Inflation eases as consumer prices rise 6.3% in July

cigaretteman

HR King
May 29, 2001
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Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.

Consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June, the biggest jump since 1982, the Commerce Department reported Friday. Energy prices made the difference in July: They dropped last month after surging in June.

So-called core inflation, which excludes volatile food and energy prices, rose 4.6% last month from a year earlier, Commerce said.

Inflation started rising sharply in the spring of 2021 as the economy rebounded with surprising speed from the short but devastating coronavirus recession a year earlier. Surging customer orders overwhelmed factories, ports and freightyards, leading to delays, shortages and higher prices.

The Fed was slow to respond to rising inflation, thinking it the temporary result of supply chain bottlenecks. But as prices continued to climb, the U.S. central bank moved aggressively, hiking its benchmark interest rate four times since March.

 
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DogBoyRy

HR Legend
Jul 28, 2006
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Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.

Consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June, the biggest jump since 1982, the Commerce Department reported Friday. Energy prices made the difference in July: They dropped last month after surging in June.

So-called core inflation, which excludes volatile food and energy prices, rose 4.6% last month from a year earlier, Commerce said.

Inflation started rising sharply in the spring of 2021 as the economy rebounded with surprising speed from the short but devastating coronavirus recession a year earlier. Surging customer orders overwhelmed factories, ports and freightyards, leading to delays, shortages and higher prices.

The Fed was slow to respond to rising inflation, thinking it the temporary result of supply chain bottlenecks. But as prices continued to climb, the U.S. central bank moved aggressively, hiking its benchmark interest rate four times since March.

Wait
I thought june was zero.
 

notlongago

HR Heisman
Jul 28, 2012
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Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve.

Consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June, the biggest jump since 1982, the Commerce Department reported Friday. Energy prices made the difference in July: They dropped last month after surging in June.

So-called core inflation, which excludes volatile food and energy prices, rose 4.6% last month from a year earlier, Commerce said.

Inflation started rising sharply in the spring of 2021 as the economy rebounded with surprising speed from the short but devastating coronavirus recession a year earlier. Surging customer orders overwhelmed factories, ports and freightyards, leading to delays, shortages and higher prices.

The Fed was slow to respond to rising inflation, thinking it the temporary result of supply chain bottlenecks. But as prices continued to climb, the U.S. central bank moved aggressively, hiking its benchmark interest rate four times since March.

Core PCE rose .1% month on month, so the writer was playing it pretty fast n loose with the term "eased".
 

notlongago

HR Heisman
Jul 28, 2012
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Your disappointment with the "trend line" is obvious.

That "red wave" some were expecting in November will be "pink" in another month and likely "purple" by October.
Only if people are dumb enough to conflate a slowing growth rate w/ a regression (and if the posters here are representative, you may have a point)
 

Keehawk

HR Heisman
May 24, 2011
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Your disappointment with the "trend line" is obvious.

That "red wave" some were expecting in November will be "pink" in another month and likely "purple" by October.
I think its already blue due to Dobbs. The cons are going to be shocked at the bloodbath imo. That is if the dems don't find a way to **** it up.
 
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Reactions: MitchLL
Nov 28, 2010
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Maryland
Shouldn't prices be going down by now? Not all, of course. We still have climate problems, among others. But aren't the supply chain problems improving?

For those who complain about inflation being driven by too much stimulus - and I agree that's part of it - I suggest we roll back the last few tax cuts for the rich.

Who's with me?

And if you aren't willing to do that, quit your bitching.