Here are some N-year rolling total inflation charts to put this datapoint in a longer-term perspective: https://totalrealreturns.com/inflation . Zooming out always smooths the noise.
US Consumer Price Index up 4.2%
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Re: US Consumer Price Index up 4.2%
#22Regressive consumer tax due to tariffs?
That was months ago. These days it's more likely to be from the Iran war and the Strait of Hormuz being closed, and what that did to energy prices.
The Iran war is for sure a huge part of that (just look at the energy cost inflation!), but other elements are a factor too. "Months ago" is really not that long when it comes to inflation.
Re: US Consumer Price Index up 4.2%
#23The worst part of this report is my diminished faith in the numbers.
Re: US Consumer Price Index up 4.2%
#24All of the increase is from energy. Oil prices.
Per the link, food is up 3.1% and everything else 2.9%. So energy pulled inflation up from about 3% to about 4%, but that's not "all of the increase"
Energy going up drives evrything up, including food. Everything we do depends on energy in many different ways.
Re: US Consumer Price Index up 4.2%
#25Remember this next time you get your yearly review/raise. 4.2% is what you need to stay even, anything less is a pay cut.
Many people here make more than they spend, and this is simply inaccurate when that's the case. edit: I've explained how this works in a reply below.
I disagree. "Money" has many meanings, absolute and relative.
Receiving "market" compensation trumps real-world expenses, since the market for one's labor is a different market than the real-world expenses.
Re: US Consumer Price Index up 4.2%
#26Remember this next time you get your yearly review/raise. 4.2% is what you need to stay even, anything less is a pay cut.
Not necessarily, depends on the distribution of your own expenses. If you deviate from the average urban household (lets say, you have a particularly long commute or your car isn't as fuel efficient as the average. Look at the increase on fuel prices, 40.5%!). If you're at $5,000/month, a 4.2% raise puts you at $5,210. If you're spending $600/month on gas (not unreasonable for someone that drives an SUV and lives in…
Don’t forget the obvious ‘finger on the scale’ influence from the administration too.
Re: US Consumer Price Index up 4.2%
#27Remember this next time you get your yearly review/raise. 4.2% is what you need to stay even, anything less is a pay cut.
Also, any asset that isn’t appreciating at least 4.2% is losing value.
Ah…inflation.
Re: US Consumer Price Index up 4.2%
#28All of the increase is from energy. Oil prices.
For your interpretation:
All items: +0.5% monthly; +4.2% year-over-year.
Energy: +3.9% monthly; +23.5% year-over-year.
Gasoline: +7.0% monthly; +40.5% year-over-year.
Fuel oil: +58.9% year-over-year.
Electricity: +0.6% monthly; +5.9% year-over-year.
Utility natural gas: -0.5% monthly; +3.0% year-over-year.
Food overall: +0.2% monthly; +3.1% year-over-year.
Food at home / groceries: +0.1% monthly.
Food away from home / restaurants: +0.3% monthly.
Nonalcoholic beverages: +0.6% monthly.
Cereals and bakery products: +0.4% monthly.
Fruits and vegetables: +0.2% monthly.
Dairy: -0.6% monthly.
Meats, poultry, fish, and eggs: -0.2% monthly.
Core CPI / all items less food and energy: +0.2% monthly; +2.9% year-over-year.
Shelter overall: +0.3% monthly.
Rent: +0.4% monthly.
Owners’ equivalent rent: +0.3% monthly.
Lodging away from home: +0.4% monthly.
Communication: +1.3% monthly.
Airline fares: +2.7% monthly.
Personal care: +1.0% monthly.
Recreation: +0.3% monthly.
Apparel: +0.3% monthly.
Used cars and trucks: +0.1% monthly.
Medical care: +0.3% monthly.
Hospital services: +0.7% monthly.
Motor vehicle insurance: -1.7% monthly.
Household furnishings and operations: -0.6% monthly.
New vehicles: -0.3% monthly.
Prescription drugs: -0.9% monthly.
Re: US Consumer Price Index up 4.2%
#29Here are some N-year rolling total inflation charts to put this datapoint in a longer-term perspective: https://totalrealreturns.com/inflation . Zooming out always smooths the noise.
Simple, excellent data. Thanks.
Re: US Consumer Price Index up 4.2%
#30Earlier quoted context omitted.
Per the link, food is up 3.1% and everything else 2.9%. So energy pulled inflation up from about 3% to about 4%, but that's not "all of the increase"
Energy going up drives evrything up, including food. Everything we do depends on energy in many different ways.
It's possible for energy to be behind the rises in other cost, but the data presented here gives no evidence for or against that possibility.