The CPI for electricity is zooming.
The first time we saw anything like this was in the wake of the 1973 oil embargo, with electricity prices running higher for the rest of the 1970s.
Posted on 04/11/2024 9:04:49 PM PDT by SeekAndFind
On Wednesday, the government put out disappointing inflation statistics that show that inflation has accelerated to four-tenths of a percent last month. But that number seems unrealistically low to me. In the numbers, bureaucrats claimed that gasoline prices only went up 1.7% last month, which would be only five cents per gallon.
On the New York mercantile exchange, gasoline has risen from around $2.10 per gallon in early January to around $2.75 on March 31st; that is up 30% in three months. Crude oil has risen from around $72 at the end of the year, to $83 at the end of March; that is up around 15%. It seems impossible that inflation has stayed at three-tenths to four-tenths per month when energy prices, which affect almost everything, are rising so rapidly.
We are also told that inflation has only gone up 20% in the last four years. That seems impossible when prices for most necessities are rising so rapidly. They say food has risen around 35%, gasoline and diesel are up over 50%, and crude oil, which is used in over 6,000 products, is up over 100%.
Even if the overall inflation number is 20%, for the poor and middle classes, and especially retired people, the inflation number must be much higher because they spend most of their money on necessities. They have little left over for discretionary spending. That is why they are running up credit card debt, living paycheck-to-paycheck, and falling behind on their bills. Below are a few examples of exploding costs with which people have to deal.
(Excerpt) Read more at americanthinker.com ...
March Report: The Recession In Full-Time Jobs Is Here
According to a new report from the federal government’s Bureau of Labor Statistics this week, the US economy added 303,000 jobs for the month of March while the unemployment rate fell slightly to 3.8%. In what has become a familiar pantomime, reporters from the legacy media were sure to declare this a ‘blowout jobs report’ while Richmond Fed president Tom Barkin described the report as ‘quite strong.’
This report showed, however, that the jobs economy continues to follow a pattern that began in December of last year: namely, full-time jobs are disappearing and the ‘job growth’ reported so enthusiastically by the media is virtually all part-time jobs. Moreover, nearly a quarter of new payroll jobs are government jobs. If we look more closely at this report, what we really find is that the total number of employed persons has fallen by nearly 400,000 jobs in four months and that 1.8 million full-time jobs have disappeared over the same period.
!In the numbers, bureaucrats claimed that gasoline prices only went up 1.7% last month, which would be only five cents per gallon.)
Absolutely a lie.
Regular gas ⛽⛽⛽ is up 60 cents a gallon here in the Midwest in the last month
At least in my area
The democratic party government(s) are to America, what the CCP is to China, and what Putin’s leadership is to Russia, and what the mullahs re to Iran, and what Hamas is to Gaza.
Different countries, different leaderships, but all the same kind of lying bastards.
Does anybody around here feel that inflation has gone down in their everyday lives?
How much is it costing you to insure your car for instance?
See here:
[EXCERPT]
New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher than they were a year ago and increased from February’s 20.6% year-over-year gain. March’s rise in insurance costs is the largest gain since December 1976, when prices rose 22.4% over the prior year.
How about health insurance? See here:
[EXCERPT]
“For 2024, across 320 insurers participating in the 50 states and DC, this analysis shows a median proposed premium increase of 6%.”
How about Vehicle Maintenance? ( unless you can do the job yourself, but then what if you need to replace parts? ).
See here:
[EXCERPT]
According to the U.S. Bureau of Labor Statistics, the cost of car maintenance and repair has gone up 36.2% from January 2019 to January 2024.
One more question -— Do you still use the post office? How much has the cost of stamps risen?
Believe the opposite.
fwiw if anyone cares-
the states put out their own unemployment numbers and they are significantly more reliable than the fed.
PS inflation by definition never goes down.
Wow 😳
this.
The federal government uses bits and pieces of data to make them either look good or not as bad as things really are.
When you argue those points aren’t reality they’ll say the points they chose are correct.. most likely manipulated.
Anyone believing anything coming out of the government is a fool.
Food and fuel are not included in the bogus inflation numbers. They’re too “volatile”.
L
At home or abroad, the US government ha NO credibility
We have 2, and the second one gets about 100 miles a year, But there are times when we need both. We carry the minimum on car 2. Property taxes doubled. House insurance went up. Only claim a storm-damaged roof. We upgraded the shingles out of our pocket. Neither of us are reckless drivers.
Water bill will look like that in 2 months.
They are trying to cover it up like it was a political problem
$200,000,000,000,000/debt-unfunded liabilities-
the govt is borrowing at 4.5% for 30yrs.
NO credibility at all.
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