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The New Coffee Room

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  3. Inflation

Inflation

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  • LuFins DadL Offline
    LuFins DadL Offline
    LuFins Dad
    wrote on last edited by
    #156

    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?

    The Brad

    1 Reply Last reply
    • MikM Offline
      MikM Offline
      Mik
      wrote on last edited by
      #157

      It's transitory, they said.

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

      “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

      1 Reply Last reply
      • LuFins DadL LuFins Dad

        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

        LuFins DadL Offline
        LuFins DadL Offline
        LuFins Dad
        wrote on last edited by
        #158

        @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.

        The Brad

        George KG 1 Reply Last reply
        • taiwan_girlT Offline
          taiwan_girlT Offline
          taiwan_girl
          wrote on last edited by
          #159

          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 DadL 1 Reply Last reply
          • taiwan_girlT 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 DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote on last edited by
            #160

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

            The Brad

            taiwan_girlT George KG 2 Replies Last reply
            • LuFins DadL LuFins Dad

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

              taiwan_girlT Offline
              taiwan_girlT Offline
              taiwan_girl
              wrote on last edited by
              #161

              @LuFins-Dad Thanks!!!

              1 Reply Last reply
              • LuFins DadL LuFins Dad

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

                George KG Offline
                George KG Offline
                George K
                wrote on last edited by
                #162

                @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.”

                "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                Doctor PhibesD LuFins DadL 2 Replies Last reply
                • George KG 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 PhibesD Offline
                  Doctor PhibesD Offline
                  Doctor Phibes
                  wrote on last edited by
                  #163

                  @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.

                  I was only joking

                  1 Reply Last reply
                  • George KG 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.”

                    LuFins DadL Offline
                    LuFins DadL Offline
                    LuFins Dad
                    wrote on last edited by
                    #164

                    @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%…

                    The Brad

                    Doctor PhibesD 1 Reply Last reply
                    • LuFins DadL 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 PhibesD Offline
                      Doctor PhibesD Offline
                      Doctor Phibes
                      wrote on last edited by
                      #165

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

                      I was only joking

                      HoraceH 1 Reply Last reply
                      • Doctor PhibesD Doctor Phibes

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

                        HoraceH Online
                        HoraceH Online
                        Horace
                        wrote on last edited by
                        #166

                        @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.

                        Education is extremely important.

                        1 Reply Last reply
                        • jon-nycJ Offline
                          jon-nycJ Offline
                          jon-nyc
                          wrote on last edited by
                          #167

                          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.

                          Only non-witches get due process.

                          • Cotton Mather, Salem Massachusetts, 1692
                          Doctor PhibesD 1 Reply Last reply
                          • AxtremusA Offline
                            AxtremusA Offline
                            Axtremus
                            wrote on last edited by
                            #168

                            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."
                            ...

                            1 Reply Last reply
                            • jon-nycJ 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.

                              Doctor PhibesD Offline
                              Doctor PhibesD Offline
                              Doctor Phibes
                              wrote on last edited by
                              #169

                              @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.

                              I was only joking

                              1 Reply Last reply
                              • JollyJ Offline
                                JollyJ Offline
                                Jolly
                                wrote on last edited by
                                #170

                                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%.

                                “Cry havoc and let slip the DOGE of war!”

                                Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                taiwan_girlT 1 Reply Last reply
                                • JollyJ 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_girlT Offline
                                  taiwan_girlT Offline
                                  taiwan_girl
                                  wrote on last edited by
                                  #171

                                  @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?

                                  1 Reply Last reply
                                  • AxtremusA Offline
                                    AxtremusA Offline
                                    Axtremus
                                    wrote on last edited by
                                    #172

                                    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.

                                    1 Reply Last reply
                                    • JollyJ Offline
                                      JollyJ Offline
                                      Jolly
                                      wrote on last edited by
                                      #173

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

                                      Some items have almost doubled in the last year.

                                      “Cry havoc and let slip the DOGE of war!”

                                      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                      1 Reply Last reply
                                      • 89th8 Offline
                                        89th8 Offline
                                        89th
                                        wrote on last edited by
                                        #174

                                        Yup, very much noticeable at the grocery store.

                                        It's also a shame how prices have gone up for everything else, even if they aren't impacted by supply chain or other reasons. It's a game of "I can charge more because my neighbor is charging more". It's part of the free market game... we enjoyed over a decade of low rates, low inflation, strong growth, and now the pendulum is swinging back.

                                        @Axtremus A McD's meal basically costs $10 at this point. For a family of four, it's cheaper now to order take-out from Applebees, or a Chinese restaurant.

                                        LuFins DadL 1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #175

                                          Eurozone Inflation Rate Rises to 10.7% as Recession Looms

                                          The annual rate of consumer-price inflation in the eurozone increased to double digits in October, reaching a record and highlighting the challenges facing the European Central Bank after it signaled a coming slowdown in the pace of its rate increases.

                                          The broad measure of consumer prices has risen sharply since Russia’s invasion of Ukraine and Moscow’s decision to throttle natural gas supplies to Europe to undermine Western support for Kyiv. By mid-September, Russia had cut its supplies to 80% of their year-earlier total.

                                          Europe has had to look elsewhere for gas supplies, and paid much higher prices. While storage levels are now high, and gas prices on world markets have fallen from their peaks, household energy bills lag behind those moves and are much higher than a year earlier, as are food prices.

                                          As a result of these pressures, inflation in the region has overtaken the level in the U.S. Now it is fueling demand for higher pay in the most affected countries, which could in turn feed into further price rises.

                                          The European Union’s statistics agency Monday said consumer prices were 10.7% higher in October than a year earlier, the fastest rate of increase since records began in 1997, two years before the euro was launched. However, national records go back further, and Germany’s measure of inflation was the highest since December 1951.

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          taiwan_girlT 1 Reply Last reply
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