Posted on 10/10/2024 7:38:17 AM PDT by ChicagoConservative27
Consumer prices rose slightly in September as the Federal Reserve prepared to cut interest rates and ease off the brakes of the U.S. economy.
The consumer price index, a closely watched gauge of inflation, rose 0.2 percent in September and 2.4 percent over the previous 12 months, the Bureau of Labor Statistics announced Thursday. The annual inflation rate was the lowest since February 2021.
Economists expected prices to rise 0.1 percent in September and 2.3 percent annually, according to consensus estimates, down from 2.5 percent in August.
The new inflation data comes less than a month before the election, in which Vice President Harris is attempting to overcome former President Trump’s edge on the economy with voters.
Harris is aiming to sell voters on the rapid economic recovery from the COVID-19 recession while also showing sensitivity to inflation, which hit four-decade highs in 2022 before dropping sharply over the past 18 months.
(Excerpt) Read more at thehill.com ...
The CPI’s take on inflation is for propaganda purposes only.
My olive oil went up $2/bottle!!
If anyone believes this isn’t political manipulation, they’re stuck on stupid.
If the Fed reduces rates again, what are the chances for a bout of hyperinflation? Will history repeat?
Yes. Surprise! Just before the election they are reporting low inflation and great jobs numbers.
Election interference!
Here’s the other way of reporting this
Bloomberg News
Greg Price
@greg_price11
🚨BREAKING: Inflation is up 2.4% over last year, higher than expected.
Overall prices are up 20.5% since Kamala took office
Also big jump in jobless claims
https://x.com/greg_price11/status/1844358324185362658
Also this today
https://x.com/KobeissiLetter/status/1844356705812984123
The Kobeissi Letter
@KobeissiLetter
The Fed’s worst nightmare has begun:
1. Core CPI inflation rises to 3.3%, the first increase since March 2023
2. 258,000 people filed for unemployment this week, above expectations of 230,000
Once the September jobs report is revised sharply lower, it will reveal the Fed’s nightmare situation.
Rising inflation with rising unemployment.
They must not be including home insurance, vehicle insurance, or property taxes in their inflation calculations.
and food and electric and cable and auto repairs and parts and merchandise and hotels and ....
>>”Harris is aiming to sell voters on the rapid economic recovery from the COVID-19 recession”
Rapid economic recovery? It’s been four years since Covid. In what universe is that a rapid recovery?
LOL!
This is like stopping the banging of your head against the wall to make it feel better.
We’re still stuck with the damage of high prices going forward.
Indeed
according to consensus estimates
Nothing to take stock in
They are just making up numbers which will be unexpectedly revised later.
The CPI published by the government is manipulated to make the rate much lower that it actually is. For instance, if olive oil were in the market basket used to determine the inflation rate, and its price went up sharply, canola oil or some cheaper substitute would be used instead, on the rational that one is equivalent to the other. Of course, one is not truly equivalent to the other, but that's politics.
JOE BIDEN IS NOT DEMENTED
The earth is flat
The check is in the mail
MY DOG DOESN’T BITE
That used car was only driven by a little old lady to church & back
ETC ETC
HOME INSURANCE will rise to pay for the Hurricane damages.
There was the Biden inauguration, but I'm sure that was just a coincidence.
Unfortunately true, on top of all the recent increases we’ve already suffered.
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