Posted on 12/11/2024 7:31:12 AM PST by Red Badger
Prices rose at the fastest pace in four months in November, the second consecutive month of accelerating inflation.
The consumer price index rose 2.7 percent from a year earlier, the Department of Labor said Wednesday. Core inflation, a metric that excludes volatile food and energy prices, climbed 3.3 percent over the previous 12 months.
The results matched the forecasts of economists surveyed by Econoday.
Compared with a month ago, the broad index of consumer prices rose 0.3 percent, the fastest pace of inflation since March. If that pace of inflation were to continue for a year, prices would rise 3.8 percent. Core prices also rose 0.3 percent for the month—which was also the fastest pace since March.
Consumer optimism has risen after the U.S. presidential election, as indicated by data from the University of Michigan and the Conference Board. Small business optimism is at the best level in years, with the outlook metric of the National Federation of Independent Business’s measure of business confidence jumping in November for the biggest monthly gain ever recorded.
(Excerpt) Read more at breitbart.com ...
Note: The CPI-U (urban price index) is defined as all goods sold in or around a town with at least 10K people. IMHO, that includes a lot more “rural” towns than I’d think when I see the word “urban”. But it still doesn’t include truly rural areas.
Consumers don’t need official data.
They see and feel the effects of inflation for themselves in their everyday lives.
Just noticed at Walmart, Campbell’s family-sized condensed tomato soup can are now 23.5 ounces, down from 28 oz. Price is the same. Great Value store brand of same soup is still 28 oz, for now.
> The consumer price index rose 2.7 percent from a year earlier… <
Ha, ha, ha. More silly satire from the Babylon Bee. 🐝
Oh, wait. That number is from the Department of Labor. And they expect us to believe it.
I’d like to say more, but Bidenflation is crushing me. So I’ve got to go look between the sofa cushions for lost change. Every little bit helps these days.
Does that includes fuel and food?
Never.................
Another dose of “Building Back Better” Bidenomics.
So if we add 2.7 + 4.1 (2023) + 8.0 (2022 + 4.7 (2021) we get 19.5%. And knowing that this excludes lots of stuff it's fair to say prices under Biden have risen 25-35%. No wonder people are complaining, sheesh, Bidenomics.
Don’t be silly, non essential items like energy, food and housing are NOT in the CPI calculations any more.
Watch as legacy media starts changing their reporting on inflation. They are already starting to amend the narrative a little as they switch to acknowledging inflation exists and begin the “Trump’s fault” reporting.
No food or fuel...no good. It is stupid, in fact. No...they think WE are stupid.
It’s not simple addition, but I get the point........
Pretty close:
Since February 2020, consumer prices have increased 21.4 percent, a Bankrate analysis of Bureau of Labor Statistics data shows. That’s well above the historic average for a four-year period. For comparison, inflation rose 18.9 percent in the 2010s, 28.4 percent in the 2000s and 32.4 percent in the 1990s.
My long term budget assumes 3% inflation.
Nit picking. The rates compound so the total is closer to 21%
21.4% - post 13. The compounding over 3-4 years is not significant, the error in the index is most likely substantially more.
Sort of like unemployment numbers that drop. Oh people not filing=less people unemployed right? Those silly tricksters.
Without being completely cynical of the current administration and FedGov did the this thought cross anybody else mind:
Did Inflation accelerate, or did the government just stop lying about it because the election is over?
“Figures don’t lie, but liars figure.” - Mark Twain.............
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