"Let me explain why this is good news ..."
Posted on 09/13/2022 5:53:44 AM PDT by Oldeconomybuyer
US inflation rose by a higher-than-expected 8.3% in August despite falling gasoline prices — adding pressure on the Federal Reserve as it decides whether to impose another super-size interest rate hike.
The August reading of the Labor Department’s Consumer Price Index, a closely watched measure of the costs of goods and services, rose 0.1% compared to July. Economists had expected a slight month-over-month decline.
American households remained under severe pressure. Core inflation, which excludes volatile food and gas prices, rose 6.3% year-over-year and 0.6% compared to July.
Headline inflation ticked lower as gas prices continued to recede from record highs reached in June. The national average price of a gallon of gas was $3.707 as of Monday, down from a peak of more than $5 in mid-June.
But the price of other daily necessities such as food, rent and many consumer goods have stayed uncomfortably high for cash-strapped Americans.
(Excerpt) Read more at nypost.com ...
Unexpected!
*Drink*
Wait until the SPR outflow stops.
Gas will be back around $5 at Christmas. If you are flying for the holidays—buy your tickets now.
CEO of Bank of America told Bret last night that the GDP this quarter will be flat followed by at least 2 quarters of decline. That would make about (at least) 5 quarters of negative gdp growth, that my friends is a bad recession.
"Let me explain why this is good news ..."
Yup.
This makes me happy. Is that weird?
Exactly... that SPR outflow is the ONLY reason for the drop in gas prices.
Shut up and buy an EV you loser. They are only $60K.
Where is her red nose and rainbow colored hair?
yep! I agree the decline in gas prices is almost over. Biden will have to stop depleting the national reserve soon and once he does the price will spike hard up and there will be no other cards for Biden to play.
It’s game over then.
Unexpected ..
Who knew ??
Amazing how bad news for Democrats is always “unexpected”
The only way this will get better is when these commies are gone like a freight train.
If the SPR runs out of oil, what reserves will protect the US in case of an oil embargo by foreign countries?
Alcohol poisoning, incoming. LOL
Inflation? There is no inflation.
Come on,man!
Probably caused by the J6 protestors...
August Producer Price Index issues tomorrow morning at 8:30
July PPI had prices up 9.8 percent from July 2021 to July 2022.
https://www.bls.gov/opub/ted/2022/producer-prices-up-9-8-percent-from-july-2021-to-july-2022.htm
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