Inflation falls for fourth month in a row, now at 2.9%

[mystery-ak]

Inflation falls for fourth month in a row, now at 2.9%
By
Zach Halaschak
August 14, 2024 8:33 am
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In some good news for Vice President Kamala Harris and the economy, annual inflation fell to 2.9% in July — now marking four months of disinflation.

The one-tenth of a percentage point decline in the consumer price index comes as most economists expected that annual inflation would remain at 3%, the same as the month before.

Notably, inflation is now the lowest it has been since March 2021, shortly after President Joe Biden was sworn in.

On a month-to-month basis, inflation rose 0.2%.

Inflation is the biggest concern facing voters, so the White House and Harris campaign are undoubtedly breathing a sigh of relief that there wasn’t an unexpected uptick. Republicans have worked hard to tie Harris to the economy.

The Federal Reserve, which has raised interest rates to their highest level since the turn of the century, will also be pleased to see inflation continuing its descent back to earth. Continued declines may allow the Fed to cut, which would be good news for consumers and the labor market.

The elephant in the room recently has been the lackluster July employment report.

The economy added 114,000 jobs in July, far fewer than expected, and the unemployment rate rose two-tenths of a percentage point to 4.3%, the Bureau of Labor Statistics reported. That was a pretty big miss from expectations that more jobs would be added and the unemployment rate would remain at 4.1%.

more
https://www.washingtonexaminer.com/policy/finance-and-economy/3120437/inflation-falls-for-fourth-month-in-a-row-now-at-2-9/

[catfish1957]

We all shop for groceries and other goods.  Inflation is not abating.  I can see it weekly.

We need to start having these pencil d__k'ed bureaucrats start reporting their numbers under congressional committee hearing oath.   Faux reporting in the guise of electoral pandering lies.

[Smokin Joe]

Inflation is the rate of increase in prices (or, actually, decrease in the value of your money).

If the rate of increase falls, that's still an increase, at least until it goes negative.

It just means prices are going up more slowly than they were, not that they aren't still increasing.

[DefiantMassRINO]

So, stuff is still getting more expensive, but at a slower rate?

Is "disinflation" slowing inflation or is it actual deflation?

I need to know which dressing to put on my word salad.

[LMAO]

People have been concerned about the state of the economy for several years. Probably going back to the BHO presidency

However, they rate their own finances more positively and this summer travel season broke records

[DefiantMassRINO]

There is an increasing barrier of entry for upward mobility, especially for younger people due to high education and housing costs.

I bought my home in 2004.  I couldn't afford to purchase it in 2024.

[catfish1957]

Let me put this in perspective.  Kamel-uh claiming this is good economic news is like Minnesota pols claiming crime is down 90% after the George Floyd Thuggery riots ended.   

The damage is done, and can't be un-done.

[Smokin Joe]

Let me put this in perspective.  Kamel-uh claiming this is good economic news is like Minnesota pols claiming crime is down 90% after the George Floyd Thuggery riots ended.   

The damage is done, and can't be un-done.

Larceny and arson are down (Translation: all the stuff has been jacked, and the buildings burned, so there's nothing left to rip off or torch).