Posted on 09/13/2022 6:12:39 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households.
Consumer prices surged 8.3% in August compared with a year earlier, the government said Tuesday. Though still painfully high, that was down from an 8.5% jump in July and a four-decade high of 9.1% in June. On a monthly basis, prices rose 0.1%, after a flat reading in July.
Inflation remains far higher than many Americans have ever experienced.
Republicans have sought to make inflation a central issue in the midterm congressional elections. They blame President Joe Biden’s $1.9 trillion stimulus package passed last year for much of the increase. Many economists generally agree, though they also say that snarled supply chains, Russia’s invasion of Ukraine and widespread shortages of items like semiconductors have been key factors in the inflation surge.
Yet the signs that inflation might have peaked — or will soon — could bolster Democrats’ prospects in the midterm elections and may already have contributed to slightly higher public approval ratings for Biden. In his speeches, Biden has generally stopped referring to the impact of high prices on family budgets. He has instead highlighted his administration’s recent legislative accomplishments, including a law enacted last month that’s intended to reduce pharmaceutical prices and fight climate change.
(Excerpt) Read more at apnews.com ...
LMAO
lame attempt for a leftist to spin this TERRIBLE news.
Fake news headline at its best.
Biden and the socialists have destroyed the economy.
Wall Street wasn’t impressed by the “drop”. It’s still over 8%.
Joe Biden is a toxic parasite.
Oh it has? Seems worse to me.
Exactly. Lipstick on a pig.
“On a monthly basis, prices rose 0.1%, after a flat reading in July.“
Scumbags
These writers are going from Alinski to North Korean.
It’s comical at this point.
Wow. AAAAPPEEE Gaslighting Special !!!
Problem: Gas prices have not historically been included in inflation. Food & Fuel are excluded from the calculation. They're manipulating the CPI.
Additionally, have diesel prices dropped anywhere in the US? Here in HELLINOIS they remain stubbornly high at $5.29 - $5.49/gal in the 20m radius that I live in.
Until DIESEL prices come down, production & shipping costs for EVERYTHING will remain high and be a key driver of inflation.
Weird, because several posts down says just the opposite
US inflation rose by a higher-than-expected 8.3% in August despite falling gasoline prices
https://freerepublic.com/focus/f-news/4092952/posts
Gas prices will skyrocket after the mid-terms.
Biden and the dems are depleting our strategic oil reserves to drive prices down before the elections. After the mid-terms, there won’t be much left to to the strategic oil reserves. Gas prices will then skyrocket over $5 per gallon again. Everything else will go up too because of that.
This is the equivalent of a German paper on D-Day with a headline “Allies cleaning the beaches of Normandy today”
My neighbor, who is a consulting agronomist, says at current diesel prices, some crops just aren’t economical to ship.
Inflation is getting WORSE. Core inflation rose from 6.1% to 6.3%. Fed will have to raise another 0.75. They need to get a handle on this or a wage inflation spiral is going to occur.
Ooo celebrate 8.3% monthly inflation... What the hell insanity is this.
Seems to me that ‘Christopher’ and the Government doesn’t go to any fricking grocery stores. I go pretty much every day (2 miles away) to catch the marked off stuff and “sell-by-date-expiring” bargains and they’re the ONLY items I’ve seen that have dropped. Everything else is on the catch-up price rise cycle.
Gas prices down drastically….lol!! Prices doubled then went hack to a 6 year high . Unbelievable…
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