So he wants to discount the flat number for July because most of the flatness was caused by a decrease in energy prices but he wants to hold Biden responsible for the increase in energy prices. lol Some people are so partisan they can’t even see it. Either that or they are just trolls trying to get people riled up.
It might be a little premature to say definitively that inflation has peaked. I think it has, the decrease in the ppi today is another good indicator but again I am hopeful not breaking out the champagne just yet.
Agreed, but I am cautiously optimistic. Many of the components and predictors of inflation are showing hints that we've peaked and things are headed in a good direction. Stuff can still happen, but the future is looking good.
This whole argument is silly. You guys all know what the other is saying. Yes there was 0 inflation in July, (thats a good thing comparatively) but the country is still under high inflation overall. (Not a good thing) You're both right and both wrong.
Whether or not inflation has peaked is not important. What is important is how long it will stay at elevated levels.
It's BS propaganda. The difference from June to July was zero and the big reason why as you stated is energy. We are still experiencing 8.5% inflation compared to a year ago. Both sides do this crap and it's disgusting.
The problem is the American people don't live in the bubble of his right. It's a propaganda point and a misrepresentation of the facts.
Inflation without the Biden Administration screwing with oil by selling down the US SPR will remain high until the feds raise rates enough to tame it. Unfortunately, with another 2 fiscal laws being passed with over $1 trillion in new government spending, the fed's job got tougher and will result in higher rates and higher inflation longer than needed to be. If August and September come in with the CPI and Core matching July, all the Biden Administration will have accomplished is to temporarily lower gasoline and to pi$$ seniors off with lower COLAs and savers off with a lower I bond rate on November 1.
This has been an unfortunate trend over the past 2 months. The 4-week average is starting to show an uptick in new jobless claims.
The point is that improvement will be seen in the monthly numbers long before it shows up in the yearly numbers. ET is denying this simple fact by claiming there was no improvement from June to July.
You call 0% an improvement with YoY 8.5% inflation? An improvement would be deflation. Im just worried that once Biden stops flooding the markets with our oil reserve, will gas prices go back up?
Deflation is not good. It leads to all sorts of incentive issues that cause really big problems. There is a reason that the Fed targets a small but consistent amount of inflation. And yes, 0% is an improvement to 1.3% monthly inflation.
While accurate the annualized rate for the previous 12 months is a lagging indicator. It's necessarily indicative of future inflation. Besides energy, the following could also be an indicator that the rate of inflation has peaked. Two of the largest retailers in the US have excess inventories which means likely discounting. Walmart was riding a pandemic high for nearly two years. Then it laid off hundreds — here are 3 issues that have plagued the company.
Semantics. If Florida is down 12 at halftime and still down 12 at the end of the 3rd qtr, the deficit did not improve. You can say they played even in the 3rd qtr, (an improvement of the 1st half perhaps) but overall the "bad" is still the same. Now is that a trend that leads to a 4th qtr come from behind win? Maybe, but at the moment it hasnt changed.
The gasoline price index at -7.7 in undeniable for all of the reasons previously stated. How is that? If improvement means breaking the string on monthly increases after 4 months of selling down the US SPR, I agree with you, there is temporary improvement. Tell me, what do you think is going to happen to the gasoline price index after Joe Biden's executive order expires at the end of September? What do you think is going to happen in 2023 when oil and gas corporations are hit with a 15% minimum tax and much higher royalties paid to produce oil and gas? From post 1, I said there was improvement in the CPIU reduction from 9.1% to 8.5% along with my assessment as to why it went down, temporary improvement. I followed that up with showing no change from June to July in core inflation at 5.9%. I don't know how much clearer and fairer I could have been other than to lie and say I buy the garbage explanations spewed by Lyin' Biden and the Biden Administration.
Except it did change. The annual inflation went from 9.1% to 8.5%. That is a very substantial change in that metric. And your metaphor is not a good one because we don't want deflation, just less inflation.
More like, if Florida's defense was giving up 35 ponts a game all year, then shut out the dawgs, we'd all agree it was a outstanding improvement, right?
