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Yeah, this isn't just a one-time transient price spike that happened months ago. August fuel prices fell a lot (10.6%), a gift! — but core inflation erased all
by fennecfoxen 4y ago
Yeah, this isn't just a one-time transient price spike that happened months ago. August fuel prices fell a lot (10.6%), a gift! — but core inflation erased all that progress, with a 0.1% month-to-month rise in the CPI overall. Food's up 0.8% in a month. Rent was up 0.7%. Cars were up 0.8%.
We probably can't rely on fuel prices falling 10% again next month.
- bryanlarsen 4y agoThe problem with core inflation is that it is a lagging indicator. Rent especially. If a landlord increases the rent on Jan 1 but your contract rolls over on Dec 1 that increase shows up in the December numbers. And yes gas has already fallen 10% in September. From $4.087 in August to $3.677 today.
- landemva 4y ago> fuel prices falling 10% again next month. Mid-term elections are approaching and gas pump prices are an easy talking point. With SPR releases, why won't USA fuel prices drop?
- fennecfoxen 4y agoOkay, you've convinced me. Now how about the month after that?