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.
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?
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.
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*