Posted on 02/24/2023 5:54:42 AM PST by Oldeconomybuyer
A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices.
The personal consumption expenditures price index excluding food and energy increased 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department reported Friday. Wall Street had been expecting respective readings of 0.5% and 4.4%.
Including the volatile food and energy components, headline inflation increased 0.6% and 5.4% respectively.
Markets fell following the report, with futures tied to the Dow Jones Industrial Average off more than 300 points.
Consumer spending also rose more than expected as prices increased, jumping 1.8% for the month vs. the estimate for 1.4%. Personal income rose 1.4%, higher than the 1.2% estimate. The personal saving rate increased, rising to 4.7%.
All of the numbers suggest inflation accelerated to start the new year, putting the Fed in a position where it likely will continue to raise interest rates. The central bank has pushed benchmark rates up by 4.5% since March 2022 as inflation hit its highest level in some 41 years.
(Excerpt) Read more at cnbc.com ...
How to screw your own country in 2 years or less. Brandon wins!!
Transient!
(and was up 4.7% from a year ago)
More like 47% or more in some items I buy at Walmart
I was going to say it’s transitory
Can’t believe there’s any fool that believes these liars
But there are
A stolen election has grave consequences.
The misery index is an economic indicator, created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation create economic and social costs for a country.[1]
So, I was looking at costs for a solar power system.
Since last summer, the solar panels and installation are similar in price (slightly lower). The battery prices have nearly doubled - making the whole system quite a bit higher.
I like your saying better!
BTW, those solar panels on roofs need maintenance, such as cleaning... algae grows on them from the heat & rain. A cloudy panel costs the efficiency!
We’re now transitory to World War III and global starvation.
The Federal Reserve started to ease off their brakes a bit. Not the time to do that.
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