And in yet another flight of fantasy:
Consumer inflation the past 12 months has increased 6.0 percent, down from 6.4 percent a month ago—a 0.8 percent increase from Feb. 2022 just fell off the 12-month chart reading—according to the latest data compiled by the Bureau of Labor Statistics as the Federal Reserve continues to eye further rate hikes in order to tame what has been persistent inflation.
Uh huh. Six percent, hey?
A 2 percent decrease in gasoline and a 13.6 percent decrease in used cars and trucks was offset by a 9.2 percent increase in fuel oil and a 5.8 percent increase in new vehicles. There was a whopping 12.9 percent increase in electricity and a 14.3 percent increase in utility (piped) gas service, indicating continued high demand for energy services. There was a 9.5 percent increase in food, plus an 8.1 percent increase in shelter and a 14.6 percent increase in transportation services, plus a 3.3 percent increase in apparel, a 3.2 percent increase in medical care commodities and a 2.1 percent increase in medical care services.
Let’s not get blinded by these carefully-constructed lies, here. Gas prices went down for about two weeks, and then shot up again. Supermarkets have published reports about 30-, 40- and 50 percent increases in commodity items,
True inflation is running well into the double digits (high teens or more), and we consumers are being bent over the government’s desk and shafted without lube.
Enjoy your day.
” carefully-constructed lies”????
Nope, everybody now knows they are lies. My only remaining employee, a carpenter / handyman, not a worldly man, now derides everything he hears from any level of government. He particularly scorns Canadian government statements on cost of living increases – he’s not rich, he budgets carefully and he knows exactly how much prices are up.
Pre-covid he generally accepted government statements and mandates.
Now he openly and loudly disbelieves and is in open rebellion against the state’s petty diktats. For example, he used to dutifully put “recyclables” in a blue bin, “Organic waste” in a green bin and “landfill waste” in a black bin. He now intentionally puts stuff in the wrong bin and covers it up with a layer of correct waste on collection day.
Minor but good to see.
My Property tax up 28% in the past 3 years.
My Homeowners insurance up 61% in the past 3 years.
Most cities in NoVa have added an additional food tax of 4-6% on top of the sales tax.
My wife’s malpractice insurance up 36% this year and over 55% the past two years despite never having a claim.
Rent in NoVa is up over 28% in the past two years, which is keeping my work-from-home Bonus son #1 from leaving the nest. Bonus son #2 graduates in May and already has a job with the same firm as #1. You guessed it, it’s work from home too.
Sweet Meteor of Death…
What’s happening in your area is a direct consequence of Big Guv growing like the cancer it is. DC was authorized and originally laid out as a ten mile on the side square. It is now a 100 mile diameter circle, having spread outward from DC to Annapolis to the east, Loudon County to the west, Frederick MD to the north, and Fredericksburg VA to the south, and it is a self-driving growth as long as Federal employees have it over the private sector with better salaries, better medical, better leave, better employer savings programs, and the biggie that sucks in the Fed serfs and drones from far and wide, a retirement pension of 100% of one’s highest salary for forty years’ service, witha COLA. Where else can you do a drone job with salary COLAs and retire at age 48 with 100% salary, for doing nothing, WITH a COLA, for the next 20 years or so – yannow, the rest of your life?
Any wonder NOVA votes way, way majority Dem, year after year, no matter the idiocy of the candidates, as long as they have THE qualification? (D – your locale)
The *&#$ come-heres have turned Virginia blue with only maybe 10% of the area of the formerly solid red state.
Democracy*spit*, where you vote yourself riches from the public trough.
It’s criminal and can’t last. See Venezuela, Zimbabwe, Greece, Argentina
gasoline dipped a bit then came right back up. Fuel oil is still ridiculous high. Pellets for a pellet stove are at a record high since I got a pellet stove about ten years ago. Food prices especially meat are very high. The school budget proposal is for a 10% increase and I’m sure the town taxes will go up as well. I haven’t seen much come down in price since Pedo Joe took office.
I don’t believe the 6% number at all. this is from the ministry of propaganda and right out of Orwell’s “1984.” Time to make Orwell’s writings fiction again
JQ
For decades, they’ve limited the inflation calculations by not counting the items with the most volatile prices: energy and food, and maybe also housing. This lowers the COLA adjustments and Social inSecurity, etc. OTOH, it might have avoided a few negative COLA adjustments in those years when an oil glut and great harvests caused a dramatic drop in prices.
But right now, the Democrats seem to be aiming at a one-way ratchet, possibly until those who only have Social inSecurity starve to death and become reliable Democrat votes.
By the way, any time a Democrat supporter calls someone a “science denier”, blast them. _They_ are the science deniers. They deny Biology. They deny economics – it’s a soft science, but it’s more solid than climate change.
Ah it take me back to those halcyon days of Jimmy Carter, peanuts,
Fritz the Fleece ( Mondale ) and DOUBLE DIGIT INFLATION !!
As long as the presses keep printing money, as they did with Carter,
this is going to CONTINUE. It destroys EVERYTHING and there is very
little you can do as a hedge. So for AT LEAST 2 more YEARS we’re going
to have this inflationary buzz saw devaluing your savings, investments,
paycheck, standard of living and anything else you care to mention.
Read a little history about hyper inflation in other countries and its
effects.
This is exactly where we are headed if the presses aren’t stopped. Kinda
makes one wonder if that hasn’t been the goal since the day Biden was
‘installed’ No, I do NOT believe anywhere near 81 MILLION people voted for him any more than I believe the outcomes an increasing number of ‘elections’ in this country that keep obvious idiots, pushing insane policies, in office !
Getting this MESS under control is going to take MORE interest rate hikes
along with other steps that are going to be painful and slow – this is NOT
going to be repaired quickly. Think YEARS !
Strap in folks, it’s going to be a long and rough ride, And if the idiots in
charge aren’t replaced with some sanity, the ride will be even longer
and rougher than any of us can imagine ! Look at Venezuela for as ‘preview’ and if it comes to that WHO is going to or WHO is even capable of helping US ??
We cannot depend on assistance from others.
The actions we ourselves take is all we can rely upon.