Core inflation is unchanged. Economists look to a sub-category of inflation that excludes food and fuel prices, known as core inflation, as a better guide to future inflation than the 8.5% headline number. Core inflation was up 5.9 percent in July compared with 12 months earlier, even with the 5.9 percent recorded in June.
Considering inflation never exceeded 2.8% under Trump, it's the first step that has to be accomplished come November. In the meantime, while knowing they are going to get their asses handed to them in the house along with a 50:50 possibility of losing the senate, the democratic socialist communist party will attempt to inflict as much pain on the American people as possible.
Bling tried to explain it you above. You are the one confused. If you like, I could try explain it you like a "Johnny has 10 apples" type child-like word problems. Nah, you probably still wouldn't get it...
I have my son and his girlfriend living with me rent free while going to school. I am thinking I may have to sell him my house no money down for him ever to be able to afford home ownership.
How is year over year core inflation being less than the headline number a bad thing? No month to month change since June is exactly what it sounds like ...
Well, there is this little thing that inflation on a core basis is running even with the highest inflation recorded in 41 years. Other than that, no problem. The gasoline index is down -7.7% in the 8.5% number. Without the Biden Administration selling down the US strategic petroleum reserve which ends at the end of September, the CPI would still be running at 9% instead of 8.5%. The administration has made no energy policy changes to stop inflation from going back up when Joe Biden's executive order ends at the end of September. Want to guess what the federal reserve is going to do with interest rates? I say a continued march upward as the federal reserve does know how to read a report and understands how the CPI went down .6 in July while the core inflation rate remained unchanged. If the core rate stays high in August like June and July, I predict another .75 rate increase on September 21. I also predict that the Biden Administration will crow about 8.5% while not wanting to answer questions about why there is a -7.7% reduction in the gasoline index.
Table 1. Consumer Price Index for All Urban Consumers (CPI-U): U. S. city average, by expenditure category - 2022 M07 Results The unadjusted index basically didn’t change from June to July - there was no net inflation in July.
My comment was the monthly numbers are great and it will take time for the year over year numbers to come down... you've done nothing to refute that. But don't take my word for it, just look at the stock market. Those are people who put their money where there mouth is, and they love it. They see this report as positive enough that the maybe the fed will stop raising rates and trying to induce a recession...
You are absolutely clueless. If the numbers don't change from june to july, that shows a 0.00% increase MONTH OVER MONTH. But how the hell is that going to make a YEAR OVER YEAR number 0.00%? Another report you don't know how to read...
The Month over Month number is 0%. The YOY number is what is 8.5%, which is .2% lower than estimated. Core inflation did rise .3%, but that was also lower than expected. On a monthly basis, the price index did not move at all in July. That’s because fuel prices, airfares and used cars declined in price, offsetting increases in rent and food costs. Core inflation was also slower than economists had expected on a monthly basis, climbing by 0.3 percent. In June, that figure was 0.7 percent.
