Posted on 09/11/2024 11:46:37 AM PDT by ChicagoConservative27
Inflation fell to its lowest level in 3-and-a-half years in August, clearing the way for the Federal Reserve to start cutting interest rates next week.
Consumer prices in August were up 2.5% from a year ago, according to a report from the Labor Department Wednesday. That's the smallest annual increase since February 2021.
Here are four things to know about the cost of living report.
Housing costs are still climbing, but gasoline is getting cheaper Housing costs have been the biggest driver of inflation in the last year, rising 5.2%. Gasoline prices, on the other hand, have plunged more than 10%.
Overall, the price of goods has fallen nearly 2% in the last twelve months, led by a sharp drop in the price of used cars and trucks. The cost of services such as haircuts and car repair continues to climb, however.
(Excerpt) Read more at npr.org ...
NPR carrying democrat water again. there is a hole in their bucket though.
It means that things were better four years ago when Donald J. Trump was President.
The government is always lying to us.
The media always lying to us.
This report is a lie. All of us know it; any purchaser of anything knows it,
So what is the point of the lie?
Thank you Jomala!
led by a sharp drop in the price of used cars and truck
I can tell you why.
people can’t afford even a used car now. I get people wanting to finance cars that are cheaper than the average down payment. we are having to price um cheap to get um sold to cash buyers. the few that remain.
The inflation rate has slowed but prices have not gone down. When they say inflation is down all they are saying is that prices are not going up quite as fast. It’s not as if a box of cereal goes up 3 cents a month and then only 2 cents in one month, the price of a box of cereal stays the same and then jumps 50 cents. If cereal and milk and meat all jump at once, inflation seems bad. If the price of cereal milk and meat stays the same for a few months inflation doesn’t seem quite as bad. That doesn’t mean the economy is improving it just means that the prices haven’t jumped yet. They will. Lowering interest rates doesn’t mean anything to the average consumer because credit card interest rates don’t care what the fed interest rate is.
How many times will we hear this ABSOLUTE LIE. Groceries and fuel are LEFT out of the calc, and for that matter so is cost of living in a place whether rented or purchased. Interest rates you morons!!!
Check your records for comparative prices. Inflation has been running 15% to 18% for the past four years.
But only for people who need to buy groceries, gas, insurance, utilities, or houses. Or pay rent on apartments. Everybody else is doing just fine.
Pay no attention to that hole in your wallet.
It means the government is a LIAR!!!
The fed us bs employment numbers for a year, that had to be revised downwards by a million jobs, but we’re supposed to believe their inflation numbers?
NPR is just telling Administration bullshit here. Still haven’t see gas, electricity, water, phone and grocery prices drop on bit here. Even property and school taxes are expected to be higher. LIARS for hire.
Quote: “Consumer prices in August were up 2.5% from a year ago, according to a report from the Labor Department Wednesday. That’s the smallest annual increase since February 2021.”
“ATTENTION PASSENGERS ON THE TITANIC!!! Good news, the ship will now sink in thirty minutes instead of the twenty six originally announced. Joy!!! And enjoy those extra four minutes.”
Just stupid. An increase is an increase is an increase when inflation is already up year over year.
Bkmk
“””Consumer prices in August were up 2.5% from a year ago”””
and unreported is:
Consumer prices in August were up more than 25% from August 2021.
“””Consumer prices in August were up 2.5% from a year ago”””
and unreported is:
Consumer prices in August were up more than 25% from August 2021.
Usually, they focus on core inflation saying that it is more stable because it excludes the more volatile energy and housing costs. But this inflation reduction was in the overall inflation number on a year over year basis. The core inflation number went UP from 3.17% last month to 3.20% this month.
Furthermore, month to month inflation had both overall and core numbers going UP from last month. MoM overall inflation went from 0.15% to 0.19%, and core inflation went from 0.07% to 0.25%.
So they took the value they claim is the MOST volatile inflation and made it the headline because it's the only one that went down this reporting cycle.
-PJ
NPR is comedy today.
Please a dozen eggs is $4 “on sale” don’t tell me inflation is “down”.
It means nothing if the consumer items bought by the general public are not included in the calculation. And they’re NOT. Its one big lie. My grocery bill is twice what it was 4 years ago. In my book that makes the inflation rate 100%+
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