The Biden Recession Thread

[Wally]

Key US inflation measure surges at fastest rate since June

WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year.

apnews.com

 

[Wally]

Bloomberg - Are you a robot?

 

[Babagounj]

Small Business Bankruptcies Reach Worrisome Level As Biden Touts Rising Business Formation | The Daily Wire

www.dailywire.com

 

[Babagounj]

Walmart lays off over 2,300 warehouse workers

Cuts have hit distribution centers in Texas and Pennsylvania, as information about the total impact of layoffs slowly trickles out.

www.retaildive.com

 

[Up In Smoke]

Grocery prices drop month over month for the first time since 2020. Wages are flattening also. The Fed may pause rate hikes if data continues to show slowing inflation.

 

[Thebrownblob]

Grocery prices drop month over month for the first time since 2020. Wages are flattening also. The Fed may pause rate hikes if data continues to show slowing inflation.

I wonder where the grocery prices dropped? Definitely not here.

 

[UnionStrong]

I wonder where the grocery prices dropped? Definitely not here.

They didn’t drop very much if at all.

 

[Thebrownblob]

They didn’t drop very much if at all.

Correct and gas was down for a little while because we drained our strategic oil reserves and now gas is back on the rise so it feels like we’re robbing Peter to pay Paul here

 

[Up In Smoke]

I was reading the CPI report and the grocery and wages surprised me also. They are national average numbers.

 

[Thebrownblob]

I was reading the CPI report and the grocery and wages surprised me also. They are national average numbers.

I heard some of that this morning on talk radio and it had me scratching my head. It feels like the government might be juggling numbers to make reports look better than they are but who knows I can only tell you where I’m at there definitely isn’t any relief from grocery prices and gas has shoot up almost $.40 in the last couple weeks

 

[Wally]

I noticed one brand of ice cream shrunk their container size to 1.45. It was 1.50. Getting less for the same price.

https://twitter.com/i/web/status/1646209380277157888

 

[PT Car Washer]

I heard some of that this morning on talk radio and it had me scratching my head. It feels like the government might be juggling numbers to make reports look better than they are but who knows I can only tell you where I’m at there definitely isn’t any relief from grocery prices and gas has shoot up almost $.40 in the last couple weeks

OPEC has tightened up oil supplies to raise prices.

 

[Thebrownblob]

Yeah, because they think Biden is a joke and they’re ready to get off the petrodollar. Great job.!!

OPEC has tightened up oil supplies to raise prices.

 

[over9five]

I get gas at Sams Club, price jumped 12 cents this week.

 

[Wally]

Did inflation drop or just slow down? Big difference between the two.

 

[UnionStrong]

I heard some of that this morning on talk radio and it had me scratching my head. It feels like the government might be juggling numbers to make reports look better than they are but who knows I can only tell you where I’m at there definitely isn’t any relief from grocery prices and gas has shoot up almost $.40 in the last couple weeks

Cooking the books

 

[Up In Smoke]

Did inflation drop or just slow down? Big difference between the two.

They are measured year over year, month over month and historically. The rate of inflation for the month of March dropped.

 

[Up In Smoke]

The price of individual items fell. Eggs, milk and milk products, corn, wheat, barley. Energy products like natural gas and propane. But the most important, wages.

 

[Wally]

Inflation slows to 5% in March, a nearly 2-year low, but core consumer price gains accelerate

March consumer price index report shows annual inflation slowed again. But core consumer price index jumped 5.6%

www.usatoday.com

Core inflation up!

 

[Up In Smoke]

Inflation slows to 5% in March, a nearly 2-year low, but core consumer price gains accelerate

March consumer price index report shows annual inflation slowed again. But core consumer price index jumped 5.6%

www.usatoday.com

Core inflation up!

Yep, excludes energy and food. The service sector is seeing inflation. Driven by wages.