Annual inflation falls below 3 percent for first time since March 2021

The Hill ^ | 08/14/2024 | Taylor Giorno

[ChicagoConservative27]

Consumer prices rose 0.2 percent in July following two straight months of flat or declining prices, the Labor Department reported Wednesday.

The consumer price index (CPI) also slowed to a 2.9 percent annual increase in July, down from 3 percent in June, falling below 3 percent for the first time since March 2021.

The latest inflation reading comes as the Federal Reserve gears up for long awaited interest rate cuts ahead of the upcoming election, and at a moment of economic anxiety as the unemployment rate has started to tick up.

Borrowing costs have remained at a 23-year high since last July when the Federal Open Markets Committee (FOMC) hiked rates to a range of 5.25 to 5.5 percent.

The committee has voted to keep rates at the current range at each subsequent meeting, and hopes that they would vote to ease monetary policy earlier in 2024 were dashed by an uptick in inflation this spring.

[ChicagoConservative27]

Cough cough BS. Tell that to my grocery bill.

[A_Former_Democrat]

Does this index actually include groceries?

[Vaduz]

Indeed who would ever know the change.

[xp38]

Oh happy days are here again!

[SaveFerris]

The sHill is a lying Democrat propaganda machine

Unfit for lining a bird cage

Same with Newsweak

They're just trying to justify the lousy COLA that Democrat Joe Biden and friends will do for Social Security

Most everything is still up, substantially

I found a March 2020 receipt from Walmart - looks like I paid about $1.49 for 18 eggs

Those same eggs are now $3.82

Thanks Democrat Joe Biden!

[ProtectOurFreedom]

Great. Inflation today is 3%.

What about the 30% to 40% increase in prices Brandon caused (with a lot of R help)? Are they going to unwind that? Of course not — higher prices are here to stay.

[Kaiser8408a]

Check out the food price table under Biden/Harris.

https://confoundedinterest.net/2024/08/14/still-crazy-after-4-years-of-biden-harrisnomics-core-consumer-prices-inflation-up-for-50th-straight-month-hits-new-record-high-up-3-2-yoy/

[aquila48]

Or restaurants.

[SaveFerris]

So the eggs are 256% of the price they were just 4=1/2 years ago

Or a 156% price increase

Thanks, Democrat Joe Biden

[adorno]

Consumer prices rose 0.2 percent in July following two straight months of flat or declining prices, the Labor Department reported Wednesday.

Bold-faced lying.

Prices declining or remaining flat?
br> Prices will NEVER decline, and prices will not remain flat with the inflation rate still higher than zero. Nowhere on the planet do prices ever remain flat when inflation is always above zero. The math doesn't compute.

Even if inflation goes to zero, and remains zero for the next 10 years, the already high prices will remain high and never come down. Lower inflation rate does not equal lower prices of goods and services.

[Bookshelf]

If you believe anything the government (or the Hill for that matter) have to say, you should join the Democrat Gullible Brigade. Anyone who shops knows its a lie. Yesterday, the price of hamburger just increased by 15% over last week at my store.

[bgill]

So, that insurance hike we just got was just a dream.

[Bob434]

Or gaso.ine prices, or lumber prices or home products prices or or or- everything is way up due to increased shipping prices due to high fuel bil.s

[bgill]

Hmm, my income sure didn’t increase 256%. The value of people’s hard earned savings didn’t magically increase 256%.

[1Old Pro]

Inflation is cumulative.

So when a basket of food goes from $100 to $135 dollars, now that it is going up further at a rate of 3% annually doesn’t really help much.

[SaveFerris]

Yep and they’re talking a lousy 2.65% COLA this year in the wake of everything up 35% to 100% or more under Democrat Joe Biden

Every person who shops for groceries should know what a disaster Joe Biden and the Democrats are

That’s why they need World War III as a distraction before the election

[Diana in Wisconsin]

Consumer Price Index (what we PAY for things) in July 2020 was 259.918.

CPI in July 2024 is 314.54.

BELIEVE your own lyin’ eyes!

https://data.bls.gov/pdq/SurveyOutputServlet

[SaveFerris]

And about 3 weeks ago, those same 18 eggs were around $4.30 when I checked

I’ll have to try and magnify the receipt because the numbers are pretty faded

Around 2018 or so, one Walmart got overstocked and were selling the 18 for $1.36 to get them off the shelf

[Round Earther]

The inflation rate only dropped on the things you never buy.

[Deo volente]

Groceries, Utilities, Car insurance, Rent, Auto repair, all up 20% or more. This <3% thing is a big, fat lie.