Posted on 08/31/2023 9:54:21 AM PDT by fwdude
Yet another inflation metric jumped in July, further debunking claims that inflation is in the rear-view mirror and reinforcing Federal Reserve Chairman Jerome Powell’s remarks earlier this month that additional interest rate hikes would be needed.
The latest Personal Consumption Expenditures (PCE) price index print released Thursday was in-line with expectations which were higher than previous reads.
Headline PCE inflation showed an increase of 3.3 percent year-over-year and Core PCE inflation — excluding volatile food and energy prices — increased 4.2 percent in the last year.
Compared to the previous release, headline and core PCE inflation increased 3.0 percent and 4.1 percent, respectively, showing that price increases continue to trend in the wrong, more expensive, direction. The July report also (again) debunks President Joe Biden's wishful claims that inflation is "down."
(Excerpt) Read more at townhall.com ...
Cola expectation for Social Security expected to be a a great big 3%.
Then Part B expected to go up about 15.00 to 179.00
Yep, the basics for 2 seniors, with 2 senior 12 lb dogs is over $100 a week. I have to include Nexium as a basic, Tricare Life won’t cover it, nor can I take the other 3 they use. Copays went up at Express Scripts. And I do those idiot diget coupons which are getting more specific to pick up/delivery. Or 1-2 days a week. Commissary is worse than Kroger/Walmart.
Homes sales down, multiple furniture makers closing.
I was looking through a newspaper archive the other day and came across a grocery store ad from 1963.
Flour, 5-lb. bag .......49¢
Hamburger, 3 lbs. .....99¢
T-bone steak, per lb. ..59¢
Most young people today wouldn’t recognize the “¢” symbol but it was once widely used in the days of silver-backed dollars.
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