Biden claims a zero inflation when it is 8.5%
- Thread starter hislegacy
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I think the idea is to consider the current economy and cost of living normal and a good place to be at. Gas is somewhat less than $5 per gallon, hooray happy days are here again.
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- Mar 17, 2015
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I expect prices to decline some. Just my guess from how things are going, like the new grain exports from Ukraine, oil price moderation, etc.
We'll see. If August also shows level or even down a bit from July, then the 12 month will tick down more. Hard to guess though because economy adding jobs lately.
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- Jul 21, 2015
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From July 1 to July 31 and was zero inflation due to falling energy prices, used car prices, airline tickets etc. This number was much higher the month before and is not a 12 month average.
https://www.bls.gov/news.release/pdf/cpi.pdf
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The Barbarian
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Biden said inflation was zero in July. It was.
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally
adjusted basis
Consumer Price Index Summary - 2022 M07 Results
Apparently, republicans panicked and tried to cover up the zero inflation in July, by pretending it was the average inflation for the year to date. (which also declined markedly from 9.1 in June)
Current US Inflation Rates: 2000-2022 | US Inflation Calculator
But a zero inflation rate in July isn't the big news. Even more disturbing to republicans, watching the economy recovering from the pandemic:
Why the U.S. stock rally looks more like a new bull market than a bear bounce to these analysts
Broader is better when it comes to the stock market rally and some analysts see technical signs that gains may be signaling the end of the 2022 bear market, though it’s too early to say for sure.
“The risk that the recent advance is merely a bear market rally has not been eliminated. But…the technical improvement up to this point is more akin to a new cyclical bull market than a bear market rally,” said Ed Clissold and Thanh Nguyen of Ned Davis Research, in a Tuesday note.
Technical analysts pay close attention to various measures of market breadth — or how many stocks are participating in a move up or down.
Clissold and Nguyen noted that the rally that followed Federal Reserve Chair Jerome Powell’s July 27 news conference produced a pair of rare “breadth thrust” signals: first, the percentage of stocks hitting 20-day new highs rose above 55% for the first time since June 2020; second, the ratio of 10-day advances to 10-day declines rose to 1.9 for the first time since 2021. The moves came after a 10:1 up day for S&P 500 stocks earlier in July.
Why the U.S. stock rally looks more like a new bull market than a bear bounce to these analysts
If the good economic news continues, this could seriously endanger their hopes to regain the House and Senate.
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally
adjusted basis
Consumer Price Index Summary - 2022 M07 Results
Apparently, republicans panicked and tried to cover up the zero inflation in July, by pretending it was the average inflation for the year to date. (which also declined markedly from 9.1 in June)
Current US Inflation Rates: 2000-2022 | US Inflation Calculator
But a zero inflation rate in July isn't the big news. Even more disturbing to republicans, watching the economy recovering from the pandemic:
Why the U.S. stock rally looks more like a new bull market than a bear bounce to these analysts
Broader is better when it comes to the stock market rally and some analysts see technical signs that gains may be signaling the end of the 2022 bear market, though it’s too early to say for sure.
“The risk that the recent advance is merely a bear market rally has not been eliminated. But…the technical improvement up to this point is more akin to a new cyclical bull market than a bear market rally,” said Ed Clissold and Thanh Nguyen of Ned Davis Research, in a Tuesday note.
Technical analysts pay close attention to various measures of market breadth — or how many stocks are participating in a move up or down.
Clissold and Nguyen noted that the rally that followed Federal Reserve Chair Jerome Powell’s July 27 news conference produced a pair of rare “breadth thrust” signals: first, the percentage of stocks hitting 20-day new highs rose above 55% for the first time since June 2020; second, the ratio of 10-day advances to 10-day declines rose to 1.9 for the first time since 2021. The moves came after a 10:1 up day for S&P 500 stocks earlier in July.
Why the U.S. stock rally looks more like a new bull market than a bear bounce to these analysts
If the good economic news continues, this could seriously endanger their hopes to regain the House and Senate.
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The Barbarian
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Yes. It seems unlikely, given the good employment news, that inflation would go to zero for a second month. But the factors you mention mean that it's possible.
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The Barbarian
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Is anyone here getting gas for $3.90? I know I'm not. More like $4.50. But my point is, the idea is $3.90 is supposed to be viewed as a steal now.
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I think it depends on population. Gas is a less expensive where I live, as opposed to 30 miles south where I work in a large city. And I imagine if I dive 20 miles north of where I live to a small town in a less populated county, it will be less there than at home.
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The Barbarian
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That price is for regular, and it is an average countrywide. I pay less than that, but I live in Texas, which seems to be generally lower.
State gas prices fell for the eighth consecutive week and reached an average of $3.50 per gallon of regular fuel on Monday, according to the U.S. Energy Information Administration.
Gas prices in Texas: Where are they now vs. a year ago?
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The Barbarian
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More good news...
World Food Prices Post Biggest Decline Since 2008 in July
World Food Prices Post Biggest Decline Since 2008 in July
I'm guessing someone will point out now, that presidents don't really control prices. Which is true. It's just fun to see all the right people pivot.
World Food Prices Post Biggest Decline Since 2008 in July
World Food Prices Post Biggest Decline Since 2008 in July
I'm guessing someone will point out now, that presidents don't really control prices. Which is true. It's just fun to see all the right people pivot.
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Hi friend. The United States each month gives 1 report with many inflation numbers in that report, every month. Including not only the 12 month overall number you pointed out, but also the 1 month number. (which Biden quoted too)
That's the only report. (there isn't another)
So:
"The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.
"The gasoline index fell 7.7 percent in July and offset increases in the food and shelter indexes, resulting in the all items index being unchanged over the month.
Consumer Price Index Summary - 2022 M07 Results
The main numbers most commonly quoted in news headlines and quick summaries from all media across the spectrum are 2 numbers: the 12 month and the 1 month. Both. (if your news source didn't tell you the 1 month number, it's less informative than most sources available)
So....I hope you will take the opportunity to edit your post #14 so it isn't false anymore.
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The Barbarian
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Ah, this?
That's a testable assumption. The Bureau of Labor Statistics does the official inflation figures, and they say...
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally
adjusted basis
Consumer Price Index Summary - 2022 M07 Results
You've been misled, as you now see. (Edit: I see someone beat me to it. Well done.)
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- Mar 17, 2015
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It's not a good story to stick with. When we slander someone, or even just judge harshly with prejudice even (Matthew 7:1-2), that is held against us on the Day of Judgement, by the Lord Himself, unless we repent.
1 Corinthians 6:10 nor thieves nor the greedy nor drunkards nor slanderers nor swindlers will inherit the kingdom of God..
The last thing you'd want to do is risk going into the 'second death' just to repeat political talking points from unbeliever commentators.
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https://www.cnbc.com/2022/08/10/con...pected-as-inflation-pressures-ease-a-bit.html
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.
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