Author Topic: Consumer Prices Up 3.4% Through April, In Line With Estimates  (Read 720 times)

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Online mystery-ak

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Consumer Prices Up 3.4% Through April, In Line With Estimates

John Carney 15 May 2024

The consumer price index rose 0.3 percent in April compared with the previous month. Compared with 12 months earlier, prices are up 3.4 percent, according to the Department of Labor.

Economists had forecast a 0.3 percent increase in the month-t0-month figure and a 3.4 percent rise over 12 months.

Last month, the Labor Department said the consumer price index rose 0.4 percent from the prior month and 3.5 percent compared with a year earlier.

Core inflation, which excludes food and energy, rose 0.3 percent for the month. Compared with a year ago, core inflation is up 3.6 percent, slightly less than the 3.8 percent reported in March.

The index of food was flat in April compared with the previous month and is up 2.2 percent compared with a year earlier. Grocery store prices decline 0.2 percent while restaurant prices rose 0.3 percent. Energy prices climbed 1.1 percent compared with the prior month, boosted by 2.8 percent increase in gasoline prices.

The prices of goods excluding energy fell 0.1 percent, the second consecutive monthly decline. New car prices dropped 0.4 percent and used car prices fell 1.4 percent. Car insurance prices rose 1.8 percent in April. Clothing prices rose a steep 1.2 percent.

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https://www.breitbart.com/economy/2024/05/15/consumer-prices-up-3-4-through-april/
« Last Edit: May 15, 2024, 01:26:40 pm by mystery-ak »
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Online mystery-ak

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #1 on: May 15, 2024, 01:40:06 pm »
Another take


Inflation fell in April for second time in 2024 in welcome news for Fed
By
Zachary Halaschak
May 15, 2024 8:32 am
.

Inflation fell a tenth of a percentage point to 3.4% for the year ending in April, the Bureau of Labor Statistics reported Wednesday in an update to the consumer price index.

The decline in inflation is a welcome development for the Federal Reserve as considers when it will begin cutting interest rates. It is also helpful for President Joe Biden. The White House has been emphasizing any positive inflation data alongside the country’s robust labor market as “Bidenomics” in action.

On a month-to-month basis, inflation rose 0.3%.

“Core inflation,” which doesn’t include volatile food and energy prices, fell two tenths of a percentage point to 3.6% for the year ending in April. Overall, core inflation has generally trended down over the past 12 months, in a sign that the Fed’s tightening is starting to pay off.


more
https://www.washingtonexaminer.com/policy/finance-and-economy/3003445/inflation-fell-in-april-for-second-time-in-2024-in-welcome-news-for-fed/
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Online banddag

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #2 on: May 15, 2024, 01:46:13 pm »
S&P and Nasdaq beat their record highs today. Dow is about 150 pts from record high earlier this year.

Dow will be at 40,000 soon. A story today on the 'net people are taking their record profits and spending them which will help the economy.

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #3 on: May 15, 2024, 04:02:27 pm »
S&P and Nasdaq beat their record highs today. Dow is about 150 pts from record high earlier this year.

Dow will be at 40,000 soon. A story today on the 'net people are taking their record profits and spending them which will help the economy.
Well with things going so well...except for all the businesses going out of business, all the people losing their full time jobs and having to work two or three part time, all the people who lose their jobs and have to go on unemployment, all the people who lose their jobs to illegals, all the food and other items people won't buy because of inflation, I guess your happy as a pig in shit and will be voting for Joe who made all this possible. I wonder if you recall how large a segment of America are living close to subsistence level that don't invest in the market and see no benefit from the market. If things are so bitchin where are all the start ups, new businesses hiring hundreds of thousands even tens of thousands of Americans? If there is so much money out there that's being spent to help the economy why the hell are we taxpayers bankrolling so much private development with our tax dollars? And finally

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #4 on: May 15, 2024, 05:02:26 pm »
I have noticed at the discount stores like Aldi's and such prices have come down a great deal. Others seem to still be going up.

Was checking land prices here, which I haven't done for quite awhile. They have ballooned to ridiculous levels.
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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #5 on: May 15, 2024, 06:17:22 pm »
Well with things going so well...except for all the businesses going out of business, all the people losing their full time jobs and having to work two or three part time, all the people who lose their jobs and have to go on unemployment, all the people who lose their jobs to illegals, all the food and other items people won't buy because of inflation, I guess your happy as a pig in shit and will be voting for Joe who made all this possible. I wonder if you recall how large a segment of America are living close to subsistence level that don't invest in the market and see no benefit from the market. If things are so bitchin where are all the start ups, new businesses hiring hundreds of thousands even tens of thousands of Americans? If there is so much money out there that's being spent to help the economy why the hell are we taxpayers bankrolling so much private development with our tax dollars? And finally

1. Yes many families are having a rough go of it, maxing out credit cards, etc.  What is not mentioned is many of these folks refuse to cut back, they still eat out often. Still taking trips . As a banker friend of mine said it's not they have  less money, many refuse to cut back on their spending.  Las Vegas this year has record hotels books and travelers.

