Fall in fuel costs helps inflation ease to 9.9% in August

SKY News ^ | September 14, 2022

[Oldeconomybuyer]

The rate is a marginal fall from the 10.1% seen in August, prompting hopes that the UK might narrowly avoid a recession.

The rate of inflation eased slightly to 9.9% in the 12 months to August, aided by a fall in fuel costs.

The Office for National Statistics said that the fall in fuel prices was the main factor in the fall from the 10.1% CPI seen in July.

The rise in food prices has been the main reason the overall inflation figure has remained high, however.

[Red Badger]

...................

[mmichaels1970]

The rate of inflation eased slightly to 9.9%

Well Happy Days are Here Again!

[mikelets456]

If——

Trump in office-—Inflation is killing everyone because he’s a Nazi!

Biden in office-—Inflation is a good thing and we’re getting back to normal.

[BitWielder1]

We all paid for that fuel cost reduction by Biden selling strategic reserves to China.
It would have been much better to drill for more.

[nascarnation]

Somebody told the Dems SPR stands for Strategic Political Reserve....

[gibsonguy]

“EASE” to 9.9 lol

[Mlheureux]

I thought fuel and food weren’t considered when calculating inflation?

[RedMonqey]

Tired of Biden’s “Winning” yet?

[Sacajaweau]

I thought I saw that they don’t include food costs in this formula.

[dsrtsage]

That’s funny in the last two weeks, here in Nevada gasoline has risen from $4.99 to $5.40

[Red Badger]

Food, Fuel, energy.......................you know, the things people actually buy every day................

[tnlibertarian]

I thought I saw that they don’t include food costs in this formula.

This is UK, and I don't know how they calculate it. But in the US, there are two main CPI numbers. The main one they announce, 8.3 for August, includes everything. They also have Core CPI that excludes food and fuel.

[Gaffer]

Using THEIR numbers and classification, ONLY a 9.9% inflation rate helps them avoid a ‘recession?’

I’d like to know what they think a depression is because I think they’re gonna be neck deep in it pretty soon, myself.

[sport]

Nope. As long as the people continue to get what they voted for it is OK with me. Myself? I voted for Trump and prosperity. But what do I know? 81 million Biden voters can't be wrong. If I were 20 to 40 years old, looking to the future, I might be a little nervous. In fact, I would be scared as hell. But I am old and gray. Well, old anyway. So my days, at the most are numbered in the low digits.

[M Kehoe]

Stagflation is a nasty situation to be in, right Mr. Carter?

5.56mm

[mountainlion]

Fuel prices have gone down in the Federal statistics but prices at the pumps do not follow federal edits. Chuck Missler said you can torture statistics until you get the results you desire.

[mykroar]

They’re spinning like the AP.

[FlingWingFlyer]

ROTFL. Some of the “’conomy experts” need to get out more often. Do a little shopping and then send a letter to Bentonville, AR advising them to ease off on the inflation for a while.

[FlingWingFlyer]

They’ve already started to climb back up into “I Did That” Biden territory here.