The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on November 20, 2023, 02:20:22 pm
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Shoppers still punished by soaring prices as Joe Biden cheers latest inflation numbers
By Social Links for Shannon Thaler
Published Nov. 20, 2023, 8:09 a.m. ET
No, you’re not imagining it — the price of just about everything in your life is getting more expensive.
President Joe Biden this week spun the latest inflation numbers as good news for Bidenomics — cheering that October’s Consumer Price Index climbed a slightly less-than-expected 3.2% from last year.
But it’s cold comfort to consumers who are still getting socked by stratospheric prices for everything — from their groceries to the rent to the car they drive and the gas in its tank.
Indeed, compared to October 2020, when the US was under a COVID-induced lockdown, prices are up a blistering 18.2%.
According to data from the US Inflation Calculator, which tracks changes in the price of basic food staples based on the monthly CPI, the price of a dozen grade-A eggs rose a whopping 47% over the past three years, to $2.07 from $1.41.
more
https://nypost.com/2023/11/20/business/shoppers-punished-by-soaring-prices-as-biden-cheers-inflation-numbers/
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We need to elect our own Javier.
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Just because inflation is slowing, doesn't mean the damage the past few years has been undone.
The MSM is whitewashing the fact that Dollars and Cents are about baselines. Outside a highly unexpected deflationary economy, that 30% increase in goods and services the past three year will never be recovered. We sure won't be seeing a 30% increase in equity prices anytime soon. I expect the opposite.
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Just because inflation is slowing, doesn't mean the damage the past few years has been undone.
The MSM is whitewashing the fact that Dollars and Cents are about baselines. Outside a highly unexpected deflationary economy, that 30% increase in goods and services the past three year will never be recovered. We sure won't be seeing a 30% increase in equity prices anytime soon. I expect the opposite.
Exactly, lower inflation doesn't do people any good, it just means that prices don't increase as fast. The damage has already been done.
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Exactly, lower inflation doesn't do people any good, it just means that prices don't increase as fast. The damage has already been done.
But for many years now we've been told that spending 10% more rather than 20% more is a cut in spending!
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(https://pbs.twimg.com/media/F_kJE4wXoAEXcZU?format=jpg&name=small)
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KJP actually posted a chart with the claim of how Thanksgiving has gotten cheaper under Biden. Now, I know that her job is to simply repeat the talking points of the administration.
But at some point, you would think her personal dignity and integrity would kick in