The torrid pace of inflation slowed in July for the first time in months, but prices remained near the highest level in 40 years. The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.5% in July from a year ago, below the 9.1% year-over-year surge recorded in June. Prices were unchanged in the one-month period from June.
So-called core prices, which strip out the more volatile measurements of food and energy, climbed 5.9% from the previous year, below the 6.1% forecast from economists but matching the reading from July. Core prices also rose less than expected, rising 0.3% on a monthly basis – a smaller increase than in April, May and June, an encouraging sign that inflation is starting to loosen its stranglehold on the economy.
Inflation has always been measured as a comparison to last year. In July, this inflation comparison was a crushing 8.5% over July of 2021. Apparently some people who flunked Economics are arguing that there was no inflation for July because the month to month comparison was fairly flat.
So now that we have redefined everything from a recession to a raid... I guess liberals would like to redefine inflation how too?
The truth is that we are still paying more for everything than we were a year ago. Unless you got a 8.5% raise recently, you are now earning less money in real dollars than you were a year ago. That is the bottom line. No "redefining" of the word inflation will change that.
22 comments:
Roger assured Us Bidenomics inflation is both "transitory " and now is : "
"Zero inflation in July" Roger
Inflation 8.5 percent in July.
Never expect Roger to ever get anything right on economic issues.
Axios reports:
Inflation Dropped to Zero In July
"Consumer prices were unchanged in July, as plunging prices for gasoline dragged the Consumer Price Index down to zero.
“Core inflation, which excludes energy and food, rose only 0.3%, below what analysts expected.”
________
Gas and food prices keep getting lower and Biden's approval bounces back
politicalwire.com
President Trump in 4 years total inflation , 7.5 %
Bidenomics 9.1 %.
Reverend...
On the previous thread you stated that you care very little about looking smart.
Now I posted the article showing that Inflation was up 8.5% (over Fiscal 2021). I also explained that inflation is measured over a year to year period (not a month to month)
Inflation as defined by the same way it has ALWAYS been defined was up 8.5%
If you go to the labor department and check the number, it say 8.5% not zero.
You turn around and post a Politicalwire.com article about how inflation was flat?
And you wonder why I might see you as stupid and overly trusting (blindly trusting as it were) of pretty much anything Goddard will post on his blog. The left is trying to "redefine" how we measure inflation... and the sad part about it Reverend..
is that it continues to work... at least with their core group of true believers.
The report was good news for workers, who saw a 0.5% monthly increase in real wages.
Inflation climbed 8.5% in July, lower than expectations
Prices that consumers pay for a variety of goods and services rose 8.5% in July from a year ago, a slowing pace from the previous month due largely to a drop in gasoline prices.
On a monthly basis, prices were flat as energy prices broadly declined 4.6% and gasoline fell 7.7%. That offset a 1.1% monthly gain in food prices and a 0.5% increase in shelter costs.
Does anyone but our host think trump prevailed this week with a house search pleading the fifth because he is a criminal and losing steam with voters??///. Just asking to test the honesty of the right since the lily livered GOP leadership just plods along hoping it will go away!!!!!!! BTW......Scotty....all the inflation number of today showed was a single month of moderation......more must follow before I say we are out of the woods....Wall Street sure was encouraged, why aren't you or are you wishing for failure in spite of some good news////. As old wise Chinese man said....longest journey begins with the first step.....just like trump going to jail!!!!!! LOLOLLOLOL
Fascist extremists on pro-Donald Trump message boards and social networks are making violent, antisemitic threats against the judge who reportedly signed the warrant that allowed the FBI to search the former president’s Mar-a-Lago property in Florida,” Vice News reports.
“Multiple members of these toxic online communities are even posting what appears to be Judge Bruce Reinhart’s home address, phone numbers, and names of his family members alongside threats of extreme violence.”
Hi core group of true believers will start a civil war, if he is charged.
Yes Roger...
as your 257th C&P today stated:
8.5% inflation.
Thanks for agreeing and not demanding that the number is zero.
Hey Roger...
As Merrick Garland has shown.
Hassling Judgees at their home address is both technically illegal but perfectly acceptable by the standards of Garland. There are still protesters with bullhorns and such in the neighborhoods of our Supreme Court Justices. As we recall, someone tried to kill Kavanaugh.
So if this guy has to put up with a little bit of hassling from the public. I guess it is all fair game, right?
