.
Last year it was around 40 bucks.
Good, my current renovation project requires wood. T&G Pine boards still aren't cheap.
Yeah, most plywood based stuff is still pretty expensive too.
Here’s one for you: A relative is in the construction business in the Seattle area, working exclusively on hi-rise buildings. It’s been very, VERY lucrative for him. Well, they just got the announcement that a large project is being cancelled before the building is actually done. And it is happening in a couple of other projects as well. Apparently the WFH popularity is finally hitting commercial building developers in seattle.
i.e. the collapse has started.
Gas was up to $3.69/gallon (Premium, no corn!) this week in the SW corner of Wisconsin.
Happy Days are here again! Let’s Go, Brandon! *SPIT*
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