Posted on 12/22/2023 7:02:22 AM PST by ChicagoConservative27
A key annual inflation metric fell below 3 percent in November, the latest sign that the U.S. is coming in for a rare soft landing from high price growth without a recession.
The personal consumption expenditures (PCE) price index dropped to 2.6 percent year-over-year in November, according to data released Friday by the Bureau of Economic Analysis.
The October PCE price index was also revised down to a 2.9 percent annual gain.
The Federal Reserve uses the PCE price index as its main measure of inflation. The bank aims for 2 percent annual inflation when adjusting interest rates.
(Excerpt) Read more at thehill.com ...
In America, economics and finance is as phony and corrupted as literally everything else in this ridiculous land.
Mark Twain popularized the saying in Chapters from My Autobiography, published in the North American Review in 1907. "Figures often beguile me," Twain wrote, "particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: 'There are three kinds of lies: "lies, damned lies, and statistics."
If I am not honest I can make statistics say anything I want them to say except the truth.
Unmitigated horseshit
Yah, just more horse pucky. If you keep pulling things out of the calculation of inflation (e.g., gas, food, etc) then you can make anything come down.
Where was that? Certainly not around where I live. Gas recently jumped down about $0.40/gallon but then jumped back up.
I do remember that when Trump was President gas was briefly at $1.39/gallon. He said he thought it might go under $1.00 per gallon but that never happened.
Gas my location today: $3.39, National average is $3.04, that’s way down months ago. Eggs here have gone from $9 and hard to find to plenty at under $3.
Maybe you live in an expensive area.
Oh forgot, I’m in Colorado.
By the way, gas at $1.39 was a very temporary aberration, oil futures were selling for under zero due to a temporary oversupply and lack of storage. That price is no benchmark, hadn’t been seen in decades and won’t be again.
$300.00 of my money landed softly on the O’Reilly’s Auto Parts counter for a alternator for my 2011 Ram. The core charge would have been $75.00 more!
Thanks Joe!
It came from a wet market.
A Hill of bs this is.
I just went to Wal Mart. There was no decrease in food that I purchased. Still high and higher since last year. Deflation my foot.
“I just went to Wal Mart. There was no decrease in food that I purchased. Still high and higher since last year. Deflation my foot.”
Food prices rose 2.9% between November 2022 and November 2023, according to the most recent consumer price index. By comparison, at the same time in 2022 prices rose 10.6% over a one-year period.
So 2.9% higher that last year.
Here’s a breakdown by segment:
Annual decreases (November 2022 to November 2023) have been most dramatic among the following indexes:
Eggs (-22.3%).
Lettuce (-10.2%).
Apples (-5.8%).
Tomatoes (-4.4%).
Fresh vegetables (-3.1%).
Annual increases (November 2022 to November 2023) have been most dramatic among the following indexes:
Frozen noncarbonated juices and drinks (+18.6%).
Food from vending machines and mobile vendors (+14.6%).
Uncooked beef roasts (+12.5%).
Uncooked beef steaks (+9.1%).
Beef and veal (+8.7%).
I don’t believe any numbers coming out of the Biden regime.
You cannot have it both ways. If you discount today’s benign inflation numbers then you should likewise discount the red-hot numbers of a year ago. They both came from the same source.
Drop into inflation, from inflation.
Propaganda
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