Because that is the precedent set by our current AG, DOJ, etc. That sort of thing is perfectly fine! Please don't complain now that the shoe is on the other foot.
Let's review.
Inflation rising, the Socialist Democrats here blamed every thing and everyone but Biden.
Inflation declines a tiny bit and those same Socialist Democrats credit Biden.
When will the persecution of Trump stop?
The Democrats are afraid of the rise of Trump. They are in the endless pursuit to legally stop Trump from running for the nation's highest office in 2024. Having failed in their efforts to impeach him, they constituted the J6 select committee probe. And now, they have launched legal actions in multiple theaters, one in New York, the second in Georgia, and the third in D.C., hoping something would stick.
The nation's law enforcement agencies under the Biden administration have set a remarkable course that, if not corrected, will undoubtedly lead to the country becoming a banana republic. Americans were stunned by the FBI's treatment of Peter Navarro, who served as a top presidential advisor to Trump. The raid on Mar-A-Lago outdoes shackling Navarro with leg irons. It is no wonder Americans lack confidence in the DOJ and the FBI.
NPR In a " random act of Journalism ".
"The price to grow food is soaring with inflation"
This is just the beginning of the food inflation for this Fall and winter.
Hey Denny...
The trump deposition that he refused to answer any questions for... is a civil action. As you are implying that he is being charged criminally.
Thought I might point out that little bit of reality. I know that might be confusing for you.
Consumer prices were unchanged in July, as plunging prices for gasoline dragged the Consumer Price Index down to zero.
“Core inflation, which excludes energy and food, rose only 0.3%, below what analysts expected.”
___________
I am not too stupid to know that this is better news than previous months.
Seems to me that Scott truly thinks trump is omnipotent and that its only civil........BWAAAAAAAAAAAA!!!!
gal experts said the former president’s decision could create an impression among some — including a potential jury — that he has something to hide.
“What it’s saying is that he’s afraid if he testifies, what he says will be used against him in some criminal proceeding,” said Vincent M. Bonventre, a professor and director of the Center for Judicial Process in New York at Albany Law School.
And James could theoretically seize on that perception.
“Now [James] can claim that, well, he pleads the Fifth, then he's worried about potentially having some criminal liability and therefore her investigation is meritorious and she can proceed with bringing claims against him and proceed to trial,” said Joshua Schiller, a partner at Boies Schiller Flexner LLP who has fought cases with the attorney general. “On the other hand, I imagine that [Trump] is going to say, ‘Well, I'm not going to answer any questions, because this is a kangaroo court, and no one would listen to me anyway.”
That’s exactly what Trump suggested in his Wednesday statement, while connecting James’ investigation with federal agents searching his Mar-a-Lago estate earlier this week.
Actually Denny...
No judge would allow someone taking the fifth to be a "reason" to charge them. It is their constitutional right to not answer questions.
The SDNY must come up with their proof without Trump's input.
Sorry Pal... but that is how the law works!
Seems to me that if they already had proof enough to press criminal charges then they would not have desperately needed Trump to come testify. Wonder why it was such a big deal to get him to testify? All those lawsuits back and forth and then finally... after winning the right to question him.
He just pleads the fifth and they are SOL.
I am not too stupid to know that this is better news than previous months..
it is an 8.5% increase over last year... We are at the highest rate of inflation in decades.
I guess if that is an improvement from previous months then things are really really in the shitter, huh?
Either way... the idea that inflation was "flat" in July was gaslighting. You might realize that now, but originally you were quick to fall for it.
Oh and Denny...
keep in mind that the main DA in the SDNY already said no to charging Trump previously prompting the two prosecutors involved to resign in protest. I heard the stomped their feet and held their breath till they turned blue too!
It was quite an ordeal!
I guess if that is an improvement from previous months
LOLOL. Great observation as the fist step is always need in the long journey back......sorry sport your bias is duly noted!!!!!!
Blogger Honest, decent, truthful Rev. said...
Axios reports:
Inflation Dropped to Zero In July
"Consumer prices were unchanged in July, as plunging prices for gasoline dragged the Consumer Price Index down to zero.
Wow, just freaking wow
You never miss an opportunity to show what an absolute imbecile is
Roger has told us inflation is "zero" for July and is "8.5 %" in July.
Being this stupid is breathtaking.
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