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 ...
Outright lying!
Wall Streets reaction to today’s inflation report and that report was a lie as it did not report the actual realm higher rate we all know.
Today:
S&P 500
3,985.91
-124.50(-3.03%)
Dow 30
31,530.09
-851.25(-2.63%)
Nasdaq
11,790.98
-475.43(-3.88%)
Low gas prices haven’t done jack. Jo Jo’s high gas prices have caused the cost of EVERYTHING ELSE TO SKYROCKET. Gas may have fallen a few cents but everyone else isn’t about to drop their newly inflated prices. I have yet to see anything drop in prices due to the falling gas prices. And a few cents of the cost of gasoline doesn’t begin to make the inflated costs we’re paying for everything else to drop. BTW: What happened to all the bullshot JoJo’s “media” has been selling us for the past two years that Jo Jo’s increases in the cost of fuel wasn’t driving inflation? Friggin’ liars. Which is it? You can’t have it both ways. Friggin’ clowns have yet to figure out how the economy works.
I am old enough to remember when they didn’t include gas prices in the inflation calculations. My how a chomo with a “D” next to his name changes things.
Translation:
The economy is really, really, really, really crappy, but not really, really, really, really, really crappy . . .
“On a monthly basis, prices rose 0.1%, after a flat reading in July.”
So it’s higher than last month... but it fell.
“war is peace”.
The media is supposed to be protecting the country from tyranny. It is just the opposite.
Some of it is because a lot of people are only spending their money on the basic items. They cannot afford anything else.
Sugar coating to protect Adolf Brandon and his thugs.
Dow futures drop 400 points after hot inflation report
CNBC ^ | 09/14/2022 | Jesse Pound
Posted on 9/13/2022, 6:09:57 AM by tanstaafl.72555
Stock futures dropped on Tuesday morning after an August inflation report came in hotter than expected.
Dow Jones Industrial Average futures sank 406 points, or about 1.3%. S&P 500 futures fell 1.7% and Nasdaq 100 futures slid 2.3%.
The August consumer price index report showed a higher-than-expected reading for inflation. Headline inflation rose 0.1% month over month, even with falling gas prices. Core inflation rose 0.6% month over month.
Economists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation.
(Excerpt) Read more at cnbc.com ...
Wow.
Talk about Orwellian.
That's like saying the national debt is down because the rate of increase is less than it was during the peak of the pandemic.
Here’s another viewpoint:
“So would you like “ESG” and high inflation as far as you can measure it forward or would you like to start throwing folks like PimPco’s executives in prison, along with Blackrock, for violating 15 USC Chapter 1 or even Racketeering?
Because if you don’t cut the crap with energy you’re going to get the high inflation, rates are going to skyrocket and stay there and the government will not be able to spend beyond what it taxes, which means the collapse of Medicare and Medicaid.
Which will it be folks?
Incidentally as I’ve pointed out the PPI has a roughly 12 month lag in it between what it shows and what the consumer gets. Therefore anyone with even half a working brain should have expected this print and the internals of it.”
https://market-ticker.org/cgi-ticker/akcs-www?post=246932
There you have it. Building back better... what Biden
smashed.
What a joke! How can a supposed news outlet actually print that with a straight face???
Notice the disparity in the titles:
Dow futures drop 400 points after hot inflation report:
https://freerepublic.com/focus/f-news/4092954/posts
Why the disparity? Because the AP is part of the Biden virtual state media, and like Biden wants to hide the fact that inflation falling 0.1 % wile remaining above 8% is an insignificant change, and that insignificance is what the financial markets registered early today.
We gave one of our younger DNA pools my Honda Ridgeline this summer and we are down to one vehicle, my wife’s 15 year old Lexus. I didn’t buy any gas for it in Aug or Sept so far.
Our produce selection at our favorite store has had a lot of good deals this few weeks. The produce manager said that will stop for 2 reasons in October.
#1. Seasons will be ending here and produce will be coming from S. California and Mexico. So that will come at a higher cost as our season winds down.
#2. Most of our produce is coming locally from about 1-2 hours by truck now. As we shift to Mexican and S. California produce, transportation costs re distance and higher fuel use will increase prices. Then prices will start dropping again until the next election.
We know a fellow, whose company has a fleet of pickups and semis, and they are stocking up on fuel now. They feel, if the republicans win in key governor races and Congressional races, fuel prices will come down until the winter demands impact the market.
If we lose key elections at key governor levels and Congressional levels, fuel prices will then start a new 2 year+ price increase.
After I read this I ran into three or more articles on the
inflation rate going up rather than down.
The AP is shameless these days.
Just wait until the RR strike on the 16th of this month.
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