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The June Inflation Report Is Here

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mystery-ak:
The June Inflation Report Is Here
Spencer Brown
Spencer Brown
 |  July 11, 2024 11:00 AM

The inflation rate dipped 0.1 percent in June but the Consumer Price Index (CPI) showed prices have increased 3.0 percent in the last 12 months — still above the Federal Reserve's 2.0 percent goal — while the cost of many common products are still up by double-digit percentages since this month last year.

Core CPI inflation — which excludes more volatile food and energy costs — actually increased last month with prices rising 0.1 percent for an annual advance of 3.3 percent.

Among the costs still rising faster than the headline and core CPI numbers in the last year is electricity (+4.4 percent), transportation services (+9.4 percent), and shelter (+5.2 percent). The biggest drop in annual prices was seen in used cars and trucks, down 10.1 percent in the last 12 months.


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https://twitter.com/KobeissiLetter/status/1811389524833935655

Amid the chaos swirling around him, President Joe Biden is likely to at least attempt to use Thursday's CPI print to claim his economic policies — first "Build Back Better" then rebranded as "Bidenomics" before both terms were largely abandoned after they failed to bolster the president's approval ratings — are working. Americans, however, aren't likely to buy the spin.

more
https://townhall.com/tipsheet/spencerbrown/2024/07/11/june-cpi-inflation-n2641724

catfish1957:

--- Quote from: mystery-ak on July 11, 2024, 03:21:50 pm ---The June Inflation Report Is Here
Spencer Brown
Spencer Brown
 |  July 11, 2024 11:00 AM

The inflation rate dipped 0.1 percent in June but the Consumer Price Index (CPI) showed prices have increased 3.0 percent in the last 12 months — still above the Federal Reserve's 2.0 percent goal — while the cost of many common products are still up by double-digit percentages since this month last year.


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Wait until August for the real number as it is reported at the bottom of Page 10.

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