After January’s surprised upside shift, expectations have been adjusted up over the last month for another sizable MoM move in headline CPI. But that was not enough as the 0.4% MoM rise in the headline (as expected – highest since August) lifted CPI YoY up to +3.2% (hotter than the 3.1% exp)…
Source: Bloomberg
Core CPI rose 0.4% MoM (hotter than the +0.3% exp) and up 3.8% YoY (hotter than the +3.7% exp), but still the lowest since April 2021…
Source: Bloomberg
Goods deflation continues (-0.3% YoY) but has flattened out, while services inflation remains stubbornly high at +5.2% YoY…
Source: Bloomberg
And one step deeper – the so-called SuperCore: Core CPI Services Ex-Shelter index – soared 0.5% MoM up to 4.5% YoY – the hottest since May 2023…
Source: Bloomberg
Finally, we note that consumer prices have not fallen in a single month since President Biden’s term began (July 2022 was the closest with ‘unchanged’), which leaves overall prices up 19% since Bidenomics was unleashed. And prices have never been more expensive…
Source: Bloomberg
That is an average of 5.6% per annum (more than triple the 1.9% average per annum rise in price during President Trump’s term).
So, about that shrinkflation – did companies only ‘get greedy’ when Biden took office?
But it gets worse, real wage growth has lagged significantly for the average joe in America…
Source: Bloomberg
Food costs are up over 21% since Biden’s term began, but non-supervisory wages are up only 18%.
Bidenomics for the win!
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
All the stats on the economy out of the federal government are lies. Unemployment and inflation are much higher than they admit and GDP much lower. The stats bureaus have always lied but it’s much worse under Biden as evidenced by the vast readjustments in data months later when no one is looking. With the federal election in the offing the data are becoming laughable. Why anyone pays attention to these monthly reports is a mystery to me.
So they can point at the good news and sell more STAWKS!
It doesn’t matter that its fake. Just that it is official. It’s all DraftKings and FanDuel.
To make money you gotta play the game. Thats what they need us to believe. That the System is the only way, not how well the stats are lashed to reality.
The only reality that matters is making money. Getting your something from the Great Nothing.
Place your bets. Its march madness, good citizen.
Greetings Professor Falken. Interesting game.
The only winning move is not to play.
The one that always makes me shake my head is when the unemployment numbers come out. Multiple times over the past couple of years the market analysts have said “63% of eligible workers are working. Unemployment remains at 3.7%.”
And a whole lot of uneducated Americans fall for it.
Common Core math at it’s finest.
1+1 = racism!
Something is wrong with your statistics somewhere. Get out in the real world.
Grocery prices have DOUBLED in three years.
So have gas prices.
I don’t know where you guys are getting 19%, but that’s laughable. Literally everything my household buys costs twice what it used to, or more
From da gubbermint. It’s official, dontcha know. Why would they lie?
The measurement of inflation assumes you change to cheaper products and that new stuff is better than old so the effective cost is lower.
If they measured the way they did decades ago inflation would be 2x.
And that the 12 0z, 4 serving package that is only 20% higher than the 16 oz, 4 serving package is only a 20% increase in cost.
So, will the FED cut rates, raise rates, or hold until the election? None of which will help things, just different scenarios.
The Fed is notorious for overreacting, too late and for too long.
The fed exists to rob from the goyims.
They will hold rates until late September or early October, then cut them to try and make the current Administrations policies look better before the November election. They certainly don’t want to cut them to soon, fire up the economy and see the bubble burst before the election.
Nobody is giving Trump bad advice. Trump is evil. Trump is every bit as evil as every D.C. creature.
So you are a Biden supporter?
My friends laughed at me when I said there would be another rate hike in 2024 (i made this prediction around 4 months ago). Everything is indicating another rate hike is now possible and necessary. Probably won’t happen for political reasons but I don’t think it’s laughable today to say the fed might hike again.
My water and gas bills DOUBLED last year alone.
Food prices are through the roof. While I hope that inflation comes down, I am preparing for hyperinflation in the next couple of years.