Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

bls.gov

Post reply on HN
Print view View original

271–280 of 566 posts

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

#271

Post by whimsicalism »

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.

Wealth and income expectations play into current savings.

I expect my savings to go up by $20k thanks to this, so I will shift some of my current savings to spending.

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

#272

Post by mgkimsal »

hanoz wrote: post #155
onion2k wrote: post #131

Earlier quoted context omitted.

Or clearer still "The increase is smaller than expected."

That this month's rate is smaller than expected is a completely different thing to it being smaller than last month's rate.

It seems both are true in this case, but yeah, those two statements don't really mean the same thing.

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

#273

Post by dcow »

rflrob wrote: post #245
cwilby wrote: post #195

Earlier quoted context omitted.

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”.

But they have risen since last year. YoY they are still rising.

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

#274

Post by javchz »

trashface wrote: post #260
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 pretty low income ATM and I simply don't buy Coke zero or anything like that much anymore. I drink water, or tea. Loose tea is still pretty economical, even considering water and heating costs.

Yeah, coke can get expensive. I recommend you try cold brew tea, it's almost as refreshing as soda in hot days. You only leave water with tea in the refrigerator at night and enjoy it the next day.

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

#275

Post by andsoitis »

dcow wrote: post #228
moron4hire wrote: post #209

Earlier quoted context omitted.

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.

But they’re citing a survey where people literally didn’t get it. That, if not made up, factually supports the claim that some people really do think 1/3 is less than 1/4. I really liked the 1/3 pound “thickburgers”. I don’t think it was just some dying chain trying to spread rumors about how stupid people didn't understand their marketing and that’s why they “died” (they’re still very much alive last I checked).

> But they’re citing a survey

Then it should be possible to point to said survey…

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

#276

Post by RC_ITR »

eatsyourtacos wrote: post #262
danuker wrote: post #187

Earlier quoted context omitted.

Store brands have very little advertising costs, for one. Coke spent $4B on advertising in 2021 [0], which is about a quarter of their costs. [1] [0] - https://statstic.com/coca-cola-advertising-costs/ [1] - https://www.macrotrends.net/stocks/charts/KO/cocacola/cost-g...

I guess I must be wrong, but I'll never understand why Coke needs that much advertising. Or anything "that well known". The argument is maybe they are that well known because of advertising, but I just don't think that's the case. Maybe for a crappy product, but not a good product. With Coke it's the quality (and consistency) of the product. I've never tasted anything "as good" as Coke. A new fresh cold can has a bit…

Coke’s advertising isn’t “hey this is what Coke is” it’s “hey aren’t you thirsty and don’t you remember how much fun you’ve had in the past while drinking Coke?”

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

#277

Post by aaomidi »

whimsicalism wrote: post #257
aaomidi wrote: post #198

Earlier quoted context omitted.

One thing we can do is give the NLRB actual teeth to enforce its laws.

I agree that that would be a good thing, but it won't lower consumer prices.

It would create more competition, and put more money into people’s pockets.

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

#278

Post by hristov »

vsareto wrote: post #151
hristov wrote: post #123

Earlier quoted context omitted.

Then buy generic. This is one way to fight inflation. Coke will get the message very quickly if their sales start coming down.

If you drink neither and choose water, then it'll really come down. Bonus: you'll feel better

That's what I do. But I did not want to get too preachy towards the GP poster.

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

#279

Post by unethical_ban »

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.

Sigh.

The YoY is useful for businessmen and economists.

People aren't checking their statements for milk prices from Nov 2021 right now. They just know "man it jumped up".

The point is that the everyday person cares about jumps and trends, and hearing "20% YoY increase" for 12 months is misleading to someone not thinking about it in economists' terms.

The fact a bunch of people here are debating what it means and how to interpret it proves my point.

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

#280

Post by hristov »

ragazzina wrote: post #152
hristov wrote: post #123

Earlier quoted context omitted.

Then buy generic. This is one way to fight inflation. Coke will get the message very quickly if their sales start coming down.

If GP comment is right, and the price of Coke has really increased 100%, the sales would have to decrease by half before they were hurt in the profits.

Yeah, but those companies tend to track market share too. They certainly do not want to give generic brands too much air to grow in.
Post reply on HN