Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing

[mystery-ak]

Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing
By
Zach Halaschak
September 11, 2024 8:34 am
.

Inflation fell four-tenths of a percentage point to 2.5% for the year in August, the Bureau of Labor Statistics reported Wednesday, marking five months of disinflation and providing good news for Vice President Kamala Harris as she campaigns for president.

Economists had expected that inflation would fall from 2.9% to 2.6%.

Inflation is now the lowest it has been since February 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 inflation continued trending down. Republicans have worked hard to tie Harris to the economy.

more
https://www.washingtonexaminer.com/policy/finance-and-economy/3149425/inflation-fell-for-fifth-month-in-a-row-to-2-5-in-august-clearing-way-for-fed-easing/

[Drago]

On the other hand: "Higher 'core' inflation in CPI could derail chance of larger Fed rate cut":

https://www.marketwatch.com/livecoverage/cpi-report-for-august-inflation-data-expected-to-weigh-heavily-on-fed-s-rate-cut-plan/card/higher-core-inflation-in-cpi-could-derail-chance-of-larger-fed-rate-cut-QzclbdxkWkL17QgnfvN4

[Smokin Joe]

You mean the already inflated prices are only going up a little slower (as a percentage of the inflated prices, which is larger than that percentage of the original prices). It's like compound interest, only it's working against us.

[jafo2010]

Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing


   ONE BIG FAT LIE!

Real inflation is higher by a magnitude of 4x or 5x.  Perhaps more.

[Smokin Joe]

Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing


   ONE BIG FAT LIE!

Real inflation is higher by a magnitude of 4x or 5x.  Perhaps more.

Interesting what numbers one can come up with if you leave out energy, food, housing, etc. Like the 'jobs' numbers, later revisions (if even done) may better reflect the catastrophe that is the current administration.

[Bigun]

Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing


   ONE BIG FAT LIE!

Real inflation is higher by a magnitude of 4x or 5x.  Perhaps more.

Figures don't lie but liars sure can figure!

[libertybele]

Inflation fell for fifth month in a row to 2.5% in August, clearing way for Fed easing


   ONE BIG FAT LIE!

Real inflation is higher by a magnitude of 4x or 5x.  Perhaps more.

There's just no way that you're going to be able to convince my wallet that inflation is falling.

[berdie]

There's just no way that you're going to be able to convince my wallet that inflation is falling.

Exactly! You can tell me unicorns are grazing in my backyard...but until I have to give them oats and pick up their poop, I won't believe it.

[IsailedawayfromFR]

We have reached a point in this country that no intelligent person believes what the government says.

Pretty ominous for the future of this country if citizens do not trust their own leaders.

[Smokin Joe]

Went to the grocery store and picked up a few things. Nothing fancy, just a little bacon in the meat dept. spent $70 and could carry it all in in one trip.

Thank God I was moved to stock up on canned goods a couple years ago (when I could get three cans for the price of two today), and that the tomatoes are coming ripe.