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Inflation hits 8.3% in August — worse than expected despite falling gas prices
NY Post ^ | September 13, 2022 | By Thomas Barrabi

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 ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: braking; brandon; cola; cpi; inflation; karenabuse; karencantread; karenlovesbiden; keywordabuse; sidebarabuse; unexpected; zero
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To: Oldeconomybuyer

"UNEXPECTED!"
61 posted on 09/13/2022 11:13:07 AM PDT by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: Oldeconomybuyer

Gas prices drop when people don’t have the money to go anywhere.


62 posted on 09/13/2022 11:32:42 AM PDT by rdl6989 ( )
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To: rdl6989

Plus Brandon has already drained over half the SPR.


63 posted on 09/13/2022 11:35:56 AM PDT by nascarnation (Let's go Brandon!)
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To: dragnet2

Dow is down 1089 points as of this post.

Let’s go, Brandon!


64 posted on 09/13/2022 12:06:53 PM PDT by Nathan _in_Arkansas (Hoist the black flag and begin slitting throats. )
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To: Oldeconomybuyer

Or they will say something like “the inflation RATE only increased 0.01 of a percent.”.


65 posted on 09/13/2022 12:08:49 PM PDT by Sam Gamgee
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To: MrRelevant

No as it gives us some hope this November. Unless the Democrats control the elections of course.


66 posted on 09/13/2022 12:09:30 PM PDT by Sam Gamgee
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To: mykroar

Interested to know how many billions of equipment the US military is burning in the Ukraine.


67 posted on 09/13/2022 12:10:27 PM PDT by Sam Gamgee
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To: frogjerk

It originated in Fabian cigar rooms and is the basis for Keynsian BS. They will always argue things would be worse without intervention. There is no efficient stock or commodity market. That too was BS.


68 posted on 09/13/2022 12:12:47 PM PDT by Sam Gamgee
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To: Oldeconomybuyer

Get a load of this howler...

https://www.cnbc.com/2022/09/13/investing-club-dont-get-caught-up-selling-in-tuesdays-inflation-report-overreaction-heres-why.html

🤣🤣🤣🤣


69 posted on 09/13/2022 12:13:28 PM PDT by mewzilla (We need to repeal RCV wherever it's in use and go back to dumb voting machines.)
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To: Oldeconomybuyer

It’s OK. The official statement from crazy Uncle Joe says:

Today’s data show more progress in bringing global inflation down in the US economy. Overall, prices have been essentially flat in our country these last two months


70 posted on 09/13/2022 12:34:06 PM PDT by Hurricane Andrew (There are no evil thoughts except one: the refusal to think.)
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To: Oldeconomybuyer

Falling gas prices in the midst of inflation = recession. Consumption goes down, so demand goes down.


71 posted on 09/13/2022 1:17:12 PM PDT by Eleutheria5 (All Hail the MAGA King, beloved of Ultra MAGAs and Deplorables!)
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To: ClearCase_guy
I can't help seeing a rag doll in a wife-beater t-shirt... If she was a guy it would be a major fashion scandal...


72 posted on 09/13/2022 1:25:08 PM PDT by dayglored ("Listen. Strange women lying in ponds distributing swords is no basis for a system of government.")
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To: basalt

Just went from SF bay up to North Idaho to house hunt.
CA gas was 4.50 to 5.30 up I5. Oregon was mostly 4.35. Washington was 4.25-4.45 and Idaho was 4.09 on the Indian lands. Some of the highest I’ve ever seen it in any of those states. it was 3.30 on the Indian lands in November 21 when I was there.

Diesel was between 5 and 6.20 at all those stops.


73 posted on 09/13/2022 1:26:18 PM PDT by SPDSHDW (Buy JHP ammo, Level 3/4 armor and rifles. Won’t be able to for much longer, and we’re gonna need em)
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To: dayglored

Well, she has the brains of a rag doll.


74 posted on 09/13/2022 1:26:19 PM PDT by 1Old Pro
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To: Oldeconomybuyer

The preezy jams at the WH with heroin addict while inflation rages.

“Not a joke, Jack!”


75 posted on 09/13/2022 1:30:40 PM PDT by clintonh8r (Truth is hate speech to those who hate the truth.)
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To: JonPreston
Dow down to 31,104.97today

Delayed Data As of 4:13pm ET down -1,276 points

What we have here is a Dead Cat Bounce, on wet cement


76 posted on 09/13/2022 1:32:07 PM PDT by spokeshave (Proud Boys, Angry Dads and Grumpy Grandads.)
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To: Sam Gamgee
No as it gives us some hope this November. Unless the Democrats control the elections of course.

True. This means abortion is likely going to be a backburner issue now. People will be b****ing about inflation. So that should influence midterms pending October surprise.

77 posted on 09/13/2022 2:29:29 PM PDT by MinorityRepublican
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To: Oldeconomybuyer

How long, before, we here the Demons and their propaganda media, telling us, inflation would have been higher, if it wasn’t for the “Inflation Reduction Act”.


78 posted on 09/13/2022 2:30:24 PM PDT by Ez2BRepub
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To: MrRelevant

Same, in a sad way because it’ll affect my finances, but a good way politically for a red wave in November. I’m tired of the 24/7 Trump stories, and we’ve all known all along that stories like this were meant to be hidden so it won’t affect the Democrats. They only have abortion and Trump to run on, and they own this one bigly!


79 posted on 09/13/2022 3:28:32 PM PDT by Dominic01 (Political correctness has become a psychosis)
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To: MinorityRepublican

I would hope so. Not to labor the point on abortion but despite all the hoopla, all a person needs to do is go to another state if they really are intent on an abortion.


80 posted on 09/13/2022 3:41:56 PM PDT by Sam Gamgee
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