Posted on 10/13/2022 6:05:11 AM PDT by Red Badger
Inflation ran hotter than expected in September, continuing to squeeze U.S. households and worsen a political headache for President Biden with just one month until midterm elections.
The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.4% in September from the previous month. Prices climbed 8.2% on an annual basis.
Those figures were both higher than the 8.1% headline figure and 0.2% monthly increase forecast by Refinitiv economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with an aggressive interest rate hike campaign.
In an even more concerning development that suggests underlying inflationary pressures in the economy remain strong, core prices – which strip out the more volatile measurements of food and energy – climbed 0.6% in September from the previous month. From the previous year, core prices jumped 6.6%, the fastest since 1982.
(Excerpt) Read more at foxbusiness.com ...
Expect the unexpected.
WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest rates aggressively.
(AP spin)
Drink?...
Treasury yields are on fire.
If he's HAVING TO GO TO CALIFORNIA TO CAMPAIGN it must be really BAD!.....................
Liberal Oregon candidates are in such trouble, they invited FJB to campaign for them.
And Portland tomorrow!!
And the major market averages plummeted on the news.
The S&P 500 futures were up about 1% before the announcement, are now down 2%, a 3% swing.
I love how they characterize inflation as “Stubborn”. Like some insolent child. We all know the person in the White House is the reason for this. He’d like this “Stubborn” inflation of go back in the closet just long enough until the elections are over - that’s why he’s depleting out strategic reserve. This can all be solved with a regime change.
BIDEN is the reason they are in trouble in the first place!
Liberals doubling down on STUPID as per normal.....................
“Unexpected.”
*DRINK*
I’m not sure my liver can take all of this good news!
Let’s Go, Brandon! *SPIT*
So I guess Biden won't be able to say inflation is flat. But who knows, yesterday I learned that his son Beau was killed in Iraq.
I think I’ll watch the lesbian, negro, immigrant explain this one today. She’ll be particularly funny.
Shadow Stats shows Consumer Inflation as hovering between 18-20% in just one year! One! And they haven’t even added in all of the October data, yet.
http://www.shadowstats.com/alternate_data/inflation-charts
The S&P 500 futures were up about 1% before the announcement, are now down 2%, a 3% swing.
—
Meanwhile payPal (PYPL) is down another 5% premarket. Die, payPal, die!
All she has to say is that it was Trump’s fault and every MSM stenographer will nod their heads like bobblehead dolls in a hurricane..................
Our livers would be pickled if we played that game with Democrat economic “unexpecteds.”
People are selling off their gold at an alarming rate. They’re keeping their silver though, which is wise.
Hopefully, they’re converting their gold to LEAD.
I’m just riding it out as I did during the 0bama Reign of Error. *Rolleyes*
So HAPPY to be a Retiree who will soon be living on a fixed income. Yay! Happy Days ARE here again!
*SPIT*
(I need more coffee; I’m running out of spit, LOL!)
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