US annual inflation declines to 7.7% in October vs. 7.9% expected

Post by benjaminwootton » Thu, Nov 10, 2022, 3:17 PM UTC

wkrsz wrote: post #196

Why is this causing USD/EUR exchange rate to fall? And in general USD to lose value compared to other currencies. My guess is that expectation of higher inflation was combined with expectation of further interest rate increases to combat it. Interest rate increases generally make currency more attractive for investments from abroad, which increases exchange rate. This expectation was "priced in" current exchanged rat…

Post by dalyons » Thu, Nov 10, 2022, 3:18 PM UTC

flavius29663 wrote: post #149

Zigurd wrote: post #120

Several commenters have provided various reasons year-over-year numbers are, to put it mildly, difficult to interpret. Another reason is that a major war in Europe started within this year, adding to the difficulty of Y0Y comparisons. The principal weapon deployed against the aggressor is economic warfare to collapse Russia's economy. That has only recently made an impact that can't be denied in Russia. Meanwhile, th…

You can't blame US inflation on the Russia war, this is a DNC misdirection. For the US at least, it should be a minor factor. The US were trading very little with Russia to begin with, even before the war. Russia's economy before the war was still smaller than California, New York or Texas. Waging economic warfare on a medium economy like that should not wreak the US, Europe or the World economies.

Post by Jerrrry » Thu, Nov 10, 2022, 3:19 PM UTC

jklinger410 wrote: post #180

nivenkos wrote: post #26

The US has it easy, since the inflation was largely caused by lockdown stimulus, and also benefits from being the global reserve currency so it can leverage cheap imports as the interest rate rises increase the value of USD. I wouldn't be surprised if it's better in a few months, especially with the growing protectionism in the anti-inflation act, etc. and acts against Chinese competition, etc. keeping more industry…

> since the inflation was largely caused by lockdown stimulus This is a widely disproved myth.

Post by hatware » Thu, Nov 10, 2022, 3:20 PM UTC

MagnumOpus wrote: post #202

orangepurple wrote: post #140

Quoted post unavailable.

Shadowstats is bullshit for a number of reasons - you can read up on most of them on the official articles and publications and justifications on the BLS website -- which are generally written by statisticians with maths or econ PhDs with no vested political interest, unlike Shadowstats which is written by an MBA who needs to sell a newsletter. But you can very easily debunk Shadowstats by just averaging the ridiculo…

Post by moron4hire » Thu, Nov 10, 2022, 3:21 PM UTC

giantg2 wrote: post #174

dsfyu404ed wrote: post #150

Earlier quoted context omitted.

>Many Americans are illiterate on numbers and the economy too Many more pretend to be less literate than they are for ideological reasons. >still remember the classic example that a burger chain released a 1/3 pound burger to compete with another chain's 1/4 pound burger, and many people thought the 1/4 pound was bigger. This trope needs to be taken out back and shot. It wasn't that people didn't get it. It's that it…

There's certainly more than just the number confusion, but I specifically remember the case study we were looking at included a survey where a sizeable number of respondents said 1/4 was bigger than 1/3.