Inflation climbed 8.5% in July as prices cool but remain near record high

https://www.foxbusiness.com/economy/inflation-climbed-july-prices-cool-remain-near-record-high

HYPERLINK has full article

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The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.5% in July from a year ago,

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time to celebrate. Your stuff is only rising by 8.5%

Good grief, 8.5%

And what are Democrat politicians doing? Still conducting a Trump witch hunt and then passing a large govt spending bill. Utter craziness that anyone voted Democrat

What a train wreck

 

That is the annualized rate
Month over month the rate was 0% which beat expectations

Let’s go Brandon!

 

8.5%!!!! Wow, just wow! Democrats need to be voted out of office. They are destroying the economy.

 

They are destroying the economy by getting inflation under control after we saw the largest monetary injections in US history which has been directly linked to this bout of inflation?



Guess under which administration that happened?

0% increase is pretty good vs what was expected. They still have plenty red damage to repair. Fuel prices are stabilizing after team red worked to cut oil production, baby formula is coming back in stock after the failed trade agreements.

 

Sorry but Biden owns inflation.

 

refer to the chart in post #5

Democrat voters own this debacle. They injured the country by voting for full Democrat control

 

Only a fool would say that the prior administration’s policy had zero impact going into the next term.

Those graphs might work on your base but thankfully there are enough voters that understand basic economics to see there is nuance missing.

 

uh huh, you are correct. THe regular folk know that there was full Democrat control in Jan 2021

 

About how long do you believe federal policy takes to impact the larger economy, on average?

 

Is that supposed to give the Biden administration license to continue it as he did with his first totally unnecessary stimulus and as he wants to do now with his HUGE spending plans?

Primarily due to gas prices softening a little but are expected to go back up. Food and house are still increasing. And 8.5% is STILL horrible and Biden is doing nothing about it but trying to make it worse.

 

Why do you feel gas prices will go back up? OPEC is increasing oil production each month, domestic supply is also trending up.

Housing is not increasing, prices are stagnant in many markets

Analysts believe tax increases will absolutely impact inflation. Again, 0% show we are on the tail end of this. It took a while from the massive monetary injections from the previous administration to work their way through the system.

 

Inflation climbed 8.5% in July as prices cool but remain near record high



“And when it comes to the gas prices, we're going through an incredible transition that is taking place that, God willing, when it's over, we'll be stronger and the world will be stronger and less reliant on fossil fuels when this is over.”

“I don’t want to hear any more of these lies about reckless spending. We’re changing people’s lives!"

-- Joe Biden

All is going according to plan. This is what Democrats offered. This is what their supporters voted for.

In equally unexpected and surprising news, the sun will set in the West this evening....

 

Gas and groceries (specifically meat) are nearly doubled, and that is now, after it has come down some. I don't care what some BS chart or politician says. I track all my spending in excel and have for years, I know where my money is being spent. Endless COVID restrictions, insane climate policy, and out of control spending (by both admins) owns this mess. And don't even get started on housing, I have seen homes go from about 140/sq ft to over 300 in my area. Anyone priced a 2x4 lately? 8.5% my a#% ...

 

umm, sworn in, EO's signed targeting fossil fuels, gas prices rising and inflation began within 1-2 months after that. I've posted the fuel price chart many times yet you choose to ignore it. I wonder why............................

Democrat votes did this to the nation

 

love your tag line.

 

When the shoe fits...

 

Strange that the fuel prices have closely mirrored that of OPEC production. The one you choose to ignore. Not to mention the supply vs demand charts that you have also blown past.

What EO do you believe caused a global shortage of oil?

 

what happened in 2021? Oh yes, full Democrat control. Look at that nice rise

 

Ignore how it was rising in 2020. Strange how quick you are to gloss over that

You also blew past my question
Care to try again?

Name the EO

 

Why should Americans care about global shortages when we have the capability to produce our own until Brandon comes along?

 

Do you believe that oil drilled in the US stays in the US? Domestic oil production is also up from when Biden was inaugurated

 

See the problem yet? Domestic oil shipped to China.

 

So you want to tell private companies they must keep oil in the nation?

 

Democrats have no problem with this back in the days? So why now?
https://pelosi.house.gov/news/press...ndment-to-block-chinese-bid-to-acquire-unocal

 

I completely agree we should — I didn’t ask them though, I asked you.