Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

  1. Gator Country Black Friday special!

    Now's a great time to join or renew and get $20 off your annual VIP subscription! LIMITED QUANTITIES -- for details click here.

Inflation rate hit 2.4% in September, topping expectations; jobless claims highest since August 2023

Discussion in 'Too Hot for Swamp Gas' started by okeechobee, Oct 10, 2024.

  1. Oct 10, 2024 #1
    okeechobee

    okeechobee GC Hall of Fame

    10,318
    1,349
    678
    Sep 11, 2022
    Key Points
    • The consumer price index increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%. Both were 0.1 percentage point higher than forecast.
    • Excluding food and energy, core prices rose 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast.
    • Initial filings for unemployment benefits took an unexpected turn higher, hitting as seasonally adjusted 258,000 for the week ending Oct. 5, the highest total since Aug. 5, 2023.
    Inflation rate hit 2.4% in September, topping expectations; jobless claims highest since August 2023

    ---------------

    I think it will be a long while before we see another cut in the Fed funds rate. The Fed knew the risk of inflation picking back up, but they went with a half-point cut because they sense trouble with employment lingering on the horizon. The jobless claims point to that end, but as I said then, they could have done a quarter point cut first to test the waters. They only did a half-point cut because they are worried about something.
     
    • Funny Funny x 1
  2. Oct 10, 2024 #2
    WarDamnGator

    WarDamnGator GC Hall of Fame

    10,808
    1,354
    1,718
    Apr 8, 2007
    LOL… this guy still doesn’t understand what he’s reading, Sept CPI was 2.5%.. now it’s 2.4%…. That’s lower…
     
    • Winner Winner x 3
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  3. Oct 10, 2024 #3
    AzCatFan

    AzCatFan GC Hall of Fame

    12,135
    1,151
    1,618
    Apr 9, 2007
    Fed cuts are usually .25%. A half point cut is larger than usual.

    As for the inflation report, 2.4% might be .1% higher than anticipated, but still represents a drop in inflation rate by .1%. In other words, the needle is still moving down, even with the rate cut.
     
    • Agree Agree x 1
    • Fistbump/Thanks! Fistbump/Thanks! x 1
    • Winner Winner x 1
  4. Oct 10, 2024 #4
    gatorchamps960608

    gatorchamps960608 GC Hall of Fame

    4,520
    942
    2,463
    Jul 4, 2020
    0.1 increase! Oh, no.

    Not even worth a one handed typing post.
     
  5. Oct 10, 2024 #5
    AzCatFan

    AzCatFan GC Hall of Fame

    12,135
    1,151
    1,618
    Apr 9, 2007
    It's actually a .1% decrease. But the expectations was a .2% decrease. The hurricanes aren't going to help. Home insurance and other insurance rates are going to increase.
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
    • Winner Winner x 1
  6. Oct 10, 2024 #6
    WarDamnGator

    WarDamnGator GC Hall of Fame

    10,808
    1,354
    1,718
    Apr 8, 2007
    “0.1 higher than forecasted” … inflation still declined, just not as much as expected forecasted.
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  7. Oct 10, 2024 #7
    dangolegators

    dangolegators GC Hall of Fame

    11,534
    777
    1,708
    Apr 26, 2007
    Good report. Inflation continues to drop. And the unemployment rate dropped last week too. Everything is going in the right direction.
     
    • Agree Agree x 2
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  8. Oct 10, 2024 #8
    NavyGator93

    NavyGator93 GC Hall of Fame

    1,960
    756
    2,663
    Dec 4, 2015
    Georgia
    Yeah, that's killing the maga crowd. They are actively routing against America.

    Weird.
     
    • Like Like x 1
    • Disagree Bacon! Disagree Bacon! x 1
  9. Oct 10, 2024 #9
    mdgator05

    mdgator05 Premium Member

    16,013
    2,067
    1,718
    Dec 9, 2010
    From the great mind that couldn't understand annualization, we get 2.4 > 2.5...
     
    • Winner Winner x 2