Halls of Shrewd'm / US Policy
No. of Recommendations: 7
"U.S. inflation accelerated for a third-straight month in May amid a stalemate in negotiations to end the war with Iran, adding to the price pressures confronting consumers.
The Consumer Price Index report rose 4.2 percent in May from a year earlier, new data from the Bureau of Labor Statistics showed on Wednesday. That is up from a 2.4 percent annual increase before the conflict in the Middle East started in February and is the fastest pace since April 2023. Over the course of the month, overall prices jumped 0.5 percent.
Energy prices drove the bulk of the increase in May, rising 3.9 percent over the month. Once those were stripped out alongside food prices, the “core” index rose 2.9 percent on a year-over-year basis. Core prices rose 0.2 percent for the month, a 0.2 percentage point decrease from April’s monthly rate.
Energy costs have been spilling into categories where they make up a large chunk of the ultimate price tag, including food and airline fares, which rose 2.7 percent in May and are up 26.7 percent since this time last year." —New York Times
Come on now, who you gonna believe—the bloated oaf and his creepy treasury secretary meat puppet, or your lying eyes?
No. of Recommendations: 1
I wonder how high inflation would be if the price at the pump was included.
No. of Recommendations: 17
The way inflation is reported by the media always bugs me. They use a twelve month trailing average, which hides recent trends. The CPI rose monthly by 0.9%, 0.6%, and 0.5% over last three months. Over these months, since the war with Iran began, the annualized inflation rate has been 8.2%.
No. of Recommendations: 1
The way inflation is reported by the media always bugs me. They use a twelve month trailing average, which hides recent trends. The CPI rose monthly by 0.9%, 0.6%, and 0.5% over last three months. Over these months, since the war with Iran began, the annualized inflation rate has been 8.2%.
Good point. I approve of your math:
• 1.009 * 1.006 * 1.005 = 1.02 (a 2% increase over the past 3 months)
• 1.02 ^ 4 = 1.0824 (a 8.24% increase over 1 year)
