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Online mystery-ak

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Inflation rises 3.3% in May, less than expected
« on: June 12, 2024, 08:55:37 am »
June 12, 2024 8:32am EDT | Updated June 12, 2024 8:40am EDT
Inflation rises 3.3% in May, less than expected
Labor Department releases closely watched May inflation data

By Megan Henney FOXBusiness


Inflation cooled more than expected in May, a welcome sign for the Federal Reserve even as prices remained uncomfortably high for millions of Americans.

The Labor Department said Wednesday that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, was unchanged in May from the previous month. Prices climbed 3.3% from the same time last year. Both of those figures are lower than the 3.4% headline gain and 0.1% monthly increase forecast by LSEG economists.

Another data point that measures underlying inflationary pressures within the economy also moderated last month. So-called core prices, which exclude the more volatile measurements of gasoline and food in order to better assess price growth trends, increased 0.2% in May. From the same time last year, the gauge climbed 3.4% — the lowest reading since 2021.

This is a developing story. Please check back for updates.

https://www.foxbusiness.com/economy/cpi-inflation-may-2024
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Online Bigun

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Re: Inflation rises 3.3% in May, less than expected
« Reply #1 on: June 12, 2024, 09:15:16 am »
Figures don't lie but liars sure can figure!!!
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Online mystery-ak

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Re: Inflation rises 3.3% in May, less than expected
« Reply #2 on: June 12, 2024, 09:19:27 am »
Another take..

Inflation Remains Stubbornly High As Elevated Prices Continue To Dog Americans


Will Kessler
Contributor
June 12, 2024 8:35 AM ET
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Inflation remained high in May as rising prices and elevated interest rates continue to weigh on Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The consumer price index (CPI), a broad measure of the price of everyday goods, increased 3.3% on an annual basis in May and 0% month-over-month, compared to 3.4% in April, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 3.4 year-over-year in May, compared to 3.6% in April.

Inflation peaked at 9% under President Joe Biden in June 2022 after rising from 1.4% year-over-year in January 2021 and has since failed to drop below 3%. Economists expected CPI to increase by 0.1% for the month in May and remain at 3.4% for the year, according to MarketWatch.

May’s changes to the CPI were released just hours ahead of the conclusion of the Federal Open Market Committee’s (FOMC) June meeting, where it will be decided whether to adjust its benchmark federal funds rate. The Federal Reserve has currently set the rate in a range of 5.25% and 5.50%, a 23-year high, in an attempt to tame elevated inflation, raising the cost of credit across the economy.

Economic growth has also slowed in the last several months as inflation continues to weigh on consumer spending, with the nation’s gross domestic product increasing just 1.3% in the first quarter of 2024.

more
https://dailycaller.com/2024/06/12/inflation-rate-cpi-high-finances/
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Online Bigun

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Re: Inflation rises 3.3% in May, less than expected
« Reply #3 on: June 12, 2024, 10:03:10 am »
This perfectly illustrates how government bean counters cook the books!




https://twitter.com/jsolomonReports/status/1800840497944010992
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline GtHawk

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Re: Inflation rises 3.3% in May, less than expected
« Reply #4 on: June 12, 2024, 11:08:14 am »
Quote from: Bigun on June 12, 2024, 10:03:10 am
This perfectly illustrates how government bean counters cook the books!




https://twitter.com/jsolomonReports/status/1800840497944010992
That and the fact that 50% of the people and businesses that have anything to steal have bailed on Oakland, I sure was uncomfortable when I had to do work at a high school there twenty some years ago, so uncomfortable I kept a gun in my coat pocket every minute.
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Re: Inflation rises 3.3% in May, less than expected
« Reply #5 on: June 12, 2024, 11:23:32 am »
If you celebrate lower expectations what the hell does that tell you about our government.
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Offline libertybele

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Re: Inflation rises 3.3% in May, less than expected
« Reply #6 on: June 12, 2024, 11:28:44 am »
Quote from: Bigun on June 12, 2024, 10:03:10 am
This perfectly illustrates how government bean counters cook the books!




https://twitter.com/jsolomonReports/status/1800840497944010992

'Government bean counters' -- that's a very good description.
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Online Bigun

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Re: Inflation rises 3.3% in May, less than expected
« Reply #7 on: June 12, 2024, 02:12:37 pm »
Admission Of Failure? Democratic Cities Stop Reporting Crime Stats To FBI

BY TYLER DURDEN
TUESDAY, JUN 11, 2024 - 06:25 PM
The Biden administration's statisticians at the Bureau of Labor Statistics have painted a rosy economic picture for the job market. Yet, voters know damn well the economy is in a persistent inflation storm sparked by Bidenomics. That's why President Biden's reelection odds are sinking by the month. The most recent BLS jobs report shows just how absurd these reports get by the month, and there is no shame by the gov't statisticians as working poor Americans struggle to pay rent and put food on the table.

Context about the political BLS is crucial to understanding that data massaging doesn't stop there. The White House has recently unleashed its propaganda cannons, claiming nationwide crime has plunged to a half-century low. The problem with this narrative is that it's at odds with imploding progressive cities that do not uphold law and order and fail to arrest and prosecute criminals. Plus, on top of this all, Democrats have flooded the nation with ten million illegal aliens. ...

Excerpt: Rest at headline link
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Online DefiantMassRINO

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Re: Inflation rises 3.3% in May, less than expected
« Reply #8 on: June 12, 2024, 02:17:34 pm »
Stuff is still 3.3% more expensive, and that 3.3% excludes everything I need to live.
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Offline catfish1957

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Re: Inflation rises 3.3% in May, less than expected
« Reply #9 on: June 12, 2024, 02:56:08 pm »
3.3%????  LMAO...    These agencies have been under/over-reporting numbers routinely since Pedo Joe has taken office.

Wait till the 2 month update of actual, which usually ends up on page 10.
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Online Bigun

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Re: Inflation rises 3.3% in May, less than expected
« Reply #10 on: June 12, 2024, 03:01:49 pm »
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien
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