Posted on 09/14/2022 7:52:25 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession.
Some of the longtime drivers of higher inflation — spiking gas prices, supply chain snarls, soaring used-car prices — are fading. Yet underlying measures of inflation are actually worsening.
The ongoing evolution of the forces behind an inflation rate that’s near a four-decade high has made it harder for the Fed to wrestle it under control. Prices are no longer rising because a few categories have skyrocketed in cost. Instead, inflation has now spread more widely through the economy, fueled by a strong job market that is boosting paychecks, forcing companies to raise prices to cover higher labor costs and giving more consumers the wherewithal to spend.
On Tuesday, the government said inflation ticked up 0.1% from July to August and 8.3% from a year ago, which was down from June’s four-decade high of 9.1%
But excluding the volatile categories of food and energy, so-called core prices jumped by an unexpectedly sharp 0.6% from July to August, after a milder 0.3% rise the previous month. The Fed monitors core prices closely, and the latest figures heightened fears of an even more aggressive Fed and sent stocks plunging, with the Dow Jones collapsing more than 1,200 points.
(Excerpt) Read more at apnews.com ...
AP: It’s the consumer’s fault.
Yeah. People who buy stuff are to blame.
driven by consumers? No. driven by Govt spending.
Blame the victim.........................
We’re already in a recession.
Let’s call it what it is, 1970s style “stagflation.”
Leave it to ASS-Press to pour a bottle of Channel No 5 on a turd.
Gas rising 4 times is the cause of most of the inflation. Biden could end it in 20 minutes if he wanted.
Well heck yeah. Everybody knows that. If folks would just quit buying groceries and cars and gas and furniture and houses we could get this under control. 😵💫🤡🐂💩
Sorry, fake AP news, inflation is the dollar’s loss of buying power. Consumers aren’t responsible for that. The Federal Reserve and government spending are responsible for that.
Yep, the good old AP, always here to help.
If consumers didn’t buy anything, what would happen to
businesses in a month or two?
Where do they find these brain-trusts?
AP everyday: Spin, Spin, Spin
Contrary to this article, a good measure of the current inflation is not demand-induced, but rather supply curve shifts. A major contributor is oil prices. Using distillate fuels is a small segment of the oil use. It finds its way into food prices via fertilizers, products via plastic packaging, and obviously distribution costs via high diesel prices.
The fix? A good start would be for President Dufus to reverse his EO’s that killed the XL Pipeline and further restricted federal oil leases. He could also streamline the permitting process for oil exploration, drilling, and distribution. However, whomever is pulling Joe’s puppet strings wants to keep oil prices high and promote green energy. Going down that path with today’s technology is going to crush this economy.
Yeah, literally what they are doing!
Anything except an administration/government spending out of control.
And of course it will “spread across the economy,” what sort of idiocy is that? It’s all connected and you had some of the most essential costs that impact every aspect increase early on: energy.
This really is the 1970s and stagflation all over again, except that today we did it 100% to ourselves rather than foreign interests (OPEC). Covid were OUR policies (shut downs and massive spending). Our energy policies we own (dependence and shortages). The war in Ukraine we instigated... But it’s ANYONE but the administration fault.
Tass & Pravada weren’t this ridiculous....
Wait a sec. I thought AP said there was good news on the inflation front =>
US inflation falls for 2nd straight month on lower gas costs
The Associated Press
September 13, 2022
https://freerepublic.com/focus/f-news/4092955/posts
Americans stubbornly continue to eat, drive to work, and buy prescriptions. Some of them even heat/cool their homes!!
OMG! THIS IS SO PERFECT!!!! I just saw this on the WAR ROOM ticker…. “It’s the grocery cart, stupid!” MAGA CANDIDATES PLEASE USE!!!! I beg you!!! Make this your opening statement! Please!
“There’s too much consumin’ going on out there!”
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