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Inflation speeds up, ends 2024 at 2.9 percent
The Hill ^ | 01/15/2025 | Tobias Burns and Sylvan Lane

Posted on 01/15/2025 6:58:29 AM PST by ChicagoConservative27

Inflation picked up speed in December as the U.S. economy showed unexpected signs of strength at the end of 2024.

The consumer price index (CPI) rose 0.4 percent in the final month of 2024 and ended the year up 2.9 percent, according to data released Wednesday by the Labor Department.

Economists expected the annual inflation rate to hit 2.9 percent and prices to rise 0.3 percent on the month, according to consensus estimates.

The new inflation numbers come as the Federal Reserve faces a crossroads with President-elect Trump set to take office Monday.

The Fed ended 2024 with three consecutive rate cuts meant to bring borrowing costs down from two-decade highs. But as the job market rallied and inflation picked up to close out the year, the Fed signaled it would not cut rates as quickly in 2025.

(Excerpt) Read more at thehill.com ...


TOPICS: Culture/Society; Government; News/Current Events; Your Opinion/Questions
KEYWORDS: bidenflation; bidinflation; inflation; percent; speeds; unexpected; up
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President Trump to the rescue
1 posted on 01/15/2025 6:58:29 AM PST by ChicagoConservative27
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To: ChicagoConservative27

I guess my net 1.8% SS increase didn’t quite keep up. Oh well, at least Ukraine got their money.


2 posted on 01/15/2025 7:00:49 AM PST by Right Brother
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To: All

My SS check shrinks each month. Groceries are becoming a luxury. I may be reduced to sharing the cat-ke-bob my Haitian neighbor offers.


3 posted on 01/15/2025 7:02:02 AM PST by BipolarBob (are glass coffins the future? remains to be seen.)
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To: ChicagoConservative27

They say inflation is 2.9 percent but bacon is $12 per pound.

Doesn’t add up.


4 posted on 01/15/2025 7:11:04 AM PST by jeffersondem
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To: jeffersondem
They say inflation is 2.9 percent but bacon is $12 per pound.

I think eggs are up 100%, fuzzy math I guess.

5 posted on 01/15/2025 7:13:59 AM PST by 1Old Pro
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To: jeffersondem

Illegals like bacon. And they get free food stamps.
Ditto with legal Americans collecting free food stamps.
Next time at grocery checkout, observe overloaded shopping carts. Most likely they will pay with food stamps now called EBT. Big food companies love EBT system. They employ lots lobbyists who are the real bosses of congress critters.
Add 2+2 together.


6 posted on 01/15/2025 7:15:42 AM PST by Bobbyvotes (Congrats to Trump/Vance tea.m. America has been saved. For a while at least. )
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To: ChicagoConservative27

You can’t control inflation without controlling the cost of energy and Government spending.

Biden and the Democrats drove both way up.


7 posted on 01/15/2025 7:25:07 AM PST by Pete Dovgan
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To: 1Old Pro
I think eggs are up 100%, fuzzy math I guess.

Fuzzy math my A$$!... just MORE LIES and BULL$HIT from the MSM and the current administration.

Here's a SIMPLE example.. my favorite 16 ounce jar of Kroger brand peanut butter 3 1/2 years ago regularly sold for 99 cents... that SAME jar now sells for $2.29.

8 posted on 01/15/2025 7:28:54 AM PST by VideoDoctor
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To: ChicagoConservative27

Fed Reserve cuts rates and inflation speeds up. We need to recognize the box they are in was created by them. STAGFLATION is the word, is the word, is the word........


9 posted on 01/15/2025 7:40:41 AM PST by Racketeer
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To: ChicagoConservative27

10 posted on 01/15/2025 7:43:12 AM PST by newfreep ("There is no race problem...just a problem race")
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To: Racketeer

Stagflation is when there’s high inflation along with high unemployment.

The unemployment rate isn’t high.


11 posted on 01/15/2025 7:44:12 AM PST by SeanS
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To: 1Old Pro

The average rate of inflation is 2.9%.

It’s up and down depending on where you live.

If you live in a rural environment, your inflation might be higher than 2.9%.


12 posted on 01/15/2025 7:45:50 AM PST by SeanS
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To: SeanS
The average rate of inflation is 2.9%.

Not under Biden.

13 posted on 01/15/2025 7:46:46 AM PST by 1Old Pro
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To: 1Old Pro

No, I’m saying right now.

If it’s reported as 2.9%, that’s the national average. Often times it’s higher depending on where you live.


14 posted on 01/15/2025 7:52:23 AM PST by SeanS
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To: SeanS
No, I’m saying right now.

The problem with the high inflation under Biden is that prices don't decline when inflation returns to normal levels.

15 posted on 01/15/2025 7:54:17 AM PST by 1Old Pro
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To: ChicagoConservative27

“The Fed ended 2024 with three consecutive rate cuts”

In order to support Democrats.

Now, reverse them so we have time to recover before 2028.


16 posted on 01/15/2025 8:02:20 AM PST by Mariner (War Criminal #18)
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To: 1Old Pro

Sticky prices. Yeah.


17 posted on 01/15/2025 8:06:36 AM PST by SeanS
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To: jeffersondem

This article reports “annual inflation”, “service inflation,” and “housing inflation”. “Core inflation” exempts food and energy prices because their prices can be too volatile or fluctuate wildly. So, flange heads, like me, don’t know what they are talking about. And that’s the way our gubbmint likes it.


18 posted on 01/15/2025 8:23:53 AM PST by PerConPat (The politician is an animal which can sit on a fence and yet keep both ears to the ground.- Mencken)
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To: ChicagoConservative27

too bad my per item grocery cost didn’t only go up 2.9%


19 posted on 01/15/2025 8:27:56 AM PST by WoofDog123
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To: BipolarBob

https://www.morningstar.com/economy/whats-your-real-inflation-rate

Food costs have seen the second-highest rate of inflation over the past year, and they’re less likely to be variable among different consumers. (Everyone has to eat!) Even so, there are some interesting variations in the rates of inflation among subcategories, and they might affect whether your personal rate of food inflation is higher or lower than the baseline food inflation rate of 10.9% reflected in CPI. For example, the cost of food prepared at home has increased at a nearly 14% rate over the past year, whereas the cost of food consumed away from home (for example, in restaurants) has jumped by just 8%. Cereal and bakery-product prices have increased by more than 16%, whereas fruit and vegetable prices have escalated by a less painful 9%. Alcoholic beverage prices have seen a relatively mild inflation rate of 4.3%, but coffee drinkers have contended with a more painful 18% inflation rate over the past year.


coffee drinkers suffering, alcoholics doing ok

https://www.reddit.com/r/cocaine/comments/13k3ajb/how_come_the_pricing_for_most_illegal_drugs_has/?rdt=49914
How come the pricing for most illegal drugs has been unaffected, even when this current inflation was at its worst?

drug users not affected...........................


20 posted on 01/15/2025 8:52:50 AM PST by PeterPrinciple (Thinking Caps are no longer being issued, but there must be a warehouse full of them somewhere)
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