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

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

#241

Post by giantg2 »

moron4hire wrote: post #209
giantg2 wrote: post #174

Earlier quoted context omitted.

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.

I don't know anything about this particular one, but just because it's a case study in a textbook doesn't mean it's true. There are lots of untruths that get propagated long after they've been debunked.

Sure, but there's nothing presented to debunk this so far. So far all the "testimony" shows it to be true, but it could be propaganda.

The larger point is that it does demonstrate what the actual data shows - that the US has a sizable portion not good at math/fractions or finance.

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

#242

Post by staticman2 »

hnburnsy wrote: post #94

Anyone notice that brand name soda (looking at you Coke) has increased almost 100% while the generic/house brand has had slight increases. I feel like Coke is testing the pricing limits of its customers especially with the smaller packaging and these prices will not come back down.

I'm surprised to hear house brand cola still exists. My local Giant supermarket no longer ever has any in stock.

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

#243

Post by flavius29663 »

dalyons wrote: post #203
flavius29663 wrote: post #149

Earlier quoted context omitted.

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.

Energy and food prices are global, regardless of who trades with who. Try to be less nakedly partisan.

But again, Russia is a small fish in the world economy, the US+EU have a combined GDP of 40 trillion dollars, you cannot say that waging economic war against a 1.7 trillion economy is causing such damage.

Like you said, the Russians still sell energy and food worldwide, even if Europe and US buy less (or at all), so I don't buy this explanation.

> Try to be less nakedly partisan

This is a talking point from DNC, I was trying to show how flawed it is. If that makes me partisan, fine. It means we're ready to swallow any bullshit that comes from the party/government, as long as it makes us feel good.

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

#244

Post by del_del »

ceejayoz wrote: post #65
phpisthebest wrote: post #51

Earlier quoted context omitted.

There was no Anti-Inflation Act, there was a spending... SPENDING bill they claimed would lower inflation because it also included a very limited amount of deficit reduction which 1 week later they had spent like 3 times on new programs including the Student Loan Cancellation which reversed any inflation reduction the original bill could have had (which was nill in the first place)

How did student loan cancellation reverse inflation reduction when it's on hold due to legal challenges? No one has received a penny.

It seems like a logical consequence of the Permanent Income Hypothesis. If you expect your disposable income to rise by 500$ per month you'll spend more money this month, even though your disposable income hasn't risen yet.

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

#245

Post by rflrob »

cwilby wrote: post #195
joshuahedlund wrote: post #173

Earlier quoted context omitted.

That depends on how noisy or smooth the changes are. That's why it's valuable to look at both.

That literally leads to the conclusion that prices rose, in your example.

The conclusion that “prices rose” is the correct one. What you should not conclude, even though the inflation has been at 20% all year is that “prices are (still) rising”.

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

#246

Post by fakethenews2022 »

fakethenews2022 wrote: post #232
lunaru wrote: post #31

It bears repeating because this is a common mistake in inflation discussions: a decrease in inflation metrics means price increases are slowing down, it doesn’t mean that prices are going down （that would require a negative CPI print). Also, this number is year over year, so the decrease just means the price increases between Oct 21 and Oct 22 are not as steep as between Sept 21 to Sept 22, which is not hard to achie…

Many words for something that can be explained by a single cumulative CPI graph.

Of course it probably needs a second graph under it of 2% cumulative CPI for comparison.

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

#247

Post by ncallaway »

dcow wrote: post #206
danielmarkbruce wrote: post #185

Earlier quoted context omitted.

It may be - but to the above poster's point - if gas went up 20% in Jan of this year and then stays flat... is it helpful to think of prices as "going up" ? It seems misleading.

If the last time you looked was last year, then yeah. They went up this year. What’s misleading about reporting yearly percentage increases in prices? I’m baffled.

I don’t think anyone was saying it was misleading, rather they were pointing at a nuance of the data.

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

#248

Post by dlp211 »

Jerrrry wrote: post #205
jklinger410 wrote: post #180

Earlier quoted context omitted.

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

Please explain how literally directly increasing the M1 money supply doesn't cause inflation. Everyone got money for free. Things that are free, tend to have less value.

The myth is that inflation was caused primarily by this. It wasn't. Inflation is being driven by a combination of factors, the biggest being supply chain and war in Europe.

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

#249

Post by dlp211 »

tomcam wrote: post #213
Jerrrry wrote: post #205

Earlier quoted context omitted.

Please explain how literally directly increasing the M1 money supply doesn't cause inflation. Everyone got money for free. Things that are free, tend to have less value.

And by “free” we mean “added to the gigantic mountain of debt our children must pay off“

This is not how the national debt works.

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

#250

Post by bushbaba »

BuyMyBitcoins wrote: post #30
danuker wrote: post #2

Finally the mania is slowing down. It seems the rate hikes and layoffs are working.

I feel like a .2 percentage point drop is near imperceptible and something easily subject to reversal. I don’t think we’re anywhere near an actual slowdown to inflation yet.

(1-.4/.6) represents the actual percentage change. Actual CPI came in 33% lower than expected. Huge miss by the “experts”.
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