Posted on 08/11/2022 11:12:51 AM PDT by Red Badger
Prices charged by U.S. businesses were up 9.8 percent in July compared with a year ago, the smallest 12-month gain this year.
The Department of Labor said Tuesday that its Producer Price Index for final demand fell 0.5 percent in July compared with a month earlier, largely because gasoline and oil prices fell. This was the first month-to-month decline in more than two years.
Economists had expected an annual rise of 10.3 percent and a monthly increase of 0.3 percent. Last month, the Producer Price Index was up 11.3 percent compared with June of 2021 and 1.1 percent compared with the prior month.
The Producer Price Index hit a record high year-to-year of 11.6 percent in March.
Excluding foods, energy, and trade services, producer prices moved up 0.2 percent in July, a deceleration from the 0.3-percent rise in June. For the 12 months ended in July, the index for final demand less foods, energy, and trade services increased 5.8 percent, a slowdown from the 6.4 percent annual gain in the prior month.
(Excerpt) Read more at breitbart.com ...
The result of out of control government and out of control government spending.
the number is 9.8%.....stop playing games with the “smallest increase”....blah blah blah...
punching harder resulting in love taps..
This can’t be right. Joe just said yesterday that inflation was zero.
Excluding foods, energy, and trade services
hmmm... okey dokey
(as Inflation Eases Slightly)
😅😅😅😅🤣🤣🤣🤣
🙄🙄🙄🙄🙄🙄🙄🙄
It’s a year-over-year number. It’s up 8.5% from last July. Last July, we were talking about whether elevated inflation was transitory at 5.4% over the prior year.
In other words... it’s 8.5% this year on top of 5.4% last year. Not a good trend at all.
They got that ‘0’ by saying because the July number was the same as the June number, then there was ZERO INFLATION..............
2+2=5........................
It was 9.8% on Monday, 9.8% on Tuesday ... 0% increase! Got it.
Meat prices look like they are going up dramatically in the near future and bad harvests in the Midwest could cause additional pain in the fall.
I had been paying $3-5 for a 10lbs bag of potatoes for years. My Mom went to the local grocery store and that same bag had jumped to $9 and the main store manager was standing nearby and she knows him and commented about it and he said I know, I hate to tell you this but in the next few months look for them to close in on $15...
That is a much better line of attack than “the BLS or Biden is lying about the numbers.”
Inflation is far too high. Everyone knows it. The Biden/Schumer/Pelosi policies bear a large part of the blame. They overstimulated because they could. It was stupid and there’s no sign they learned any lesson from it.
Lower deficits put less upward pressure on inflation, higher deficits put more upward pressure on inflation. Cut the deficit, cut inflation.
See, that is exactly what it does mean. In that ONE MONTH, there was no additional inflation.
Don’t forget the drought and because of it cattle herds will be reduced. Saying that inflation has reduced is a joke. All you have to is go shopping at the grocery store and see the price of food to know this.
ONLY 9.8% this year? Doubleplusgood news, Comrades!
it’s 8.5% this year on top of 5.4% last year
^^This^^
This I fear is lost on the masses. This is like a 14% increase in prices since Brandon took over as President. An item that cost $100 in July 2020 during President Trump's time in office is now $114.
Unless your salary went up 14% over the past 2 years you have effectively gotten a pay cut. Inflation will likely go down slowly as well so expect a likely 5% or more increase next year.
How is everybody's retirement portfolio faring? I'm down 5% YTD so Brandon's economic policies will mean I will likely have to work 4 more years than I expected. Thank goodness 80 is the new 60 /s.
Prices up 10% yet the gov’t says inflation is easing?
No one that stops at a grocery store or gas station believes that!
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