Annual inflation falls to 3.1 percent

The Hill ^ | 02/13/2024 | SYLVAN LANE

[ChicagoConservative27]

Consumer prices rose 3.1 percent over the past year and 0.3 percent in January, according to data released Tuesday by the Labor Department.

The annual inflation rate fell from 3.4 percent in December while monthly price growth accelerated slightly from a 0.2-percent rate last month.

Economists expected the annual inflation rate to fall to 2.9 percent and monthly inflation to come in around 0.2 percent, according to consensus estimates.

The January inflation decline is the latest sign of the U.S. economy holding up better than many experts expected with just nine months until the November elections.

[ChicagoConservative27]

Cough Cough BS

[piytar]

Anyone who believes any fedgov numbers these days is an idiot. Or a Democrat. (Oops redundant there.)

[JudyinCanada]

And the bullshit rises about 10%.

[xoxox]

[John S Mosby]

Did they include energy, gasoline and groceries in data? The clever details leave out the number one effectors of inflationary price. Prices which NEVER come down, btw.

[dead]

Slowing the pain is a little better, but we are all still paying the increased prices resulting from the last 3 years of major inflation due to Bidenomics.

[Empire_of_Liberty]

This was one of the things that shocked me in the recent Putin interview. Putin floated this ridiculously low number for America’s inflation. Assuming he is well informed, I can only conclude that he was propping up America’s illegal federal administration.

[Freedom4US]

Great news everybody!!

After 20 years your “money” will have only lost 80% of its purchasing power.

[Antoninus]

This is 100% because gasoline prices are low at the moment. And that is because it’s an election year. As soon as the Left decides that it’s time to put the hurt on internal-combustion car owners again, the prices will be sky-high.

[hinckley buzzard]

Sure, that’s why the Dow is down 400+ points right now.

[Jolla]

Maybe but my monthly food budget will be met on 2/15, gonna have to stretch out those beans and rice this month.

[sauropod]

Really, Sylvan?

I just went to a restaraunt (diner) the other day and burgers are now $10.99. Not including the fries. Just the burger.

Copays for my GP used to be $25.00. Now they are $30.00.

3% annual rate of inflation my ever expanding hindquarters.

[Vision]

The Hill’s propaganda: say “Annual inflation falls to 3.1 percent” when it was projected to fall to 2.9 and rose month over month. Despicable, dishonorable people.

[Ken H]

Here what CNBC says =>

---

“Dow drops 400 points as hot inflation report sends Wall Street reeling: Live updates”

FEB 13 20249:41 AM EST

https://www.cnbc.com/2024/02/12/stock-market-today-live-updates.html

[woodbutcher1963]

I know that they manipulate these figures to meet their political needs.
However, I noticed on my last trip to the grocery store that some things have come back down in price to pre covid levels.
For example, Freshetta frozen pizzas were on sale for $3.99.
This is just one example. I do not keep track of these things, but this seemed like a pretty good price.

Eggs also are back down in price. I typically buy my eggs from locals who have chickens. They have been steady at between $4-$5/dozen.

New and used car prices have come down. One YouTuber said they were down 23% from their highs. Big pickup trucks are sitting on the Ford dealership lot down the street. Two years ago the lot was empty.

Housing prices have come down in a lot of markets. Some markets like Austin are down dramatically. Other markets like New England are hardly down at all. All real estate is local.

Lumber and other building materials are back to their pre covid levels. In fact we have seen two British Columbia sawmills announce permanent shutdowns in the last month. Other BC mills are cutting shifts. This is because the timber prices in BC have stayed high. The mills are now losing money at the current wholesale price.

[Woodman]

Regular Gas in NJ 3 weeks ago $2.69, 2 Weeks ago, $2.79, this week $.2.97. Nothing to see here /s

[Ken H]

Treasury yields rising across the board. That means they’re falling in value =>

https://www.cnbc.com/bonds/

[Poser]

Without at least 20% deflation, those of us retirees on fixed incomes still are down about 15% since the start of the Biden administration, and with this year’s addition we will be around 23% down on real income.

I don’t care if inflation goes to zero. Retirees have already lost about 15 years of lifetimes savings and interest.

[Miami Rebel]

A. The number was higher than expected, hence the sell-off in bond and stocks.

B. It’s amusing to see the selectivity of people’s perceptions of economic statistics. A number that confirms the reader’s bias is hailed while a number that doesn’t is rigged.

[Deo volente]

My household inflation rate is more like 15-20%. Utilities are the latest thing to skyrocket. Gas, electric, water, all way up.
3.1% is a fantasy.