Inflation up 3.5% from 1 year ago | Drudge Retort

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Wednesday, April 10, 2024

Inflation up 3.5% from 1 year ago

The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon. The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage point higher than in February, the Labor Department's Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for a 0.3% gain and a 3.4% year-over-year level. Excluding volatile food and energy components, core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%.

Posted by sitzkrieg at 10:09 AM | 30 COMMENTS | permalink | Comment on This Entry |

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Shelter and energy costs drove the increase on the all-items index.

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Most Americans Aren't Buying Biden's Misleading Narrative That the Economy Is Getting Better

"The economy is growing, unemployment is low, wages are up, and inflation is down. However, the American people remain grumpy about the state of the economy. This puzzle was just investigated by four economists. They found that people often know that something is wrong even if statistics don't reflect the problem. In this case, people are perceiving that inflation is still, in fact, high.

For months now, Americans have been told that inflation's downward trend, from almost 9 percent annually to around 3 percent, should make them feel good about the economy. But it isn't working. A recent Gallup poll found that 63 percent say the state of the economy is getting worse and 45 percent think it's already "poor." One reason, many have speculated, is that while the rate at which prices are rising might have slowed considerably, prices remain very high. Food and rent in particular are still expensive. These prices are felt everyday by Americans when they pay for their housing and go to the supermarket."

#1 | Posted by sitzkrieg at 2024-04-10 10:11 AM | Reply

1

Ah, from, "Free Minds and Free Markets"... no bias there.

#2 | Posted by Corky at 2024-04-10 10:19 AM | Reply

So we're going to panic over .3 % increase in one month. Ok.

#3 | Posted by LegallyYourDead at 2024-04-10 10:59 AM | Reply

They're reporting on academic studies trying to find the disconnect, but whatever you need to fit the narrative in your head.

Turns out measuring Inflation is much like measuring Poverty. There's the Official metric. Then there's the real metric, the SPM. Unfortunately our government hasn't caught up to Inflation like Poverty to implement a real metric.

#4 | Posted by sitzkrieg at 2024-04-10 11:49 AM | Reply | Newsworthy 1

It's transient

#5 | Posted by oneironaut at 2024-04-10 12:07 PM | Reply | Funny: 1

Unfortunately our government hasn't caught up to Inflation like Poverty to implement a real metric.
- sitz

It seems to be the metric, inflation, poverty, unemployment, changes constantly.

Ergo comparing last year to this year is invalid.

And that is the point.

#6 | Posted by oneironaut at 2024-04-10 12:10 PM | Reply

"Turns out measuring Inflation is much like measuring Profit."

^
Fixed that for ya.

#7 | Posted by snoofy at 2024-04-10 12:10 PM | Reply

One reason, many have speculated, is that while the rate at which prices are rising might have slowed considerably, prices remain very high.

Duh.

I love it how clueless people are despite having overly strong opinions.

#8 | Posted by jpw at 2024-04-10 12:50 PM | Reply

They're reporting on academic studies trying to find the disconnect, but whatever you need to fit the narrative in your head.

Except 2.5-3% is the norm.

It's hilarious how normal people are finally becoming privy to the normal machinations of the world around them and they're freaking out. None seem to stop and think that things were great for them when many of these conditions existed in the past.

#9 | Posted by jpw at 2024-04-10 12:52 PM | Reply | Funny: 1

Except 2.5-3% is the norm.

#9 | POSTED BY JPW AT 2024-04-10 12:52 PM | FLAG:

That's the point of the studies. That's the norm when rates are low. Rates are not low. New metrics have to capture the lending rates to reconcile people's view of inflation vs government metrics.

#10 | Posted by sitzkrieg at 2024-04-10 01:16 PM | Reply

Ah, from, "Free Minds and Free Markets"... no bias there.

#2 | Posted by Corky

---suck on this.

"Consumer prices rose 3.5% from a year ago in March, more than expected"

---suck on this...

Stubbornly high US inflation grew stronger than expected in March

---and suck on one more..

Consumers prices surged in March, raising 3.5% from a year ago, according to a disappointing report on inflation.
www.today.com

#11 | Posted by shrimptacodan at 2024-04-11 09:05 AM | Reply

Corporate Profits
Quarterly
Q4 2023 +4.1%
Q3 2023 +3.4%
Annual
2023 +1.5%
2022 +9.8%
www.bea.gov

#12 | Posted by snoofy at 2024-04-11 09:15 AM | Reply

So well below inflation when adjusted for debt costs.

#13 | Posted by sitzkrieg at 2024-04-11 02:20 PM | Reply

Yes, it's below inflation when you adjust for... checks notes... inflation.

#14 | Posted by snoofy at 2024-04-11 02:23 PM | Reply

Snoofy with the economic expertise of somebody that can't do minimum payment calculations.

