White House: Inflation ‘Very Close to Normal’ and Prices ‘Moving in the Right Direction’ — But They’ll Go Up

Breitbart ^ | 03/01/2024 | IAN HANCHETT

[ChicagoConservative27]

During an interview with ABC News on Thursday, White House Senior Adviser Gene Sperling stated that “people have been through a tough few years” but the PCE (Personal Consumption Expenditures) price index reading is “very close to normal” and “prices are moving in the right direction” and “moderating.” But you can’t expect them to not go up.

Sperling said, “It’s been a tough few years since the pandemic,” but “inflation is coming down. In fact, it was really 2.4% in this measure, 2.8% if you don’t include food and gas. And that’s not good enough, but it is very close to normal. And there are a lot of different areas where you have seen prices come down.”

He added, “I think people have been through a tough few years and they went through 2022 when you had the variants and the global economy was getting back and you had supply chain issues and they saw prices come up. And I think it’s reasonable for people to feel like it’s been a somewhat rough few years. And there may be a lag in people starting to say, hey, now I do see that prices are moving in the right direction. And sometimes you have things like eggs or lettuce or milk where prices are going down. People say, yeah, but they’re still higher than they were, and I respect that. What I want them to know, though, is that it’s still worth understanding the facts and it’s not wrong to communicate facts about prices are moderating.”

[ChicagoConservative27]

Inflation is close to normal prices are ok but they will go up??? They really really thing we are stupid

[Yogafist]

30-40% of the country is that stupid. Just look at Biden’s polling numbers.

[TexasFreeper2009]

Inflation coming down (slowing how fast it is still RISING) is NOT the same thing as prices returning to what they were.

The Biden administration just doesn’t understand this at all, and completely misses why people are angry.

But it’s fine, their stupidity in regards to this will help bring back Trump :)

[fwdude]

Funny. Gas prices in my area just jumped 20 cents a gallon in the past week. And this is in the historically low-price time of year, before summer travel begins.

[HamiltonJay]

Please these people are laughable.

Every time I buy ANYTHING the price is significantly higher than the last time I bought it, and I’m not talking durable goods here.

I mean ANYTHING.

[Jolla]

“if you don’t include food and gas”

What the heck, no one ever uses those items anyway.

[Sacajaweau]

The problem is that they never went down...

Stop the Green crap...and things might return to some kind of normal.

[fhayek]

Two nights ago, we got twelve inches of water in the basement. But last night, we only got three more inches. So, hey, we are going in the right direction...

[Ancesthntr]

Gasoline has gone from roughly $2.60 to nearly 3 dollars in the last month. Eggs are about to explode in price again, because Biden‘s regulators forced a large calling of egg laying hens. The price of various berries is close to eight dollars per medium sized container, the highest I have ever seen it. The continued actions of the Hootie, which we are utterly failing to stop, is going to increase the price for virtually everything in the economy. So prices are already moving up rapidly, and will continue to do so for quite some time. So, as is usual, the me fact, that some official in the Biden ministration is moving his or her lips indicates that they are lying… and incompetent.

[unclebankster]

Here are the numbers on two very different inflation rates, during two different Presidencies.

The 45th President

2017 2.1
2018 2.4
2019 1.8
2020 1.2

Potato Head

2021 4.7
2022 8.0
2023 4.1

I know what numbers I’d rather have, if I was running for President in 2024.

[MTBobcat]

Housing prices are soaring.

Car prices are soaring

Food prices go up every time I go to buy groceries

Energy costs are soaring

Fuel costs are still much higher than under Trump

Even the dollar state is $1.25

Democrats can and will gaslight the public all they want, but reality is present every time a person who isn’t in the top 5% makes purchases.

[MTBobcat]

*dollar store is $1.25

Fast food dollar menu is now $2-3 per item

[Soul of the South]

The government periodically changes the calculation methodology of inflation statistics. Strangely, in almost every instance the effect is to lower the inflation rate.

Shadow Stats publishes current and historical rates of inflation based upon the government methodology in effect in 1990 so we have an apples and apples comparison extending over time.

Shadow stats reports the current rate of inflation, based on the 1990 methodology at approximately twice the rate the Biden Administration currently reports.

The inflation rate for every individual is different depending on their individual purchasing patterns. I find the shadow stats calculations more indicative of my personal experience with rising prices than the government statistics.

Why does the government change the methodology, resulting in lower reported rate of inflation? Two reasons;

1). Political messaging.
2). Lower cost of living adjustments for Social Security and government retirees, including military retirees.

[USCG SimTech]

“Turned around” 360 double speak without saying it.

[oldtech]

Dear Joe.......Don’t pee on my leg & try to tell me it’s raining...............What kind of person tries to figure inflation not allowing for two of the largest items with any consumer? I heard once about someone explaining it this way: the price of yachts had gone down quite a bit( a very large amount in dollars) so inflation was down. If you were contemplating buying a yacht it would help; otherwise you were likely saddled with huge inflation based on the things you would normally buy. Most people could identify those things they normally have to buy & how they are priced these days. When I say “most people” I guess I am not including the government “experts” who specify what inflation is.

[Brian Griffin]

I’ve been seeing quite a few surges lately.

Biden-grade inflation is back.

[PittsburghAfterDark]

I just want to say that my Food Lion is selling 12 packs of Coca Cola for $9.99.

In 2021 it was $5.79.

This is my most noticed personal gauge of inflation since I survive on Cherry Coke Zero instead of coffee. That price is never going backwards.

12 Starbucks is pushing $70 so outrage is relative.

[HamiltonJay]

Don’t you know they don’t include food and energy in their inflation numbers.

However, every time I buy ANYTHING, doesn’t matter what it is, the price is up, and up noticeably from the last time I bought it, even if it was only a few weeks or months ago.

Even without energy and food, inflation isn’t remotely under control.

[uranium penguin]

The “lettuce” he refers to here is that word salad of an answer.

[Bon of Babble]

2.4% in this measure, 2.8% if you don’t include food and gas

This is on top of the ≈ 30% increase in everything since Biden took office.

We opened a package of Girl Scout cookies yesterday and noticed the cookies are smaller and the rows contain fewer cookies than past years.

Companies are disguising rising prices via Shrinkflation.

Bought one week apart.

Bottom is pre-COVID, top is last week.

https://www.businessinsider.com/shrinkflation-grocery-stores-pringles-cereal-candy-bars-chocolate-toilet-paper-cadbury-2021-7#hershey-cut-down-its-18-ounce-pack-of-dark-chocolate-kisses-by-almost-two-ounces-6