U.S. annual inflation rate drops to 8.5% • Hacker News Board

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

#121

Post by roflyear » Wed, Aug 10, 2022, 1:36 PM UTC

wil421 wrote: post #93

roflyear wrote: post #51

Earlier quoted context omitted.

Quoted post unavailable.

It’s costs me about $100-$160 a month in the winter for gas to heat my home in the Deep South. My area is upgrading gas lines and now the base surcharge is $35. However that’s not a forever charge. My price per therm has more than doubled when I renewed this year. That won’t mean my bill doubled as there about $40 or so in fixed costs before gas use is accounted for. Edited winter numbers above: December: $100 Januar…

How big is your house? That is an insane price to pay. I owned a home in vermont and heated with gas and paid around that.

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

#122

Post by devin » Wed, Aug 10, 2022, 1:36 PM UTC

gambiting wrote: post #102

post_break wrote: post #36

Good news I guess. But my electricity price literally doubled. My house insurance is up 30%. My gas bill is up by a lot. Have you seen the price of oreos? The $5 box at Taco Bell is my splurge and I'm trying to cut back on everything I can.

My gas(for heating, not petrol) has literally just gone up 600%. You look at these numbers posted in the media and you think "what are they on about? What 8.5%?".

From what to what? I don't know if you're talking about a 600% increase of a tiny number or what.

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

#123

Post by sbradford26 » Wed, Aug 10, 2022, 1:37 PM UTC

ones_and_zeros wrote: post #88

Dork1234 wrote: post #60

Earlier quoted context omitted.

Heat pumps are 2 to 4 times more efficient, and if you are in MA you can get upto a $10,000 rebate and 0% loan when purchasing a heatpump. Why would you stick with oil heat? Even if it drops to $2 it will be much cheaper to have a heatpump.

In MA you are paying through the nose on labor to install though. That rebate evaporates pretty quickly, still a 5 figure job.

I am in southern NH and recently went to a cold weather heat pump system. We had an oil boiler before hand so I had all new duct work added in the basement with an air handler and 3 mini split heads in the rooms upstairs.

I got quotes for mitsubishi systems ranging from 31k to 39K. Ended up going with an LG Red system for 19k. I then installed an heat pump water heat myself so am now fully off of heating oil and it is great.

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

#124

Post by trident5000 » Wed, Aug 10, 2022, 1:37 PM UTC

brianmcc wrote: post #13

Good. Now we can look forward to interest rate cuts to deal with the recession...

We bottomed out at 0% and have obvious bubbles even now. It would be really dumb to do that but I'm not saying they wont.

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

#125

Post by rhexs » Wed, Aug 10, 2022, 1:37 PM UTC

We did it! Let's drop interest rates back to 0, housing markets are looking a bit shaky.

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

#126

Post by vinyl7 » Wed, Aug 10, 2022, 1:38 PM UTC

malfist wrote: post #82

vinyl7 wrote: post #19

Earlier quoted context omitted.

I hope not, I'm tired of this bubbly fake economy of the past decade. Massive misallocation of capital into pointless unprofitable tech companies

Yes, I hate seeing my 401K grow too. Let's have a recession, it'll be fun!

Is it really growing if it's a fake overstimulated economy?

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

#127

Post by rajamaka » Wed, Aug 10, 2022, 1:38 PM UTC

malfist wrote: post #82

vinyl7 wrote: post #19

Earlier quoted context omitted.

I hope not, I'm tired of this bubbly fake economy of the past decade. Massive misallocation of capital into pointless unprofitable tech companies

Yes, I hate seeing my 401K grow too. Let's have a recession, it'll be fun!

If it means not kicking the ball down to my children's generation, so be it.

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

#128

Post by roflyear » Wed, Aug 10, 2022, 1:38 PM UTC

krzyk wrote: post #114

post_break wrote: post #92

Earlier quoted context omitted.

My previous plan was 8c per kWh, it's now 16c per kWh. I live in Texas where you shop for rates. Before you're quick to crap on comments give a little benefit of the doubt.

I wonder, is solar popular in Texas? From my vague memories it is quite sunny there.

[flagged]

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

#129

Post by brianwawok » Wed, Aug 10, 2022, 1:38 PM UTC

post_break wrote: post #105

chrisjc wrote: post #86

Earlier quoted context omitted.

> My house insurance is up 30% Everything seems to be going up, but interesting that you brought home insurance up? Any particular reason why you mention it? I guess if house prices and building material and labor costs are increasing, it makes sense that insurance would too. (Although I'm sure if everything dropped, insurance would remain the same)

Because it stings. 2019 I paid $1400 for insurance for my home, this past June I paid $2200. Same home, no massive improvements, just pay more.

Did you shop it?

Many house insurance companies give you a 10-50% new client discount, that slowly goes away year by year. The only choice is to jump ships every few years.

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

#130

Post by moistofreason » Wed, Aug 10, 2022, 1:38 PM UTC

curiousllama wrote: post #68

jollyllama wrote: post #52

Earlier quoted context omitted.

So they ought to keep hiking it then, if that's truly the goal.

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.