2. Closed business??  I have seen the 2600 retail stores meme floating around all the conservative sites. OH MY gawd Joe is killing the stores. There are 1.06 million retail shops in the US. Most of the 2600 stores closing have been in bankruptcy for the last 10 years. Rue21 on the list has declared bankruptcy for the 3rd time.

3. 60% of the American public now have individual stock market/mutual funs accounts and that number grows each year.

4. New business startups?  5.5 MILION new business in 2023. Broke all previous records.

5. Yes, many people are at subsistence level.  Last week on a thread I pointed out the billionaire elites tax rates a re minimal.  Top 400 of the richest families in the America  paid on average 8.7% on their taxes. I was attacked as a liberal commie etc for suggesting such a thing that the elites need to pay ore as their wealth is growing exponentially. American Thinker came out today and talked about the wealth gap

6. We are bankrolling private development because every other country in the world is also doing so...at levels way more than the US . If we do not subsidize our industries and keep our companies competitive China and other will destroy us. China has moved into the most advanced EV's, battery technology.  Musk said if we did not put tariffs on Chinese ev;s it would be a extinction level event for the us car co's. We live in a unfair world. This is no longer 1776 or 1955 where we did not have to worry about foreign competition. I live in the real world.

7. US companies cannot find workers for lower paying jobs/unskilled.

8. Our unemployment rate is very low.

9. get off the rw chat boards, your church group, the bloggers and such who make big $$ selling fear porn, your like minded friends and look what is really going on.

10. Yes retirees are being hard hit. many of these retires retired way too soon and should have worked 4-5-6 more years. I cannot tell you how many bragged on FB they were retiring at age 57, 58, 60 and talking about how much fun retirement is to us working peons. now they are going back to work and eating crow.. Most also had no where enough money in savings. A friend of mine retired at 58. He had a moderate/generous pension but I told him at the time he was retiring too early.  No no no. Now he is going back to work at age 63. My CFP has been begging his clients they need to par back the spending. Some are listening some are not.

« Last Edit: May 15, 2024, 06:21:04 pm by banddag »

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #6 on: May 15, 2024, 07:24:25 pm »
Every governmental agency is just as corrupt and lying as their leader Biden. 

3.4% annual YTD?  No one believes this.  I conduct and manage very detailed budgets and spending analyses.  And from my POV, inflation is still in the neighborhood of 9-10%

Biden is a bald faced liar.
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Offline roamer_1

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #7 on: May 15, 2024, 07:47:41 pm »
Every governmental agency is just as corrupt and lying as their leader Biden. 


Don't ever expect otherwise. It is the nature of government.
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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #8 on: May 15, 2024, 09:13:06 pm »
1. Yes many families are having a rough go of it, maxing out credit cards, etc.  What is not mentioned is many of these folks refuse to cut back, they still eat out often. Still taking trips . As a banker friend of mine said it's not they have  less money, many refuse to cut back on their spending.  Las Vegas this year has record hotels books and travelers.

2. Closed business??  I have seen the 2600 retail stores meme floating around all the conservative sites. OH MY gawd Joe is killing the stores. There are 1.06 million retail shops in the US. Most of the 2600 stores closing have been in bankruptcy for the last 10 years. Rue21 on the list has declared bankruptcy for the 3rd time.

3. 60% of the American public now have individual stock market/mutual funs accounts and that number grows each year.

4. New business startups?  5.5 MILION new business in 2023. Broke all previous records.

5. Yes, many people are at subsistence level.  Last week on a thread I pointed out the billionaire elites tax rates a re minimal.  Top 400 of the richest families in the America  paid on average 8.7% on their taxes. I was attacked as a liberal commie etc for suggesting such a thing that the elites need to pay ore as their wealth is growing exponentially. American Thinker came out today and talked about the wealth gap

6. We are bankrolling private development because every other country in the world is also doing so...at levels way more than the US . If we do not subsidize our industries and keep our companies competitive China and other will destroy us. China has moved into the most advanced EV's, battery technology.  Musk said if we did not put tariffs on Chinese ev;s it would be a extinction level event for the us car co's. We live in a unfair world. This is no longer 1776 or 1955 where we did not have to worry about foreign competition. I live in the real world.

7. US companies cannot find workers for lower paying jobs/unskilled.

8. Our unemployment rate is very low.

9. get off the rw chat boards, your church group, the bloggers and such who make big $$ selling fear porn, your like minded friends and look what is really going on.

10. Yes retirees are being hard hit. many of these retires retired way too soon and should have worked 4-5-6 more years. I cannot tell you how many bragged on FB they were retiring at age 57, 58, 60 and talking about how much fun retirement is to us working peons. now they are going back to work and eating crow.. Most also had no where enough money in savings. A friend of mine retired at 58. He had a moderate/generous pension but I told him at the time he was retiring too early.  No no no. Now he is going back to work at age 63. My CFP has been begging his clients they need to par back the spending. Some are listening some are not.

