Skip to comments.Inflation cools in July as CPI rises 8.5%
Posted on 08/10/2022 7:12:41 AM PDT by John W
Inflation eased slightly last month but held near its highest level in four decades even as gas prices fell and supply chains improved. The Bureau of Labor Statistics' latest Consumer Price Index (CPI) reflected a year-over-year increase of 8.5% in July, down from the prior month's 40-year high of 9.1%. Consensus economists were expecting last month's reading to show an 8.7% increase, according to estimates compiled by Bloomberg.
Core CPI, which excludes the volatile food and energy components of the report, remained firm, rising at an annual 5.9%, unchanged from June's figure.
The gasoline index fell 7.7% in July, marking the largest month-over-month drop in this component of the report since April 2020. A downward trend in gasoline prices over more than 50 consecutive days provided some relief to U.S. consumers last month after record energy costs pushed inflation to the highest reading of the cycle in June, but inflationary pressures remained strong across other components of the report.
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Cooled,,,,,,, COOLED!!! WTH
“Inflation cools” if the outside temperature drops from 110 to 105 F, that’s only cooling in the technical sense; it’s still HOT.
The monthly rate for July is less than June. But the yearly average didn’t change because a lower inflation month of July 2021 dropped off the 12 months they added together.
(Bidenflation rolls on)
Demand destruction is working?
Oil Supply up. https://www.eia.gov/petroleum/weekly/crude.php
And the chocolate ration was raised to 20 grams!
All hail Big Guy Brother!...................
Yahoooooooo always lies.
And selects article for similar propaganda.
Only 8.5% using the cooked numbers.
Well that makes me feel ever so much better.
They’re cooking the books. Deep state controls all the numbers. They are doing it on gasoline demand numbers that defy reality, and they are going to do it on the inflation numbers.
I have no doubt the people in charge of calculating these key economic indicators have an agenda and it ain’t accuracy.
Cooled? Seriously? Is there anything the media doesn’t lie about? If this was Trump, it would be 24/7 of struggling puppies, kittens and babies....I despise these freaking liars.
Only government math could conclude this is cooling.
Even though inflation is up 8.5% from last year, since it’s down from 9.1% last month, the media and the Biden Regime will claim that inflation is going down.
Near record high inflation spun in a headline to be ‘better’? 8.7 to 8.5 and they try to spin that into a positive?
In other words, The Titanic isn’t sinking as fast as it was.
Well, we’re in a recession.
The Inflation Reduction Act is working already.
Those Democrats sure are doing a good job.
/s/ Drooling Democrat Voter
But how did July 2022 compare to July 2020 or July 2019? When the base numbers keep elevating it’s easier to get a lower growth number.
And in related news, our chocolate rations have been increased from 25 to 20 grams per week.
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