Inflation holds steady, but Trump’s tariffs are boosting some prices

[Metric Mouse]

MIGA

Make Inflation Great Again.

It's transitory.

 

[Metric Mouse]

"...latest Consumer Price Index data released Tuesday by the Bureau of Labor Statistics."

Can anything coming out of this 'shoot-the-messenger' administration be believed? Unless the head of the Bureau of Labour Statistics is willing to jeopardise his job he won't report anything that might make Trump frown.

Don't post dumb shit.

If you disbelieve offical statistics, disregard data and ignore scientific consensus...

Oh, you're a Trump voter, aren't you?

 

[Metric Mouse]

How is a price rise of 0.2% "holding steady"???

That the increase wasn't as much as expected - i.e., we went to 2.7% not 2.8% - but that's hardly good news for consumers....it's just "not as bad news as people expected."

You would have to ask the authors of the article.

If you truly think any inflation is always bad, you might want to take an economics 101 course.

 

[Rumblefish]

If you truly think any inflation is always bad, you might want to take an economics 101 course.

Where did I say that “any inflation is always bad”?

 

[Grand Mal]

Don't post dumb shit.

Dumb shit, huh?

WASHINGTON -- When the coronavirus surged during President Donald Trump’s first term, he called for a simple fix: Limit the amount of testing so the deadly outbreak looked less severe. When he lost the 2020 election, he had a ready-made reason: The vote count was fraudulent.

And on Friday, when the July jobs report revisions showed a distressed economy, Trump had an answer: He fired the official in charge of the data and called the report of a sharp slowdown in hiring “phony.”

In rejecting the jobs report, Trump follows his own playbook of discrediting unfavorable data

President Donald Trump has a pattern of dismissing or altering data that reflects poorly on him

abcnews.go.com

If you disbelieve offical statistics, disregard data and ignore scientific consensus...

you might be President of the United States.

Oh, you're a Trump voter, aren't you?

Or one of his cult, yeah.

 

[Metric Mouse]

Where did I say that “any inflation is always bad”?

Post #41

How is mild inflation bad for consumers?

It's not, obviously.

 

[Metric Mouse]

Or one of his cult, yeah.

Well, if that's how you identify, then we will probably disagree on most topics.

 

[Peacenik]

It's transitory.

There can be no expectation to return to productivity after the workers responsible for it have been deported.

There can be no expectation to return to consumerism levels after consumers contributing to it are deported.

Employment and consumerism are taking a hit. It wasn't needed. Trump said he was deporting criminals and gang members but instead tax paying workers have been the target. Dumb.

 

[Rumblefish]

Post #41

How is mild inflation bad for consumers?

It's not, obviously.

Inflation above 2.0% is bad for consumers - that’s the consensus.

And inflation growing from 2.5% to 2.7% is bad for consumers.

Particularly with the producer price index (wholesale inflation if you will) coming in at 0.9 % (3.3% annual).

The People were apoplectic in November in 2024 with comparable CPI numbers (2.7% annual inflation in Nov. 2024.

Go on. Tell people it’s not a problem.

 

[ncguy]

Post #41

How is mild inflation bad for consumers?

It's not, obviously.

The fed says 2 percent is the target
They think being higher is bad or they wouldn't set the target at... 2 percent

 

[Michael Cole]

THere are two of you guys arguing the same supply and demand arguments.



The US is the largest producer of crude oil in the world. The cost of crude is driven by speculation, and an intent by the US to produce more oil drives down the price of a barrel of crude. While the available data shows a small increase in output from February to May, the intent of the US president to promote oil production has a profound impact on the cost of crude.

Since Trump has taken office the demand for gasoline has increased while the price of gasoline has decreased, fueled (pun!) by a precipitous 20% drop in the cost of crude, which is driven by the US President signaling the desire to increase US production.

Also a problem for the supply argument is that US imports of oil have declined by ~8% between February-May compared to October-January while Gasoline demand increased by 7%... and prices dropped.

Again, all driven by the US president signaling the intent to increase US oil production.

You seem to be lost. Covid happened. Wells were shut down. Your inability to accept this is fascinating and the irrelevant response is boring.

 

[Cassandra]

Post #41

How is mild inflation bad for consumers?

It's not, obviously.

Keep dreamin.
Wholesale prices are way up- where rising inflation hits first.

Market watch:

"Biggest wholesale-prices jump in three years is clearest sign yet that Trump’s tariffs are costing Americans"​

Loan defaults are rising, real estate sales are dead in the water in most states which means a slow down in construction and spending, and consumer confidence is down over 13% from a year ago.

 

[jpn]

Keep dreamin.
Wholesale prices are way up- where rising inflation hits first.

Yep.

 

[Chomsky]

Yep.

Beef & Electricity haven't fared much better . . .

 

[Chomsky]

Keep dreamin.
Wholesale prices are way up- where rising inflation hits first.

Market watch:

"Biggest wholesale-prices jump in three years is clearest sign yet that Trump’s tariffs are costing Americans"​

Loan defaults are rising, real estate sales are dead in the water in most states which means a slow down in construction and spending, and consumer confidence is down over 13% from a year ago.

And employment is getting dicey . . .

 

[jpn]

Beef & Electricity haven't fared much better . . .

Don't worry! Trump has a solution for high energy prices!!!



That's right, cut energy supply! That'll work!!!

I mean, this guy doesn't even understand simple concepts like supply and demand.

Isn't it weird to know that you're vastly smarter than the president of the United States?

 

[Metric Mouse]

Keep dreamin.
Wholesale prices are way up- where rising inflation hits first.

Market watch:

"Biggest wholesale-prices jump in three years is clearest sign yet that Trump’s tariffs are costing Americans"​

Loan defaults are rising, real estate sales are dead in the water in most states which means a slow down in construction and spending, and consumer confidence is down over 13% from a year ago.

So businesses are eating much of the inflation, based on your post?

Ok. Sucks to be a billionaire businesses owner - they are losing profits. Not sorry.

 

[Metric Mouse]

The fed says 2 percent is the target
They think being higher is bad or they wouldn't set the target at... 2 percent

For sure.

But we are closer to 2% than we were a year ago. But interest rates were lowered...

And much, much closer than say 2 years ago.

Progress is slow.