Annual inflation falls to 3.1 percent

[mystery-ak]

Annual inflation falls to 3.1 percent
by Sylvan Lane - 02/13/24 8:36 AM ET


Consumer prices rose 3.1 percent over the past year and 0.3 percent in January, according to data released Tuesday by the Labor Department.

The annual inflation rate fell from 3.4 percent in December while monthly price growth accelerated slightly from a 0.2-percent rate last month.

Economists expected the annual inflation rate to fall to 2.9 percent and monthly inflation to come in around 0.2 percent, according to consensus estimates.

The January inflation decline is the latest sign of the U.S. economy holding up better than many experts expected with just nine months until the November elections.

President Biden is attempting to convince voters he is better suited to handle the economy after guiding the U.S. through a recordbreaking rebound from the COVID-19 pandemic. Job growth has remained strong throughout Biden’s presidency and inflation has fallen sharply after peaking at annual rate of 9.1 percent in June 2022.

Even so, Biden still remains locked in a tight race with former President Trump and lags his predecessor in polling on his economic record. Trump beat by Biden by 11 points when voters were asked who is better at handling the economy in a Financial Times poll released Monday.

Developing

https://thehill.com/business/4464829-annual-inflation-falls-to-3-1-percent/

[DefiantMassRINO]

Fed can't afford to raise interest rates ... cost of servicing Federal Debt and decreased bond values causing bank losses and insolvency.

dollar denominated 5 year gold trend still looks inflationary

[rustynail]

Zerohedge has a different take..

https://www.zerohedge.com/markets/cpi-prints-hotter-expected-january-food-utilities-jumped

[catfish1957]

Come on baby raise those interest rates again...daddy needs a new CD.   

I like the way you think.   

[Weird Tolkienish Figure]

Which means prices are still up... bad news for Biden. People's rents/mortgages have doubled/tripled over the past few years. People aren't stupid.

[catfish1957]

Which means prices are still up... bad news for Biden. People's rents/mortgages have doubled/tripled over the past few years. People aren't stupid.

I completed my very metiuclous budget earlier this month, and 2024 vs, 2023 was up a tad over 9%.  And this pretty much covers most of planned and expected expenditures down to the dollar.

Anyone thinking the CPI is anywhere near 3% in the past 3+ years is a fool.