Inflation

[George K]

[George K]

Someone needs to DO something about this!

[LuFins Dad]

So we’re a year in to this with no sign of relief.

https://www.cnn.com/2022/10/13/business/fed-interest-rates-inflation-nightcap/index.html

Last year our September numbers showed a 5% -6% increase, this year it’s 8%-9%. So over 2 years it’s what? 15%-17% now that inflation is stacking on top of inflation?

[Mik]

It's transitory, they said.

Of course, transitory only means it won't stay where it was then. So it got worse.

[LuFins Dad]

@LuFins-Dad said in Inflation:

Remember the Farm Bureau’s .14 cent 4th of July?

They’re back…

https://www.fb.org/newsroom/farm-bureau-survey-shows-thanksgiving-dinner-cost-up-14

Can’t wait to see this year’s number.

[taiwan_girl]

How is the inflation measured?

When they say that Sept was 8.2%, are they taking the month by month increase (or decrease) from the last 12 months and adding it together? So, a "rolling" 12 month average?

Or is it calculated differently?

[LuFins Dad]

@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.

[taiwan_girl]

@LuFins-Dad Thanks!!!

[George K]

@LuFins-Dad said in Inflation:

@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.

Unless you're POTUS, or the Speaker of the House, in which case you look at the July index and compare it to the June index and, because it's 8.2% in both, you say "Inflation is zero."

Biden, Aug. 10: Before I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero. Today, we received news that our economy had 0% inflation in the month of July. Zero percent.

Pelosi said at an Aug. 12 press conference: “As you see, inflation was zero for the past month, zero increase.”

[Doctor Phibes]

@George-K said in Inflation:

@LuFins-Dad said in Inflation:

@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.

Unless you're POTUS, or the Speaker of the House, in which case you look at the July index and compare it to the June index and, because it's 8.2% in both, you say "Inflation is zero."

Biden, Aug. 10: Before I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero. Today, we received news that our economy had 0% inflation in the month of July. Zero percent.

Pelosi said at an Aug. 12 press conference: “As you see, inflation was zero for the past month, zero increase.”

That would be hilarious if it wasn't so sad.

[LuFins Dad]

@George-K said in Inflation:

@LuFins-Dad said in Inflation:

@taiwan_girl they take the index for last September and compare it for this September and calculate the percentage increase/decrease.

Unless you're POTUS, or the Speaker of the House, in which case you look at the July index and compare it to the June index and, because it's 8.2% in both, you say "Inflation is zero."

Biden, Aug. 10: Before I begin today, I want to say a word about the news that came out today relative to the economy. Actually, I just want to say a number: zero. Today, we received news that our economy had 0% inflation in the month of July. Zero percent.

Pelosi said at an Aug. 12 press conference: “As you see, inflation was zero for the past month, zero increase.”

July of 2021 had a lower CPI than September of 2021. Finding the actual CPI numbers goes beyond my simple Googlefu but I know that 8.2% increase ~5.5% is greater than 8.2% over 4.2%…

[Doctor Phibes]

Biden and Pelosi seem to be unaware of the difference between an increase and an increase in rate of change.

[Horace]

@Doctor-Phibes said in Inflation:

Biden and Pelosi seem to be unaware of the difference between an increase and an increase in rate of change.

I suspect they are dumbing down the messaging so that people with circa 5th percentile critical thing skills will buy this story that makes their party look competent.

[jon-nyc]

It occurred to me that Herschel Walker's $700 check to his mistress for an abortion could actually help Republicans because it reminds Americans how much the price of an abortion has gone up.

[Axtremus]

https://www.cbsnews.com/news/irs-401k-contribution-limit-increasing-by-record/

"The IRS on Friday said it is boosting the 2023 contribution limits for 401(k)s by a record $2,000 due to the high pace of inflation, which will allow workers to sock away more money in 2023.

Individuals will be able to save up to $22,500 in their 401(k)s next year, an increase of 9.8% from the current year's limit of $20,500, the agency said in a statement. The new limit also applies to other types of defined contribution plans, including 403(b), most 457 plans and the federal government's Thrift Savings Plan."
...

[Doctor Phibes]

@jon-nyc said in Inflation:

It occurred to me that Herschel Walker's $700 check to his mistress for an abortion could actually help Republicans because it reminds Americans how much the price of an abortion has gone up.

The gas to drive your girlfriend out of State is going to cost more than that at the rate we're going.

[Jolly]

If you asked the average guy on the street if inflation was more or less than 8%, I suspect the answer would be more than 8%.

[taiwan_girl]

@Jolly said in Inflation:

If you asked the average guy on the street if inflation was more or less than 8%, I suspect the answer would be more than 8%.

I agree. I think a lot of people would respond that it is 20% or even more.

Thailand inflation is quite high. The thing that is saving US expats is the USD vs, Thai baht is doing well, so the inflation is not noticed as much?

[Axtremus]

https://www.cnn.com/2022/10/27/business/mcdonalds-prices/index.html

McDonald’s third quarter prices were up around 10% year over year on average.

[Jolly]

Well, bud, I did some grocery shopping today. Everything's higher.

Some items have almost doubled in the last year.