June [July] inflation

I know, tough hearing that from an independent. Let me know when you don't vote for the D Presidential candidate ever or the D Governor candidate. Because I've done that for 2 elections in a row for President and the last Gov election in Florida. Otherwise it sounds like you are making up crap again.

 

No, you are looking at something different. Go look again.

 

What should I be looking at?

 

I gave the examples in post #56. Increase from $951 a week to $1,107 a week. $624 a month or $7,488 a year, which is less than what prices have increased over the last 2 years, let alone 3 years.

 

$951 to $1107 is a 16% increase. Prices, per CPI, have increased by 12% over the last 2 years. So your statement is false.

But also, your own numbers show that real weekly earnings changed from $367 to $365 between Q1 2020 and Q2 2023. That's essentially no change and if you add in the real wage increase of .3% in July 2023, real wages are very slightly higher in July 2023 than they were in Q1 2020.

 

Oooof...

Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated.

That discussion during a two-day July meeting resulted in a quarter percentage point rate hike that markets generally expect to be the last one of this cycle.

However, discussions showed that most members worry that the inflation fight is far from over and could require additional tightening action from the rate-setting Federal Open Market Committee.

“With inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy,” the meeting summary stated.

https://www.cnbc.com/2023/08/16/fed-meeting-minutes-signal-coming-rate-moves.html

 

Count me as one who doesn't give a tinker's damn about inflation right now. It has been caused by price gauging, thus isn't organic, so if that's not the focus of any discussion, it's a moot one.

Mostly, though, there is an existential threat to our democracy, with zero hyperbole. And until that is exterminated completely, inflation is just a gnat at the window.

 

My statement isn't false. I'm quoting their data. I posted the other article showing prices actually rose $8,500 over the last 2 years. Go take it up with that known Dem Mark Zandi who is much more knowledgeable than you on the subject. So probably go read what he wrote again. Sorry to burst your Dems are awesome bubble.

 

Here is what your claim was:

Let's verify. What is the percentage increase in prices over the last 2 years? And what is the percentage increase in weekly earnings since Q1 2020?

 

I am correct in what I wrote. I discussed 2 years. You keep trying to throw 3 years in there like it's some awesome metric. Well, 3 years ago we were in the middle of covid. Taking any numbers from 2020 especially when a lot of the country was shut down isn't smart. But I think you know that.

 

Oh and the Fed agrees Inflation is still an issue.

https://www.cnbc.com/2023/08/16/fed-meeting-minutes-signal-coming-rate-moves.html

Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated.

That discussion during a two-day July meeting resulted in a quarter percentage point rate hike that markets generally expect to be the last one of this cycle.


However, discussions showed that most members worry that the inflation fight is far from over and could require additional tightening action from the rate-setting Federal Open Market Committee.

“With inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy,” the meeting summary stated.

 

Again here is what you wrote:

Let's go through this bit by bit. Your numbers show that weekly earnings increased from $951 in Q1 2020 to $1107 in Q2 2023. That is an increase of 16.4%. Then you claimed that it was less than the increase in prices over the last 2 years. Consulting the BLS CPI numbers shows that CPI was at 305.69 in July 2023 and 273.00 in July 2021. That is an increase of 12.0%. 16.4% is not less than 12.0%. We rule your statement false.

 

Nope. My numbers are right. Can't admit you were wrong. Haven't seen that before from you...

 

Ok, let's go through this slower. What is the percentage increase between 951 and 1107?

 

Oh, I guess that far right website CNN also thinks you are wrong. Ooops.

The cost of food is down, but grocery bills are still up. Here's why | CNN Business

Between January 2022 and January 2023, groceries got 11.3% more expensive. Many food companies are forecasting that they might slow down or pause price increases — but not lower them.

 

And yet he persists. It’s fruitless to engage Trumpaloons in discussions regarding the economy especially when it comes to metrics and KPI’s. They’ll post articles that don’t say what they think it’s says, and then when they are repeatedly shown the errors of their ways flood the zone with BS and completely disregard the facts. I usually give them one drive by dismantling of whatever they claim and move on. The wall is harder than my head.

 

LOL. I already showed my work. Now go read the data again and go over it slowly. Let me know when you come up with the exact numbers I did LOL.

 

LOL. Trumpaloon? Never voted for the clown. If you are in the camp that thinks things are great then you are just as ignorant as the other poster. Shocking...

 

Could you point me to the post where you showed the percentage increase from 951 to 1107?

 

I posted the difference. Then the total for a year, which is less than the $8,500 increase over the last 2 years. At least try to keep up. I know this is hard for you, but if you can't understand it'd be best if you just read a bit and posted less.