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re: US CPI comes in "hotter than expected"
Posted on 5/15/24 at 7:10 pm to boogiewoogie1978
Posted on 5/15/24 at 7:10 pm to boogiewoogie1978
quote:
By whom? The average person can tell you this shite is flaming.
The average person doesn’t understand rate of change one bit.
Saying prices are at all time highs today is true. They were at all time highs under Trump too. And Obama before him.
The rate of change is what the Fed targets, and that has objectively gotten much better in the past two years.
2
Posted on 5/15/24 at 7:18 pm to slackster
So many people think inflation going down means prices are falling
Posted on 5/16/24 at 7:28 am to Bard
Dup
This post was edited on 5/16/24 at 7:32 am
Posted on 5/16/24 at 7:33 am to Pendulum
quote:
They removed a specific category of size can of coffee, that isn't widely available anymore.
Out with the family size, in with the sharing size.
Posted on 5/16/24 at 8:09 am to slackster
quote:
The rate of change is what the Fed targets, and that has objectively gotten much better in the past two years.
Objectively better than 9% on an ever changing basket of goods?
Sure. That's objective, I guess.
Posted on 5/16/24 at 8:18 am to Bard
Add the consumer into that mix as well. Consumers are still deeply in debt and constantly creating more while draining their savings, all while real wages are falling behind.
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Consumer debt is trending the wrong way, but real wages has been holding up. I assume we are talking this year, not 2 years ago.
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Consumer debt is trending the wrong way, but real wages has been holding up. I assume we are talking this year, not 2 years ago.
Posted on 5/16/24 at 11:52 am to KWL85
quote:
but real wages has been holding up
Not this year.
BLS for April 2024
quote:
Real average hourly earnings for all employees decreased 0.2 percent from March to April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.
There's the mention that it's actually up .5% YoY, but the visualization tells a more clear story: real wages topped out in January and then dropped almost every month thus far this year (it hasn't risen any month thus far this year).
This post was edited on 5/16/24 at 11:53 am
Posted on 5/16/24 at 12:16 pm to meansonny
quote:Yes. The current inflation rate is vastly lower than 9%.
Objectively better than 9% on an ever changing basket of goods?
This post was edited on 5/16/24 at 6:07 pm
Posted on 5/16/24 at 12:17 pm to Bard
I haven't read through the wage data but, if the reports of employers cutting hours are accurate, then it would be surprising if employee earnings weren't reduced.
Posted on 5/16/24 at 2:43 pm to molsusports
quote:
I haven't read through the wage data but, if the reports of employers cutting hours are accurate, then it would be surprising if employee earnings weren't reduced.
MoM:
quote:
Real average weekly earnings decreased 0.4 percent over the month due to the change in real average hourly earnings combined with a 0.3-percent decrease in the average workweek.
YoY:
quote:
Real average hourly earnings increased 0.5 percent, seasonally adjusted, from April 2023 to April 2024. The change in real average hourly earnings combined with no change in the average workweek resulted in a 0.5-percent increase in real average weekly earnings over this period.
Again, the caveat here with YoY is that all the increase happened in 2023. There's been absolutely no increase thus far for 2024.
This post was edited on 5/16/24 at 2:44 pm
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