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 ...
According to the people who count the votes in 2020.
LOL, what a headline. Woman gets raped, but rapist throws her a $5 bill and she was poor so her net worth rose 100%.
Wow, what a damn dirty lie.!
What a blatantly dishonest piece of garbage.
CNBC said inflation came in hotter.
8.3 is Year/Year. Not monthly. Still bad.
These headlines are a joke. Where’s the headline that says the rate in August exceeded expectations by 0.2?? I believe the consensus was 8.1% and Biden delivered 8.3%. Great news, smh.
It was higher than “expected.” The annualized rate was unchanged from last month at 8.3% year over year.
The loathesomeness of these media liars is hard to stomach. Yeah, a 0.2% reduction in the annualized rate of runaway Biden-flation is really something to celebrate. And at that, economic statistics are just guestimates. A change of several percent might reflect general reality. A government-claimed monthly change of 0.2% means nuts, except for propaganda.
they are not fooling anyone with that headline. Money talks BS walks. Look at the market for the truth.
Dear AP:
US inflation rose by a higher-than-expected 8.3% in August despite falling gasoline prices...
Stock futures dropped on Tuesday morning after an August inflation report came in hotter than expected.
Never underestimate the stupidity of the American people.
Oh, good God... inflation INCREASED over July. WTF are these pukes smoking?
“Food & Fuel are excluded from the calculation.”
That’s because it only affects people who eat and consume energy.
One sure way to fix inflation fast is a deep recession. Not talking some technical 2 negative quarter GDP, but a deep one with massive credit defaults and job losses. Think that was the lesson of the 70’s, don’t be Burns, instead be Volker. Get it over with fast. Of course a lot less debt floating around in the 70’s and home prices were reasonable, so this one could get real ugly.
With one additional caveat, those who PAY for food and energy, unlike our royal politician class.
True. And that right there is probably the #1 reason why diesel prices are being kept artificially high.
cheaper used cars?
On what planet?..................
GMTA!......................
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