Every point you made you’ve placed the blame of the mess that were in on the American people

And yet in this post, not a single bit of blame  goes to the government  for their  mismanagement of the nation’s finances. You seem to believe that they’re not responsible at all for our unsustainable debt and the printing that requires to maintain it, which leads to inflation. Many of us predicted that we would see significant inflation again when the government was shutting down businesses and paying people are staying home. That was 100% the government that did that

It is the government that’s created a whole class of people who are now dependent on the government

It is the government that help lead to the destruction of the black family

Our government has pretty much mismanaged or created unintended consequences on just about everything that touches yet somehow you want them to have more power. Completely mind-boggling

Then you turn around and blame “right wing porn” for why people in this country feel the  way they do about the economy.   Perhaps you should stop to think that maybe they feel the way they do because they’re experiencing the reality in their own lives




 
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Offline roamer_1

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #9 on: May 15, 2024, 09:26:13 pm »
Every point you made you’ve placed the blame of the mess that were in on the American people

And yet in this post, not a single bit of blame  goes to the government  for their  mismanagement of the nation’s finances. You seem to believe that they’re not responsible at all for our unsustainable debt and the printing that requires to maintain it, which leads to inflation. Many of us predicted that we would see significant inflation again when the government was shutting down businesses and paying people are staying home. That was 100% the government that did that

It is the government that’s created a whole class of people who are now dependent on the government

It is the government that help lead to the destruction of the black family

Our government has pretty much mismanaged or created unintended consequences on just about everything that touches yet somehow you want them to have more power. Completely mind-boggling

Then you turn around and blame “right wing porn” for why people in this country feel the  way they do about the economy.   Perhaps you should stop to think that maybe they feel the way they do because they’re experiencing the reality in their own lives

That's right. Every bit of it.
Unintended consequences or not(?)

Online banddag

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #10 on: May 15, 2024, 10:23:22 pm »
Every point you made you’ve placed the blame of the mess that were in on the American people

 That was 100% the government that did that



Then you turn around and blame “right wing porn” for why people in this country feel the  way they do about the economy.   Perhaps you should stop to think that maybe they feel the way they do because they’re experiencing the reality in their own lives


1. Yes, partially blaming the  American people but if you do not have a job right now it is your own fault. I live in a moderate growth area, not slow, not booming but every business has help wanted signs right now. It is a fact people are spending way too much.  Talk with any loan officer. People still want to live and spend like it is 2018 2019. Yes seniors/retired people and low skilled/uneducated low paid  workers are having a rough go of it, I do not deny that.


2. Some of the inflation issue was caused by Trump, Some by Biden and some neither were at fault. Yes govt spending is out of control and our debt  is a major problem we face. ..but our debt will be addressed. Have you noticed all the articles written by top economist that we really need to start taking the debt and out of control spending serious. Jamie Dimon had a article  today. I have noticed 2-3 per week now.  Republicand and democrats are finally seeing the problem it is and are coming together. Both KNOW it is the issue of our times.

Steve Mnuchen, TRump's Sec of Treasury warned Trump in 2018-2019 he needed to push the Fed to SLOWLY  increase artificially low interest rates or he would have a inflation problem in his second term due to the run of people buying up homes and driving up prices to record levels.. Trump refused because he thought it would slow down the economy too much. . It is in Mnuchens book. Housing prices shot up to exorbitant levels...Inflation= too much money chasing too few goods. Trumps 8 trillion of spending and 2.1 trillion  covid act was another cause of inflation.

The collapse of the supply chain was another major cause of inflation. Remember when Ford could not get chips and dealers were adding on 20-25k or more to the sticker of trucks on the lot and people were buying them.  My wife was offered  a cash price on her truck for what she paid for it new 4 years earlier.

Neither Trump or Biden were at fault over the collapse of the supply chain. . It was the fault of globalization over the last 25-30 years and putting all our eggs in one basket-China.

Yes, Bidens spending and laws is causing inflation.
Too blame inflation entirely on  biden is the lazy way out as every country in the world suffered from inflation  Most way worse than us. To only blame biden is a lack of economic history and partisanship.
« Last Edit: May 15, 2024, 10:37:48 pm by banddag »

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #11 on: May 15, 2024, 10:31:50 pm »
S&P and Nasdaq beat their record highs today. Dow is about 150 pts from record high earlier this year.

The devaluation of the dollar has the same effect on stock prices that it has on rent and grocery prices.
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Online banddag

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #12 on: May 15, 2024, 10:35:48 pm »
The devaluation of the dollar has the same effect on stock prices that it has on rent and grocery prices.

My mutual fund accounts  have been averaging 9-16% every year since I have taken  them out 25-35 years ago. Sometimes way higher, sometimes in the negative due to correction.

Way above inflation rates.

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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #13 on: May 15, 2024, 10:37:38 pm »
Same with real estate and rents.
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Re: Consumer Prices Up 3.4% Through April, In Line With Estimates
« Reply #14 on: May 16, 2024, 03:11:37 am »
Prices increasing at a slower rate is nothing to celebrate.  It's still inflation.

Gold is signaling a lack of trust that the US dollar can be a reliable, stable store of value.



« Last Edit: May 16, 2024, 03:12:32 am by DefiantMassRINO »
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