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Started By
Message
Inflation in March came in hotter than expected
Posted on 4/10/24 at 9:49 pm
Posted on 4/10/24 at 9:49 pm
quote:
The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon.
The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage point higher than in February, the Labor Department's Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for a 0.3% gain and a 3.4% year-over-year level.
Excluding volatile food and energy components, the core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%.
quote:
Shelter and energy costs drove the increase on the all-items index.
Energy rose 1.1% after climbing 2.3% in February, while shelter costs, which make up about one-third of the weighting in the CPI, were higher by 0.4% on the month and up 5.7% from a year ago. Expectations for shelter-related costs to decelerate through the year have been central to the Fed's thesis that inflation will cool enough to allow for interest rate cuts.
Food prices increased just 0.1% on the month and were up 2.2% on a year-over-year basis. There were some big gains within the food category, however.
The measure for meat, fish, poultry and eggs climbed 0.9%, pushed by a 4.6% jump in egg prices. Butter fell 5% and cereal and bakery products declined by 0.9%. Food away from home increased 0.3%.
Elsewhere, used vehicle prices fell 1.1% and medical care services prices rose 0.6%.
LINK
Posted on 4/10/24 at 9:51 pm to RLDSC FAN
What dumbfrick wasn't expecting it?
Posted on 4/10/24 at 9:52 pm to Landmass
Every path leads to we're fricked with our debt.
Posted on 4/10/24 at 9:54 pm to RLDSC FAN
I don’t believe anything the government says. What are the real numbers?
Posted on 4/10/24 at 9:56 pm to tigergirl10
quote:
What are the real numbers?
All I know is that I'm paying about 80% more for groceries than I was 4 years ago.
Posted on 4/10/24 at 9:56 pm to tigergirl10
quote:
I don’t believe anything the government says. What are the real numbers?
worse
Posted on 4/10/24 at 9:56 pm to RLDSC FAN
Meh, we will just print some more money to cover the higher costs.
Posted on 4/10/24 at 9:56 pm to RLDSC FAN
quote:
The measure for meat, fish, poultry and eggs climbed 0.9%, pushed by a 4.6% jump in egg prices. Butter fell 5% and cereal and bakery products declined by 0.9%. Food away from home increased 0.3%
This is all bullshite
Posted on 4/10/24 at 10:07 pm to fallguy_1978
quote:
fricked with our debt
Correction, spending.
Posted on 4/10/24 at 10:10 pm to RLDSC FAN
3.8% higher than a year ago. And it was way more than 3.8% the year before that.
FJB and frick any of you with the mental illness which causes you to vote for Brandon.
FJB and frick any of you with the mental illness which causes you to vote for Brandon.
Posted on 4/10/24 at 10:15 pm to Northshoretiger87
quote:
mental illness
Being female is the vast majority of that. But y'all also voted for JBE.
Posted on 4/10/24 at 10:16 pm to RLDSC FAN
More money to Ukraine will solve our inflation issues.
Posted on 4/10/24 at 10:42 pm to RLDSC FAN
I just don’t understand what could be creating demand at this point. Especially for housing with prices and rates where they are.
Posted on 4/10/24 at 10:45 pm to Landmass
quote:
What dumbfrick wasn't expecting it?
Biden supporters….
Posted on 4/10/24 at 10:51 pm to Northshoretiger87
quote:
3.8% higher than a year ago. And it was way more than 3.8% the year before that.
Posted on 4/10/24 at 11:07 pm to RLDSC FAN
Prices are still up, and in the real world wage’s aren’t going up. Even if wage’s went up a nut hair, those wage’s aren’t covering the prices in April 2024. Now's the time for the moderate's to tell me I’m wrong and everything is A OK.
Posted on 4/10/24 at 11:15 pm to Northshoretiger87
No more mean tweets
Posted on 4/10/24 at 11:31 pm to tigergirl10
quote:
I don’t believe anything the government says. What are the real numbers?
If they were lying to you they would have told a lie that made them look good.
Posted on 4/11/24 at 9:51 am to Penrod
quote:
Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Fed officials say it is useful in the current climate as they see elevated housing inflation as a temporary problem and not as good a measure of underlying prices.
Supercore accelerated to a 4.8% pace year over year in March, the highest in 11 months.
Tom Fitzpatrick, managing director of global market insights at R.J. O’Brien & Associates, said if you take the readings of the last three months and annualize them, you’re looking at a supercore inflation rate of more than 8%, far from the Federal Reserve’s 2% goal.
“As we sit here today, I think they’re probably pulling their hair out,” Fitzpatrick said.
LINK
Posted on 4/11/24 at 9:57 am to Gee Grenouille
quote:
I just don’t understand what could be creating demand at this point. Especially for housing with prices and rates where they are.
Large investment groups like Blackrock buying up single family homes.
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