Posted on 08/11/2022 7:53:35 AM PDT by John W
Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation, the Bureau of Labor Statistics reported Thursday.
The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the month after Covid-19 was declared a pandemic. Economists surveyed by Dow Jones had been expecting an increase of 0.2%.
On an annual basis, the index rose 9.8%, the lowest rate since October 2021. That compares with an 11.3% increase in June and the record 11.7% gain in March.
Most of the decline came from energy, which dropped 9% at the wholesale level and accounted for 80% of the total decline in goods prices, which fell 1.8%. The index for services rose 0.1%.
Stripping out food, energy and trade services, PPI increased 0.2% in July, which was less than the expected 0.4% gain. Core PPI rose 5.8% from a year ago.
(Excerpt) Read more at cnbc.com ...
He’s right. The CPI number for the monthly change in July, was zero. Actually slightly negative, but it rounded to zero.
No one says it shouldn’t be included. But in stable times it can add noise to the data that is misleading. These are not stable times, and everyone should look at the headline number, not the so-called “core” number.
So prices are still increasing, just not as fast as before.
Just like in Washington DC, a decrease in the amount of the increase of spending is a ‘spending cut’.
The Rat hacks at CNBC bending into pretzels to prop up the worst President in history.
Yes. All I see are increases—big increases—at the retail level. Plus, gas prices are still astronomical compared to two years ago.
Technically prices FELL a bit last month, but over 12 months they are up by a lot. Would need many more negative numbers to say credibly that prices are falling.
Incorrect: People are still buying...
via trading economics (although note the last sentence - they’re never adjusted, so it’s still apples and apples)
US Retail Sales Rise More than Expected
Retail sales in the US jumped 1% mom in June of 2022, beating forecasts of a 0.8% gain, and recovering from a downwardly revised 0.1% drop in May. Figures showed consumer spending remains robust but also reflect a general increase in prices for goods and services. Retail sales aren’t adjusted for inflation.
The article was not written out of ignorance.
This is pure, deliberate propaganda to make people think it's not as bad under Biden as it really is.
Our nation is mathematically illiterate thanks to lazy ass leftist teachers.
what was it that was “pure falsehood and misinformation” in the post? Please specify.
So you’re really not pregnant when the Doctor says “Good news, it’s not triplets, it’s only twins”.
Correct. People have maxed out their credit cards so not buying. Higher sales do not mean more stuff is being sold. Same stuff higher prices falsely shows increasing sales.
Excerpts that follow are from: https://www.tradingview.com/chart/ZC1!/iouAL0GU-The-CPI-Fantasy-And-Commodity-Prices/
"Economists argue that core CPI better reflects inflationary pressures because food and energy prices can be highly volatile .... The problem with core CPI is that food and energy make up a significant part of budgets. Rising prices for the products that fuel our lives and provide nutrition for our bodies is taking an ever-increasing bite out of paychecks is a reality, while eliminating them distorts the actual cost of living for the majority of people. .... Thornton Melon would say that core CPI only exists in 'fantasy land.' The substantial increases in food and energy commodities paint a very inflationary picture. ....Food and energy prices are the tip of an inflationary iceberg.
I would need to agree with Thornton Melon's view, when he says core CPI only exists in 'fantasy land.'
And lib Dems been using “rate of change” to try and fool people for a very long time in a multitude of categories.
of course you’ll see the price rigging go down into November and then shoot up after the election. The RATS are on top of their game with an illiterate electorate.
Econ 101 (circa. 1970) “Stagflation”.
Wow, that steak went from $15.50 a pound to $15.25 a pound. Praise the Lord!
Actually, more like it went from $15.50 to $15.75, when it could have been $16.00 instead. That’s an “improvement.”
I’m so happy! I got xitch-slapped 0.5% fewer times last month.
I can feelbit too, I really can, a little less numbed!
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