The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on November 10, 2022, 02:09:20 pm
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Consumer Prices Rose 7.7% in October, Core Inflation Eases
John Carney 10 Nov 2022
Consumer prices continued to climb in October as the pace of overall inflation held at the level hit a month earlier and underlying inflation excluding food and fuel slowed.
The Labor Department’s consumer price index rose by 0.4 percent compared with a month earlier. Compared with 12 months ago, the CPI is up 7.7 percent.
Core consumer prices, a key measure of inflation that excludes food and energy, rose 0.3 percent compared with September and are up 6.3 percent from a year earlier.
Economists had expected a 0.7 percent month-to-month rise in CPI. Prices were expected to be up 7.9 percent compared with a year ago. Core prices were seen as rising 0.5 percent for the month and 6.6 percent for the year.
Inflation cooled dramatically in July, with the CPI unchanged compared with June its smallest increase since 2020. This prompted many to declare that inflation had peaked and inspired hopes that the rapid price increases that have beset the economy since last year might be in the rearview mirror. Inflation accelerated in August and September, however, dashing those hopes. In September, the CPI was up 0.4 percent for the month and 8.2 percent compared with a year earlier.
Core prices were up 0.6 percent in September from August and 6.6 percent year over year. So the pace of core inflation decelerated in October.
more
https://www.breitbart.com/economy/2022/11/10/consumer-prices-up-7-7-in-october/
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DOW is up a 1000, "celebrating" 7.7% inflation.
I am living in bizarro world.
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Sure they say 7.7% now, say. I wonder what will happen in a month as people shop for those Christmas - sorry don't want to upset the Feeb observers- holiday gifts, roasts, turkeys that are in short supply so inflated prices(that nasty supply and demand thing that dems don't understand). Also who believes that the fuel prices that conveniently came down just in time for the election aren't going to start climbing again real real soon.
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DOW is up a 1000, "celebrating" 7.7% inflation.
I am living in bizarro world.
Inflation affects stock prices, too. More dollars chasing fewer goods. Price of eggs goes up? So does the price of IBM shares.
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Inflation affects stock prices, too. More dollars chasing fewer goods. Price of eggs goes up? So does the price of IBM shares.
It could very well be too much loose cash chasing yield.
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Inflation affects stock prices, too. More dollars chasing fewer goods. Price of eggs goes up? So does the price of IBM shares.
Except for the fact it as a forebearer of a recessionary economy. There is a 100% chance that eroding buying power is going to eventually reduce demand and volume. That in turn will adversely impact earning, and thusly dividends and returns.
In normal times, this data plus electoral approval of Biden's mismanagement should be sinking this market.