Inflation cools in June, down to 3% from 9.1% last June

[SaysWho?]

US inflation cooled in June for the 12th straight month | CNN Business

WWW.CNN.COM

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What a difference a year makes.

 

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Inflation, as measured by the CPI, has now eased for 12 consecutive months and is at its lowest rate since March 2021.

 

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The June annual rate is down from 4% in May and landed slightly below economists’ expectations for a 3.1% increase, according to Refinitiv.

 

On a monthly basis, prices increased by 0.2%, a cooler reading than the 0.4% increase seen in May, according to the report.

 

Gas prices picked up 1% from May but are down nearly 27% from a year ago. Food prices and grocery store prices are up 5.7% and 4.7%, respectively, for the 12 months ended in June. However, eating out remains costlier: Food away from home inflation is up 7.7% year over year, according to the report.

 

“That’s Bidenomics in action,” President Joe Biden said Wednesday. “Today’s report brings new and encouraging evidence that inflation is falling while our economy remains strong.”

 

The bigger news: wages are outpacing inflation now. And I may be due for a raise with new ownership. *crosses fingers*

[stepee]

This must be why I was in a coffee shop and overheard two maga hipsters give a toast to Biden 

[b_m_b_m_b_m]

4 minutes ago, stepee said:

This must be why I was in a coffee shop and overheard two maga hipsters give a toast to Biden 

Maga people drink monster energy drinks not soy lattes

[TUFKAK]

But I heard Biden is destroying the economy.

[Brian]

But I heard we entering the next Great Depression. 

[TUFKAK]

12 minutes ago, Brian said:

But I heard we entering the next Great Depression. 

The cost of eggs ruined “real Murica”

[Ominous]

28 minutes ago, TUFKAK said:

The cost of eggs ruined “real Murica”

I still get my $8 free range eggs. Not about to eat an egg with a yellow yoke. 

[MarSolo]

“…and here is why this is bad for Democrats.” -New York Times

[TUFKAK]

4 minutes ago, MarSolo said:

“…and here is why this is bad for Democrats.” -New York Times

I apparently Dom them though 

[osxmatt]

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[stepee]

24 minutes ago, MarSolo said:

“…and here is why this is bad for Democrats.” -New York Times

 

“With things going so well, is there anything left democrats can even offer us?”

[outsida]

4 hours ago, TUFKAK said:

But I heard Biden is destroying the economy.

I heard poor people getting paid ruins the economy. 

[Signifyin(g)Monkey]

19 hours ago, TUFKAK said:

But I heard Biden is destroying the economy.

I heard a friend of a friend of mine brag the other day about how he’d nearly doubled his income by job hopping since 2020, and had recruiters eating out of his hand; then he offhandedly claimed Biden was destroying the economy.  Politics, amirite?

 

To be fair my more liberal colleagues got into the habit of trying to claim unemployment wasn’t low during the pre-pandemic Trump years, when it clearly was.

 

I think the idea that most people vote with their pocketbook is pretty much dead.  Now most people think their pocketbook is either half-empty or half-full depending on whether the person they voted for is in office.

[gamer.tv]

Here’s hoping that happens on our end. We’re still at 8.7% and the advice we’re given is to ‘dig deep’ and to trust that cuts will make everything better. 13 years of austerity, so what’s another year?