Posted on 09/11/2024 11:46:37 AM PDT by ChicagoConservative27
Inflation fell to its lowest level in 3-and-a-half years in August, clearing the way for the Federal Reserve to start cutting interest rates next week.
Consumer prices in August were up 2.5% from a year ago, according to a report from the Labor Department Wednesday. That's the smallest annual increase since February 2021.
Here are four things to know about the cost of living report.
Housing costs are still climbing, but gasoline is getting cheaper Housing costs have been the biggest driver of inflation in the last year, rising 5.2%. Gasoline prices, on the other hand, have plunged more than 10%.
Overall, the price of goods has fallen nearly 2% in the last twelve months, led by a sharp drop in the price of used cars and trucks. The cost of services such as haircuts and car repair continues to climb, however.
(Excerpt) Read more at npr.org ...
The inflation rate has slowed but prices have not gone down. When they say inflation is down all they are saying is that prices are not going up quite as fast. It’s not as if a box of cereal goes up 3 cents a month and then only 2 cents in one month, the price of a box of cereal stays the same and then jumps 50 cents. If cereal and milk and meat all jump at once, inflation seems bad. If the price of cereal milk and meat stays the same for a few months inflation doesn’t seem quite as bad. That doesn’t mean the economy is improving it just means that the prices haven’t jumped yet. They will. Lowering interest rates doesn’t mean anything to the average consumer because credit card interest rates don’t care what the fed interest rate is.
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Interest rates affect everything we buy. The higher interest rates his home buyers, but they also increase the cost of business borrowing. Who pays for that? You do.
“NPR is just telling Administration bullshit here.”
Yep. At least Bloomberg is somewhat honest:
“US Core Consumer Prices Rise More Than Forecast at 0.3%”
https://www.youtube.com/watch?v=rvro_x4KHLI&t=21s
“NPR is just telling Administration bullshit here.”
Yep. At least Bloomberg is somewhat honest:
“US Core Consumer Prices Rise More Than Forecast at 0.3%”
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The markets believe there’s plenty of meat on this bone. https://www.cnbc.com/2024/09/10/stock-market-today-live-updates.html
The stats are from the government ... they are all false and rigged.
more goverment lies. inflation is not at 2.5 percent its way higher, not just grocies and gas
I live in central Illinois. I’ve been paying north of $4.50 for premium gas since I can remember. It is a nice reprieve to have gas prices drop. I filled up last week around $3.80 per gallon. Regular gas is around $3.20.
Inflation growth fell to its lowest level in 3-and-a-half years in August.
They forgot the word growth.
It is still growing.
So prices are still going up, just not as fast.
What it means is the democrats are trying their darnedest to win the election.
Gas prices “plunging 10%”? That’s an exaggeration. They have gone up and down 10% almost every month.
WalMart prices where I live keep going up and up. And gasoline went up today.
I have lived through several inflations in my lifetime, this is the worse
That is such bullshit! Yesterday I went to the grocery store and let me tell you what I bought I got three lemons, one cucumber, grapes, milk, crackers, bypass the meat department too expensive, some frozen taquitos, a bag of tostadas, two boxes of cereal, And some other little items some frozen fruit and couple of cans of corn and green beans and a loaf of bread all of this amount to $80. My God if I am feeling it no report or article is going to change the fact that groceries are becoming more and more expensive and if you notice Supermarkets are becoming less and less crowded. I remember going to our neighborhood Walmart always jampacked and now I can just walk in and walk out without any lines whatsoever. That should be a red flag for FJB and the cackling hyena! No amount of sugarcoating can cover the stench of the crap sandwich they’re trying to serve us. Consumers are pissed off! And mind you I did not buy chicken or beef can’t afford it The only meet I can afford is when they have the yellow sticker for immediate sale. Sad to say but it’s the truth.
Inflation has not fallen and all the stats are being manipulated to justify a Rate Cut when what is needed is 100 basis point increase.
We have been in a recession for several months and the data is finally catching up with this. But Juice the Stock Market to make it look like prosperity is here for all.
.
Oct 2023 eggs price at Walmart
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Sept 2024 eggs price
Where is *here*?
Gas is still over $3/gallon in NY, VT, and NH. Probably the rest of New England as well, but those are prices I’m actually seeing.
Except for the first week of the month when EBT refreshes, then it is jammed packed with illegals and the dregs.
Maybe, but inflation is still up 20% from 4 years ago.
Nobody is being fooled.
Yep 3.59 a gallon here in upstate NY. Put a “we did it Joe” Kamalama Ding Dong sticker on the pump,
That’s a planned pre-election manipulation.
Biden used our strategic oil reserve to get them down.
The 2.5% is additive year over year. Had it dropped 20% I’d be happier.
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