Gee, what happened in 2021?......................
Posted on 01/12/2023 6:08:42 AM PST by Red Badger
The latest inflation numbers come after the Federal Reserve raised interest rates in mid-December as part of ongoing attempts to lower inflation.
The Consumer Price Index in December increased by 6.5% compared to the same time 12 months earlier, the Labor Department announced Thursday.
The prices for all items fell 0.1% from November to December, the agency also reported.
The CPI is a measure of inflation that shows the average change in the prices that consumers pay for goods over time.
Inflation is currently below the four-decade high of 9.1% in June.
Food prices remain high as the overall cost of food was 10.4% higher in December than it was a year earlier, according to the agency. Food costs also increased by 0.3% from November to December.
The latest inflation numbers come after the Federal Reserve raised interest rates in mid-December by half of a percentage point as part of the central bank's ongoing attempts to lower inflation.
The December CPI report is the final one before the Fed is scheduled to make a decision about interest rates on Feb. 1, according to CNBC.
Food and energy are not included in the calculation for core inflation which allows them to hide the real inflation that people actually live with.
FJB needs to get one of his Snowflakes or Zeros to read this to him.
Best economy in 50 years!
… it’s so because MSNBC TOLD me it’s so!
Exactly. In my latest power bill the true rate per kWh I was paying (after adding riders and tax) was up over 14% over the same month last year. This is on top of the increase from the prior year.
December 2020 it was 12.3¢/kWh, in December 2022 it was 14.8¢/kWh --- an increase of 20.3% in two years.
Obiden: If you like cheap power for charging the EV we force you to drive, you can keep it. End of quote. End of line.
Easy, just stop using electricity.
What a joke. My wife sends me to the supermarket with a list every few days (simple things that I can find and recognize). Most of the stuff has gone up 25%-50% in price over the past couple of years. Prices in particular in the past 6 or 8 months have been way up.
The Egg display case has an armed guard......................
[Most of the stuff has gone up 25%-50% in price over the past couple of years.]
yes
That Inflation Reduction Act is working like a charm.
Happy days are here again ... oops, wrong party chant.
Inflation down 0.1%.
Ole Joe will be doing wheelies around the Rose Garden.
[Caution to Consumers: Sticker shock is still likely.]
[Local Walmart price for 1 dozen eggs is still $5.12 (42-cents each) — no increase in the last 2 weeks.]
“Inflation up 6.5% ...”
That is still a long way from the FED target of 2%.
Gee, what happened in 2021?......................
I just paid my natural gas bill — heating [small 2-bdr apt] and hot water, not cooking — was $135 for the month.
The previous high was Feb 2022 at $124.
The next previous high was Feb 2021 at $85.
That is well beyond the 6.5% inflation increase.
I don't even know what my natural gas bill would be like now because over a year ago I replaced my natural gas appliances with high efficiency electric ones as part of going solar and trying to make my home more energy independent and give my retirement planning a hedge against the Dims' stupid energy policies.
What I can tell you is that many power companies were forced to create a higher portion of their power from natural gas fueled plants than before because Obama forced them to shut down a lot of coal plants. Thus, when Brandon made the cost of natural gas go up, the cost of making power also went up -- a cost that's put into the power bill. This effect has always been there some (it's not like there were no natural gas fueled power plants before Obama). But the Dims' war on coal has made power rates and natural gas price joined at the hip in many red states (states like Alabama that didn't opt to replace coal with solar and wind that's stupid to do at the utility level).
Gas company is warning me that my January heating bill may double or triple.
Eggs at the local markets are $7.99 to $9.99 a dozen.
So they’re telling us inflation is down?! Haha.
Government figures are always cooked.
Inflation is raging at a much higher rate.
From Shadow Stats.
Inflation if the feds were using 1990-based calculations:
And 1980 based:
http://www.shadowstats.com/alternate_data/inflation-charts
That number is complete BS.
What they don’t say is that last year’s number was 8% higher that the year before that!................
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