Inflation rose faster than expected in August, keeping prices painfully high

[Kyle]

The consumer price index unepxectedly climbed 8.3% in August, despite a decline in gas prices

Inflation rose more than expected in August, continuing to create severe financial pressure for U.S. households even as the cost of gasoline fell.

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in August from a year ago. Prices climbed 0.1% in the one-month period from July.

Those figures were both higher than the 8.1% headline figure and 0.1% monthly decline forecast by Refinitiv economists, likely a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand. Stock futures tanked on the surprisingly hot report, with the Dow Jones Industrial Average down more than 400 points on fears of an increasingly aggressive Fed.

Inflation rose faster than expected in August, keeping prices painfully high

The Labor Department released the latest inflation data set on Tuesday, revealing just how hot consumer prices ran in August as the Fed tries to cool the economy.

www.foxbusiness.com

 

[Hijinx]

Inflation rose higher than the Governments expectation. it didn't raise higher than most Americans expectations. I expect the same in September and after the elections there is no telling where it will go until the Republicans start actually doing something.
Which is itself in doubt.

 

[stgislander]

But... but... gas/diesel prices are falling!!!

 

[Kyle]

But... but... gas/diesel prices are falling!!!

Dems are hoping the strategic reserve lasts long enough to get to the election.

It'll be dead empty by then, but...

 

[SamSpade]

But... but... gas/diesel prices are falling!!!

Yeah, well, someone had to PAY for that gas the last year or so. So they need to make the money back.

The IRONY was, the Dems were planning a CELEBRATION of the "Inflation Reduction Act" - TODAY.

 

[herb749]

But... but... gas/diesel prices are falling!!!

Diesel not as much as gas which is keeping food costs high.

 

[herb749]

Yeah, well, someone had to PAY for that gas the last year or so. So they need to make the money back.

The IRONY was, the Dems were planning a CELEBRATION of the "Inflation Reduction Act" - TODAY.

Well they will claim its down from 9.1% so its working.

 

[herb749]

All the utility companies are going to ask for price increases soon.

 

[Kyle]

Well they will claim its down from 9.1% so its working.

I laughed but it will happen.

 

[SamSpade]

Well they will claim its down from 9.1% so its working.

That's because either - the White House doesn't understand the numbers - or they hope the public doesn't.

Inflation is measured year to year, for each month. Dear God, if it were month to month - we'd all be dead.

8.3% - from last year. This was in LIEU of "reducing inflation" AND 'lower' gas prices (as opposed to a few months earlier, even though they're stll chokingly high - it reminds me of a guy who bragged he only drank TWO CASES of beer a day, down from THREE).

 

[SamSpade]

BTW - the inflation news is driving the Dow down - looking like it might break a thousand down, today.

 

[herb749]

That's because either - the White House doesn't understand the numbers - or they hope the public doesn't.

Inflation is measured year to year, for each month. Dear God, if it were month to month - we'd all be dead.

8.3% - from last year. This was in LIEU of "reducing inflation" AND 'lower' gas prices (as opposed to a few months earlier, even though they're stll chokingly high - it reminds me of a guy who bragged he only drank TWO CASES of beer a day, down from THREE).

If anyone has done some food shopping recently they know. Eggs are way up, so is milk. Now some of the food companies have acted like they are holding the line on prices until you realize the quanity is smaller.

 

[herb749]

BTW - the inflation news is driving the Dow down - looking like it might break a thousand down, today.

Karine will say they don't follow the market.

 

[stgislander]

That's because either - the White House doesn't understand the numbers - or they hope the public doesn't.

Inflation is measured year to year, for each month. Dear God, if it were month to month - we'd all be dead.

8.3% - from last year. This was in LIEU of "reducing inflation" AND 'lower' gas prices (as opposed to a few months earlier, even though they're stll chokingly high - it reminds me of a guy who bragged he only drank TWO CASES of beer a day, down from THREE).

So inflation rose 0.1% from July to August, but is up 8.3% from August 2021.

It is amazing that some of the reporting I hearing/reading isn't making that completely clear.

 

[HemiHauler]

BTW - the inflation news is driving the Dow down - looking like it might break a thousand down, today.

And when the FOMC tightens by 100bps *minimum*, the Dow will rally. We need minimum 100bps at the remaining two this year.

 

[HemiHauler]

So inflation rose 0.1% from July to August, but is up 8.3% from August 2021.

It is amazing that some of the reporting I hearing/reading isn't making that completely clear.

Lil' Kyle was among those last month when he posted. And when got called out out on it, he whined like a little baby. He doesn't understand much of any of this. He just copypastas what he's told to.

 

[Kyle]

Lil' Kyle was among those last month when he posted. And when got called out out on it, he whined like a little baby. He doesn't understand much of any of this. He just copypastas what he's told to.

Ewe so funny!

 

[Kyle]

Democrats Propose Another Inflation Reduction Act To Combat Inflation Created By First Inflation Reduction Act

Democrats Propose Another Inflation Reduction Act To Combat Inflation Created By First Inflation Reduction Act

WASHINGTON, D.C. — With inflation and consumer prices continuing to skyrocket, Democrats in Congress have proposed a brand new Inflation Reduction Act to combat the inflation brought about by the first Inflation Reduction Act.

babylonbee.com

 

[TPD]

If anyone has done some food shopping recently they know. Eggs are way up, so is milk. Now some of the food companies have acted like they are holding the line on prices until you realize the quanity is smaller.

How much longer before a dozen eggs = 10?

 

[Hijinx]

With winter coming on fuel oil prices haven't gone down.
Right now it is cheaper to go to the Diesel pump at the local filling station and come home and dump it in your fuel oil tank. The tax folks started dying the fuel oil so truckers couldn't find a cheaper way to drive, Pretty much a waste of time now.