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(Morningstar) July CPI Report Forecasts Show Continued Tariff-Driven Inflation

Chomsky

Chomsky

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(Morningstar) July CPI Report Forecasts Show Continued Tariff-Driven Inflation
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Tariff-induced price rises are expected to continue to weigh heavily on the economy, pushing inflation higher yet again, according to forecasts for the July Consumer Price Index report.
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I'm leaving this article here in general Political Discussion, rather than in Breaking News, as it is a forecast from an Economists' Survey - not the official BLS data which will be released at 8:30A next Tuesday 12 AUG.

Economists believe we will see inflation creep-up another 0.2 of a percent this month - after last month's 0.3 percent increase.

I might point-out that with a new Trump appointed BLS head, Tuesday's release data will be anybody's guess. At a news conference yesterday, Trump & the new BLS head claim they found errors in the data for the previous 18 months, showing Biden's data under his Presidency was off and the economy was much worse than Biden's BLS reported, adding the new guy will be cleaning-up and re-reporting the corrected Biden Presidency data. Trump's new guy also claimed the data under Trump's recent tenure was actually better than earlier reported by the fired BLS head.

It is what it is.
 
Data is data. What is done with it is another matter.

We know that Trump wants "his numbers" to look good, and we know Trump cheats at everything, so we can expect the new reports to present a rosy picture despite whatever the reality is.

We are going to have to have independent institutions begin compiling and reporting on jobs and consumerism.

We are going to need independent watchdogs overseeing whatever Trump stooges are doing to cook the numbers.
 
Trump and his new BLS guy can lie all they want but if people lose their jobs or see their prices go up, I don't think they'll care what the official numbers are. I seriously doubt most Americans even pay attention to those numbers.
 
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