Posted on 03/14/2008 8:40:13 AM PDT by bjs1779
WASHINGTON, March 14 (UPI) -- The seasonally adjusted Consumer Price Index was virtually unchanged in February, the U.S. Department of Labor reported Friday.
Following a 0.4 percent rise in January, analysts had expected a 0.3 percent rise in February but that did not occur.
The index for energy declined in February with a 1.7 percent increase in energy services offset by a 1.9 percent decline in energy commodities, the report said.
Downturns were noted in apparel and new and used cars. Healthcare costs rose modestly at 0.1 percent and food prices rose 0.4 percent.
The index for housing increased 0.2 percent, but shelter, including rent, whjch rose, and lodging, which declined, was unchanged.
The indexes for fuel oil dropped 1.5 percent, and the index for electricity dropped 0.3 percent, the report said.
The core rate also held with no change on the month.
Wow!
I don’t want to sound like a whiney lib but as a guy who does the food shopping, all that stuff is up quite a lot.
Also gasoline and home heat bills (propane for me).
So MY cost of living is up a bunch this year.
Taken in aggregate like this, it doesn’t sound bad at all. But, consumers appear to be very concerned about necessities such groceries and gas, both of which have risen quite a bit in the past several months. Falling prices elsewhere, such as with new and used cars, etcetera, are indicative of falling demand. I’ve seen a new term, or new to me at least, to describe this sort of situation ... biflation. Commodities spike, leading to higher food and fuel prices, which in turn creates a drag on consumer spending for everything else, leading to declining prices for such purchases. The whole situation is rather unprecedented, so who knows, we may even see some pundit talking about bi-stagflation, eventually.
I wonder how much they are asking for the Brooklin bridge.
>>”The index for energy declined....” <<
Yeah. I’m standing in a foot of water and the official figures said there is no flooding.
This is getting comical.
What I DO know is that last month my wife and I went on a trip for two weeks. When we left, regular was $2.85. When we got back, it was $3.26.
It just goes to show. There are lies, damned lies, and statistics.
Well, the CPI is flat out wrong. I am paying more for everything, especially energy. So I’m not buying anything but essentials.
Laundry detergent is just starting to show up in 80 oz. bottles. Currently, it comes in 100 oz jugs. Two years ago, detergent was sold by the gallon.
But hey, at least the prices stayed the same (/sarc)
And not very many other people are, either, which causes the price for non-essentials to fall, effectively cancelling out food and fuel increases in the CPI for this reporting period.
Diesel 4.09 here. Gee, I’m not seeing many of those big tow rigs used as daily commuter vehicles. I wonder why?
I know I don't buy the official stats anymore they aren't believable.
Rating the real rate of inflation
Don't believe inflation numbers
Retired face rocketing "real" inflation rate">
Interesting links, thanks
I don’t keep records but when you shop for pretty much the same stuff every week or two you get a feel for where prices are heading.
They can cook the books all they want, but it doesn't mean people will swallow it.
These are the February numbers. We are now halfway through March. I’m sure the March numbers will be satisfactorily dreadful for you.
Yesterday, the price of diesel fuel here in Eureka, NV went from $3.82 to $4.12.
And two months ago, the price of diesel was $3.42.
This is one of the reasons why I no longer believe government economic stats. They’re simply full of crap. You can drive all over the country and you see fuel prices going up. You can go into any grocery market in the US and see prices going up.
So when we see these stats come out, and they so completely fail to reflect day-to-day reality, it is pretty clear that the government bureaucrats need to be fired and the computation of the CPI turned over to the private sector.
>>These are the February numbers. We are now halfway through March. I’m sure the March numbers will be satisfactorily dreadful for you.<<
That is really not the point.
The point is that the numbers are total and utter fantacy. My trip WAS in February.
DVD players are cheaper...
good point
who woulda thought a few yrs ago a tank of gas for my Saturn > cost of a DVD player, LOL
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