Posted on 03/14/2023 6:17:54 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.
The government said Tuesday that prices increased 0.4% last month, just below January’s 0.5% rise. Yet excluding volatile food and energy costs, so-called core prices rose 0.5% in February, slightly above January’s 0.4% gain. The Fed pays particular attention to the core measure as a gauge of underlying inflation pressures.
Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week. With the collapse of two large banks since Friday fueling anxiety about other regional banks, the Fed, for now, may focus more on boosting confidence in the financial system than on its long-term drive to tame inflation.
When measured against prices a year ago, inflation has been easing for eight months. In February, consumer prices climbed 6% from 12 months earlier, down from January’s 6.4% year-over-year increase and well below a recent peak of 9.1% in June. Yet it remains far above the Fed’s 2% annual inflation target. Core prices in February rose 5.5% from 12 months ago, down slightly from 5.6% in January.
Inflation pressures remain entrenched in much of the economy. Rents, grocery prices and the cost of hotels, restaurants and airplane flights have all been surging as more Americans seek housing and spend money on traveling, dining out and attending entertainment events.
(Excerpt) Read more at apnews.com ...
Food - 9.5%
Food at Home - 10.2%
Fuel Oil - 9.2%
Energy Services - 13.3%
Shelter - 8.1%
Transoprtation Services - 14.6%
https://www.bls.gov/news.release/cpi.nr0.htm
Biden said he fixed inflation. What gives?
most prices are way up....
but some prices have come down...
Safeway discounted some bone in pork butt roasts, $.99 a pound and another store has canned beans...pinto,dark red kidney, black beans, etc....at 2 for a dollar, which is a better price than usual....
look for sales...buy sales.....its the only way to manage inflation...
You just posted the inflation index for most Americans. Most Americans don’t read about the cpi, but they do buy those things. I doubt if they take to gaslighting very well.
“...as more Americans seek housing and spend money on traveling, dining out and attending entertainment events.”
Who ARE these people? Name names, you AP LIARS!
Probably Movie Stars and Mrs. Paul Pelosi. Never mind!
“...look for sales...buy sales...its the only way to manage inflation...”
Leaving in a few to shop the local sales, today.
Also, there are so many great places on You Tube for money saving advice.
‘Under The Median’ is really awesome, if you’re not familiar with Larry & Hope out of Peoria, IL. Practical frugality. :)
Abolish/ disband the Fed, and let Capitalism govern itself. The Fed is a meddlesome disaster.
No that's not an excuse, but best to look at who gives the orders.
Inflation started the week he took office it’s never going to go down with him and his stooge crew in charge.
Cue three blind mice song
Another simple metric: The price of a can of Campbell’s Tomato Soup. My local grocery store price is now over $2. Not too long ago, I took note when it broke through the $1 barrier...
Propane is up over 47% since President Trump was in office.
I will check the price of butter and eggs and hamburger and steak and even chicken....
Nope inflation still high!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.