Bidenflation
Posted on 04/12/2022 6:39:21 AM PDT by shadowlands1960
An easing in core inflation pressures took the edge off the fastest headline reading since 1981 as headline CPI surged to 8.5% in March.
U.S. inflation accelerated to the fastest pace in four decades again last month, data from the Bureau of Labor Statistics indicated Wednesday, but a slight retreat in core consumer prices suggests pressures may be easing heading into the summer months.
The headline consumer price index for the month of March was estimated to have risen 8.5% from last year, up from the 7.9% pace in February and the fastest rate since December of 1981. On a monthly basis, inflation was up 1.2%, the BLS said, with both tallies topping Wall Street forecasts.
So-called core inflation, which strips-out volatile components such as food and energy prices, rose 0.3% on the month, and 6.5% on the year, the highest since February of 1991, the report noted, with the annual reading coming in ahead of the Street consensus forecast.
"The Federal Reserve will feel emboldened today to press ahead with its aggressive hiking of interest rates as it looks to combat inflation. While used car prices and other non-essential items have begun to reach their price peak, the headline figures today illustrates how much of this is an energy-related shock," said Hinesh Patel, portfolio manager at Quilter Investors. "Ultimately, this will continue for some time as oil producers remain content with where the oil price currently sits and the war in Ukraine rages on, adding pressure for further sanctions on Russian gas and oil."
(Excerpt) Read more at thestreet.com ...
Sure would be neat to have a few Mean Tweets coming from the White House once more!
Psaki: Putin did this.
An easing in core inflation pressures took the edge off the fastest headline reading since 1981 as headline CPI surged to 8.5% in March.
Ya know, that trivial stuff
Sell in May and go away. If we get a nice rebound today I may move some of my 401 to a stable fund. Don’t feel comfortable in this market.
Yeah.. I love how the stuff they strip out to measure ‘core inflation’ just happens to be the stuff we all need...
In other words Putin owns the US economy and Joe had been effectively neutered. A win for Putin.
Everything is propaganda.
And in America, everything is a lie.
Yep. They’ve been monkeying around with the CPI for decades. It doesn’t reflect what really matters to people, the core items, i.e., food, energy, medical, etc. It’s a joke. People know what’s really going on by their weekly purchases. 7-8-9%, yeah, sure. Double that number and we’re in the ballpark. Wait until there’s a recession, and people are out of work. That’s when the rubber really meets the road. Not good. By that time, they’ll get us involved in another stupid war, as a diversion, and further screw the American middle and lower classes. My two cents.
Too many intangibles, and some of this makes no sense. If “core inflation” is easing then inflation pressures should also ease in the coming months and the Fed doesn’t need to be overly hawkish in raising rates. Lower energy costs for example means lower input costs, delivery costs etc.
If food prices are coming down, that’s a good thing but it could be a question of demand more than supply. People make different buying decisions forcing producers to get more competitive on price.
The market is up strong this morning, which could be an interpretation that inflation will not be easing as investors believe the big cap stocks will keep pace with inflation. Also, oil is up $5 at the moment - so much for “core inflation easing”.
“On a monthly basis, inflation was up 1.2%...”
Compound Annualized, that’s over 15%. Right now. And they changed how they measure it. If they did it the same as when Carter was pres, it would be around 22%.
Which makes sense, if you look at food, gas, and power. You know, essentials.
“Everything is propaganda.
And in America, everything is a lie.”
Everything Fed and msm is a lie.
They pretend prices are not out of control and the media pretends if they are it is due to Putin.
Welcome to the Weimar express.
From my spot checking of various items, some I buy and some I occasionally buy, 20% seems about right for food prices. 12%-25% depending on the item. Meats and fish maybe not as much but that could have to do with them being perishable so they are more price sensitive - sell them or throw them out. Canned and packaged goods much higher inflation.
Since when was Wall Street a reflection on reality?
BINGO
Yep, BIDENFLATION
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.