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

bls.gov

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

#301

Post by danielmarkbruce »

dcow wrote: post #265
giantg2 wrote: post #226

Earlier quoted context omitted.

Ah, so not mismatched prices/goods, but mismatched temporally.

Which is still stupid to even be arguing about. It’s like people are trying to find a problem with data that is objectively reported by arguing that if you change the x axis you get an entirely different conclusion. No shit… that’s how data works.

No one is suggesting there is a problem with the data. They are discussing how best to interpret it.

And nobody is suggesting changing the x-axis. It's still time. The distinction people are making is which points does one use to calculate the slope? The most recent two? The most recent one and the one from a year ago? What are the implications of each?

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

#302

Post by zuminator »

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“

Pay off to whom?

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

#303

Post by nobody9999 »

shrimp_emoji wrote: post #239
nonameiguess wrote: post #215

Earlier quoted context omitted.

If you buy from Whole Foods and have Amazon Prime, your receipts are in your order history forever. It's actually been informative, because amidst all of the breathlessness from the past two years, every time I have bothered to check, most of the prices I'm paying haven't gone up at all or have gone up a tiny bit. I buy almost all raw ingredients and cook from scratch, which maybe just works differently than processe…

> My grocery bills overall have definitely gone up, but that's because I stopped eating out and buy a lot more groceries. Wouldn't this make your bills go down?

>>My grocery bills overall have definitely gone up, but that's because I stopped eating out and buy a lot more groceries.

>Wouldn't this make your bills go down?

I'd imagine that when GP "eats out," they don't do so at the grocery store/supermarket. I know I don't. Usually I'll go to a restaurant.

Which may make my overall food bills go up, but it certainly doesn't increase my grocery bills.

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

#305

Post by hankchinaski »

ionwake wrote: post #263

In many European countries inflation is at 15% If it reaches 20% that means every 3.5 years your cash reserve loses half its value Mean someone correct me if I’m wrong I think that is astounding

assuming that the inflation rate remains the same for the next 3.5 years. Which seems unlikely

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

#306

Post by mrguyorama »

shrimp_emoji wrote: post #239
nonameiguess wrote: post #215

Earlier quoted context omitted.

If you buy from Whole Foods and have Amazon Prime, your receipts are in your order history forever. It's actually been informative, because amidst all of the breathlessness from the past two years, every time I have bothered to check, most of the prices I'm paying haven't gone up at all or have gone up a tiny bit. I buy almost all raw ingredients and cook from scratch, which maybe just works differently than processe…

> My grocery bills overall have definitely gone up, but that's because I stopped eating out and buy a lot more groceries. Wouldn't this make your bills go down?

Not if you budgeted takeout in a separate category.

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

#308

Post by mrguyorama »

isusmelj wrote: post #40

The way I read it the price of things like eggs increased by 43% (on table 6 which is seasonally adjusted it's still 10%)? Does anyone know why?

Our local egg prices in Maine doubled, supposedly because we got hit bad with bird flu and had to cull a lot.

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

#309

Post by sicp-enjoyer »

barbecue_sauce wrote: post #294
dlp211 wrote: post #248

Earlier quoted context omitted.

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.

Not to mention suppliers and retailers increasing profit margins surreptitiously under the guise of "inflation".

That's just how inflation works. The supply side is always trying to charge the highest price they can, when they can do it successfully that means people have more dollars or more demand to throw at those items.

In a non-inflationary period increasing prices will be met with less demand.

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

#310

Post by hatware »

kentm wrote: post #233
hatware wrote: post #207

Earlier quoted context omitted.

Quoted post unavailable.

That’s not confirmation bias in the slightest. It’s taking a claim and making observations and then noting that the observations don’t match the claims.

They started by attacking the source, I'm not sure why you're acting as if that isn't the case.
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