#15 | Posted by sitzkrieg at 2024-04-12 09:22 AM | Reply | Newsworthy 2

#15 Never forget Snoopy bragged about his COVID stimulus checks and COVID unemployment money direct deposited into his fake BOA Visa (logoed debit card), well, because it was FREE money.

#16 | Posted by gracieamazed at 2024-04-12 09:53 AM | Reply

COVID stimulus checks were separate from unemployment. Still not sure why you want to call any of it "fake" though...

COVID Stimulus was free money for just about everyone, but if you didn't work or got paid under the table, you may have missed out.

Unemployment insurance I earned through working, and by not being terminated for cause.

#17 | Posted by snoofy at 2024-04-12 10:32 AM | Reply | Funny: 1

Oh yes, I can never forget the money tree where free money comes from.

#18 | Posted by gracieamazed at 2024-04-12 10:39 AM | Reply

Snoofy with the economic expertise of somebody that can't do minimum payment calculations.
#15 | POSTED BY SITZKRIEG

My mistake was not realizing what a scam student loans are. They're designed to have you pay for 25 years, and then be "forgiven."

For example, since payments resumed last year, my first payment is not actually due until Q4. Meanwhile, interest accumulates every day. If you do it their way, you get ripped off.

#19 | Posted by snoofy at 2024-04-12 10:39 AM | Reply

Oh yes, I can never forget the money tree where free money comes from.
#18 | POSTED BY GRACIEAMAZED

That's right. It's the same place you get your Social Security checks from.

#20 | Posted by snoofy at 2024-04-12 10:39 AM | Reply

Funny thing about student loans, now that interest rates are up and my loans with the highest rates are paid off, this interest rate actually isn't so bad any more, relatively speaking. It's below prime.

#21 | Posted by snoofy at 2024-04-12 10:41 AM | Reply

That's right. It's the same place you get your Social Security checks from.
#20 | POSTED BY SNOOFY

You arguing against the social security tax?

Seems reasonable, 15% of your salary going in to the system, only to borrow when you deserve seems silly.

Then ridiculed because you are collecting a benefit you paid into.

Like you imply the whole system is scam to tax people.

#22 | Posted by oneironaut at 2024-04-12 11:11 AM | Reply

For example, since payments resumed last year, my first payment is not actually due until Q4. Meanwhile, interest accumulates every day. If you do it their way, you get ripped off.
#19 | POSTED BY SNOOFY

Why not do it your way?

I really see it no different than CC debt, the min payment goes on forever.

#23 | Posted by oneironaut at 2024-04-12 11:14 AM | Reply

Unemployment insurance I earned through working, and by not being terminated for cause.

You and your cohorts didn't pay for the TRUE cost of unemployment benefits.

California had to borrow billions of dollars from the federal government to pay for benefits.

Which also came from the same place you get your Social Security from.

#24 | Posted by oneironaut at 2024-04-12 11:18 AM | Reply

"You and your cohorts didn't pay for the TRUE cost of unemployment benefits."

That is how insurance is supposed to work, are you new?

#25 | Posted by snoofy at 2024-04-12 11:34 AM | Reply

"Seems reasonable, 15% of your salary going in to the system, only to borrow when you deserve seems silly."

Borrow? That's not how Social Security works. Only Congress borrows from Social Security.

#26 | Posted by snoofy at 2024-04-12 11:36 AM | Reply

I paid my student loans in 3 years.

My daughter will pay back her loans for law school in 3 years.

It's not appropriate to say "it's a scam" just referring to student loans.

It's part of an overall cost of education. Was the cost worth it? Not the loan necessarily.

If you went to a horrible school...and you can't make anything based off the worthless degree...that's a problem with the school along with the loan system.

#27 | Posted by eberly at 2024-04-12 11:39 AM | Reply

-You and your cohorts didn't pay for the TRUE cost of unemployment benefits.

the employer pays all of that and can't share the cost with the employee.

Unlike health insurance or even social security where the cost is shared....

same goes with work comp. employer pays all of it and can't get any of it back from the employee.

#28 | Posted by eberly at 2024-04-12 11:41 AM | Reply

"the employer pays all of that and can't share the cost with the employee."

I mean, they are supposed to think of that when they forecast hiring people that they might someday have to layoff.

#29 | Posted by snoofy at 2024-04-12 12:34 PM | Reply

"Seems reasonable, 15% of your salary going in to the system, only to borrow when you deserve seems silly."

That's why tax cuts, giving upfront constructive use of the money, are so much more valuable than putting money away for SS, the rough equivalent of a 30 year bond paying ~2%.

#30 | Posted by Danforth at 2024-04-12 12:43 PM | Reply

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