Inflation falls for first time in more than two years, key U.S. gauge shows, due to sinking gas pric

[Yo_Mama_Been_Loggin]

Source: Market Watch

prices


The numbers: A key gauge of U.S. inflation fell 0.1% in July thanks to tumbling gasoline prices, marking the first decline in more than two years and giving Americans some relief from a rapidly rising cost of living.

The drop in the so-called personal-consumption price index was the first since April 2020, when the U.S. economy was locked down after the initial outbreak of the coronavirus.

Economists polled by The Wall Street Journal had predicted no change in July.

A narrower measure of inflation that omits volatile food and energy costs, known as the core PCE, edged up 0.1% . That was below Wall Street’s 0.2% forecast.

Read more: https://www.marketwatch.com/story/inflation-falls-in-july-for-first-time-in-two-plus-years-key-gauge-shows-due-to-falling-gas-prices-11661517617

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Dark Brandon strikes again

[IronLionZion]

1. Thanks a lot Biden

[Rollo]

12. Someone needs to tell this to Jerome Powell

All three major US stock indices plummeted on 8/26/22 based largely on Powell's grim assessment of the economy...

[Sky Jewels]

2. Suck it, GOP. No Red Wave for you.

[LiberalFighter]

3. This is all President Biden's fault. We don't want prices to go lower. :popcorn:

[ffr]

5. Nice call!

[ffr]

4. It's a great day to proudly display your democratic affiliation.

And all that that implies if you're a fucking treasonous piece of shit republican.

Just sayin. Feels really good to get that out.

[NullTuples]

6. This means prices on everything affected by the transportation cost spike will go down too...right?

[mjvpi]

11. One would think so.

I’ll never understand how Economics can exist as a "science" without direct integration of Human Psychology. Costs might go down but people are still freaked out. Good business strategy will be to count on inflation when planning for the future which will lessen the good impacts of lower gas prices. Personally, I think supply chain issues caused by Covid are the biggest driver of this inflation. In my business, semiconductors being in short supply is the issue. But what do I know. I’ve just been a small business man for 40 years. Hard knocks and dirty socks.

[NullTuples]

13. I'd hardly call psychology a science...

But I think I get your point.

[Bengus81]

7. Yeah but those Banker barrons best buds at the FED will continue to raise interest rates

Making sure that those that can least afford yet ANOTHER CC interest rate hike gets it once again. That won't do jack shit to stop the 5-6 MEGA grocery stores (who control prices) RIP OFF that's been going on for two years and counting.

And...Gas around here jumped up 25 cents over the last two weeks when oil went from around 87 per barrel to 93.

But hell yes,keep raising interest rates until they hit 30% on credit cards,that'll fix everything. Bet those bankers are about to piss their pants with excitment at yet ANOTHER interest rate hike.

[Rebl2]

8. Oddly

Monday I drove by a station and gas was 3.29. I went by same station Wednesday and it was 3.54. I was very surprised that it would go up that much in two days. Just when I thought gas prices were getting better 😖😖😖

[Mysterian]

9. Thanks to President Biden and his competent team

That's the great thing about Democrats. We actually choose qualified people, not the biggest butt-kissers and campaign contributors.

[IrishAfricanAmerican]

10. 👍🏼

[Botany]

14. But what about Hunter's lap top?

Expect lots of talk about Hunter's lap top, the border, and out of control crime in "liberal cities"
Rupert's Cancer on America aka Fox News today. And lots of blonds too.