SaysWho? Posted April 12, 2023 Share Posted April 12, 2023 Inflation report shows CPI was 5 percent in March - The Washington Post WWW.WASHINGTONPOST.COM To get consumer prices back to normal, the Federal Reserve is still working to slow the economy down. Quote New data from the Bureau of Labor Statistics released Wednesday showed that prices rose 5 percent in the year ending in March, the smallest 12-month increase since May 2021. That's down from the 6 percent rate notched in February and well below last summer's peak of 9.1 percent. Compared to February prices, March prices rose 0.1 percent. Quote Housing costs were by far the largest contributor to the monthly price increase, more than offsetting a 3.5 percent drop in the energy index. Rents rose 0.5 percent in March, though that was a slower pace than the previous month. Car insurance (up 1.2 percent), airfares (4 percent), household furnishings (0.4 percent) and new vehicles (0.4 percent) all saw increases in March. But there were signs of encouragement in costs for medical care and used cars and trucks, which fell 0.3 and 0.9 percent over the month, respectively. Compared to last year, used car prices are down 11 percent. Inflation is trending in the right direction, and March marked the ninth straight month of easing after last year's spike. As I said in another thread, I've noticed downward trends for some items -- milk's gone down here, chicken has noticeably gone down since the highs reached last summer, and eggs, while still elevated, are down from their highs. Course, corporate greed is still affecting prices in big ways: High egg prices send profits at largest US producer soaring more than 700% | CNN Business WWW.CNN.COM Cal-Maine Foods, the largest egg producer in the United States, reported revenue doubled and profit surged 718% last quarter because of sharply higher egg prices. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted April 12, 2023 Share Posted April 12, 2023 Thank you based jpow Quote Link to comment Share on other sites More sharing options...
Firewithin Posted April 12, 2023 Share Posted April 12, 2023 surely that means we will not be price gouged on every conceivable product right?...... Quote Link to comment Share on other sites More sharing options...
Fizzzzle Posted April 12, 2023 Share Posted April 12, 2023 8 minutes ago, Firewithin said: surely that means we will not be price gouged on every conceivable product right?...... No. Once the market adjusts to the new price, it remains the price. Profits go up, wages go down. This is the way. 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted April 12, 2023 Share Posted April 12, 2023 The cumulative inflation since 2021 began is really wild. Quote Link to comment Share on other sites More sharing options...
stepee Posted April 12, 2023 Share Posted April 12, 2023 Meanwhile I haven’t eased down a single % my entire damn life Quote Link to comment Share on other sites More sharing options...
LazyPiranha Posted April 12, 2023 Share Posted April 12, 2023 5 minutes ago, stepee said: Meanwhile I haven’t eased down a single % my entire damn life Aren’t you supposed to call a doctor if it lasts for more than four hours? 1 Quote Link to comment Share on other sites More sharing options...
stepee Posted April 12, 2023 Share Posted April 12, 2023 3 minutes ago, LazyPiranha said: Aren’t you supposed to call a doctor if it lasts for more than four hours? omg I’ve always heard this the wrong way, I thought it was if you went over 4 hours without one Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted April 12, 2023 Share Posted April 12, 2023 Bank of Canada holds interest rate for first time in a long time: Bank of Canada maintains policy rate, continues quantitative tightening WWW.BANKOFCANADA.CA The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Holds at 4.5%. Quote Link to comment Share on other sites More sharing options...
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