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U.S. annual inflation rate drops to 8.5%

bls.gov

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Re: U.S. annual inflation rate drops to 8.5%

#821

Post by NotTameAntelope »

randomdata wrote: post #813
NotTameAntelope wrote: post #810

Earlier quoted context omitted.

Quoted post unavailable.

What is it that you thought? Your comment is unclear. That you, deep down, knew your appeal to emotion would fail? Being from the West, my uneducated, tribalist-driven opinion says that Russia is not justified. But, again, not my area of expertise and not a subject I have much interest in. I do, however, enjoy the subject of language which is why I am participating in this conversation about the use of language. Let'…

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Re: U.S. annual inflation rate drops to 8.5%

#822

Post by nradov »

goodpoint wrote: post #812
BitwiseFool wrote: post #762

Earlier quoted context omitted.

I don't think this figure is accurate, but even so this isn't something I would want to accept - regardless of a convincing calculation that it is a net benefit.

Just an example: https://www.nerdwallet.com/article/loans/auto-loans/total-co... "For vehicles driven 15,000 miles a year, average car ownership costs were $9,666 a year, or $806 a month, in 2021, according to AAA" VS https://bicycleuniverse.com/how-much-does-a-bike-cost/ So the figure is accurate.

So what? The costs are kind of meaningless when you walk out of the grocery store with a cart full of frozen food, only to find your bike was stolen. Normal people aren't willing to tolerate that level of hassle and uncertainty just for the possibility of some minor cost savings.

Re: U.S. annual inflation rate drops to 8.5%

#823

Post by jjcon »

setuids wrote: post #674
jjcon wrote: post #526

Earlier quoted context omitted.

Would that be third derivative or just second? My brain doesn’t want to parse that

It would be the 3rd derivative. Inflation is the first (rate of change of prices). The increase of Inflation is the second (rate of change of inflation). Therefore the decrease of the increase of inflation is the third

Oh that makes sense, inflation being first deriv is what I wasn’t catching. Thank you.

Re: U.S. annual inflation rate drops to 8.5%

#824

Post by [deleted] »

s1artibartfast wrote: post #816
sanderjd wrote: post #814

Earlier quoted context omitted.

I tend to think the NBER definition is a good one: "a significant decline in economic activity that is spread across the economy and that lasts more than a few months"[0]. It is not at all clear that we are already there. The reason employment matters is that it is difficult for businesses to hire if there is a widespread and durable decline in economic activity. [0]: https://www.nber.org/business-cycle-dating-proced…

I think that is a terrible definition. What is "economic activity" ? There was an awful lot of activity on the Titanic when it was sinking. In the same vein, more people working, but making less, and producing less is not a growing economy

[deleted]

Re: U.S. annual inflation rate drops to 8.5%

#825

Post by inawarminister »

thrashh wrote: post #707
Gareth321 wrote: post #652

Earlier quoted context omitted.

Yes but now you don't get to eat bacon and you're eating tofu bacon instead. You're still alive, but are you really living ? More seriously, that quality of life decrease is now completely ignored. I think it's worth acknowledging that it's happening.

Yeah but so much of happiness is relative and pure mindset. If you never knew about bacon or forgot about it, you would be just as happy. And at the end of the day, it’s more important to be happy

You will own nothing. And you will be happy.

- a popular quote in the internet

Re: U.S. annual inflation rate drops to 8.5%

#826

Post by doubleunplussed »

s1artibartfast wrote: post #694
sacred_numbers wrote: post #563

Earlier quoted context omitted.

Price levels actually did drop compared to June. If anything I bet people are more likely to interpret this incorrectly by believing that prices are still rising compared to last month, just at a lower rate. They are not, it's just that with a n indicator that compares current price levels to price levels a year ago it takes a while for the rate to come down, even if prices stay still or slightly decrease.

Did prices actually drop or did they just go up more slowly? 8.5% is still a price increase

8.5% is the year-on-year figure. The month-on-month figure was 0.0%, so prices neither grew nor fell on average in July.

Re: U.S. annual inflation rate drops to 8.5%

#827

Post by bamboozled »

cjrp wrote: post #491
deanmoriarty wrote: post #369

Earlier quoted context omitted.

No? In the US a residential mortgage is almost always fixed rate, locked in for the entire term (i.e. 30 years). So it can basically never go up, just down if the opportunity arises and you can willingly refinance your loan as interest rates drop.

That's interesting, in the UK it's generally fixed for 2/3/5 years but then reverts to a pretty lousy rate (unless you remortgage to another fix). If you're lucky you fixed just before this all started, and won't have to remortgage for another few years when rates might be dropping again.

I believe Australia is the same.

Re: U.S. annual inflation rate drops to 8.5%

#828

Post by wbsss4412 »

moistofreason wrote: post #130
curiousllama wrote: post #68

Earlier quoted context omitted.

More complicated. Inflation expectations, supply chain fixes, fiscal policy, data/reporting lag, etc all play in too. If it's declining, let it decline. Fed can only influence, not dictate, inflation.

They can, and have been, printing money like there is no tomorrow… they are literally the only body that can inflate the USD.

They stopped printing money last year and have been actively contracting the money supply for several months.

Re: U.S. annual inflation rate drops to 8.5%

#829

Post by pojzon »

wil421 wrote: post #356
pojzon wrote: post #237

Earlier quoted context omitted.

To make you feel a little bit better: For similar size house in energy-efficient building tech we pay around 300$ per winter month for heating. And its “cheap” because house is well isolated. (EU)

Yes I do feel better. By energy efficient do you mean newer construction? I assume it wouldn’t be old stone construction (EU/UK old world stuff) that would be sucking up heat in winter.

Its a new building from 2020.

Thats how much prices went up in EU.

Re: U.S. annual inflation rate drops to 8.5%

#830

Post by nly »

AlwaysRock wrote: post #405
scottLobster wrote: post #266

Great. All I know is I'm trading a lot more time for money this year. Way less takeout, avoiding toll roads unless it saves at least 30 minutes, fewer streaming services (will renew on a show-by-show basis), and food is getting so crazy I might start going to multiple stores to try and save money instead of my one consolidated trip to Wegmans. I'm also stuffing my freezer with meat and have a year's supply of non-per…

So I know I can make 65 an hour with side jobs. I've got a few side gigs where I can set my own schedule and work those hours at any time. I could probably push higher if I wanted (75-100 an hour). When I need to pad my savings I cut some costs but mostly I just work extra hours in side gigs. I couldnt imagine its worth going to multiple grocery stores to compare prices. Shop at 1 store, pay more for some items, work…

Would you mind sharing some side hussle ideas?

C++ programmer by trade.

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