U.S. inflation hit 8.6% in May

[onthedarkside]

 

U.S. consumer inflation reached an 8.6% annual rate in May, its highest level in more than four decades as surging energy and food prices pushed prices higher.

 

The Labor Department on Friday said that the consumer-price index increased 8.6% in May from the same month a year ago, marking its fastest pace since December 1981. That was also up from April’s CPI reading, which was slightly below the previous 40-year high reached in March. The CPI measures what consumers pay for goods and services.

 

May’s increase was driven in part by sharp rises in the prices for energy, which rose 34.6% from a year earlier, and groceries, which jumped 11.9% on the year, the biggest increase since 1979.

 

(more)

 

https://www.msn.com/en-us/money/markets/us-inflation-hit-86percent-in-may/ar-AAYiFEQ

 

 

[AnotherFarang8]

Back some years ago they changed the formula to calculate inflation. There are websites that count by the old formula which shows a 2x higher inflation or about that.

[placeholder]

5 hours ago, AnotherFarang8 said:

Back some years ago they changed the formula to calculate inflation. There are websites that count by the old formula which shows a 2x higher inflation or about that.

Care to actually share them with us. There was a source called shadowstats that claimed much higher inflation. Ultimately it was revealed that the person behind it was making things up.

On the other hand, there was a project called the Billion Prices Project that culled a huge number of prices from the internet and calculated inflation from that. It turn out that the official US inflation numbers tallied extremely closely with those of the Billion Prices Project.

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5 minutes ago, riclag said:

"Consumer sentiment slumped to a record low between May and June, according to preliminary survey data released by the University of Michigan on Friday"

https://www.msn.com/en-us/news/us/consumer-sentiment-plunges-to-record-low-amid-surging-inflation/ar-AAYjjtP

 

He's contributor, but ya gotta look at the people who support his/radical left agenda !

November midterms can't come fast enough

 

Apparently, some people believe that Joe Biden is President of the World since high inflation is now a worldwide phenomenon.

[AnotherFarang8]

48 minutes ago, placeholder said:

Care to actually share them with us. There was a source called shadowstats that claimed much higher inflation. Ultimately it was revealed that the person behind it was making things up.

On the other hand, there was a project called the Billion Prices Project that culled a huge number of prices from the internet and calculated inflation from that. It turn out that the official US inflation numbers tallied extremely closely with those of the Billion Prices Project.

It was the shadowstats website that is often mentioned in non-mainstream articles but personally it doesn’t open for me, idk why, and it’s hard to believe the person behind it was making things up as his data was often referred to by respected businessmen and confirmed by them as correct, with good arguments. Ah well, then it’s not so bad and maybe people at the gas pump shouldn’t read too much into the numbers they see.

[sscc]

 

Take note that Joe Biden preferred subject is foreign affair,  not economy.   

Biden do not understand much about economics himself.

Anytime Biden speaks in public,  he talks as little as possible or just read out some brief notes or statement about economy.  and switch discussion back to global or domestic politics. 

 

 

[nauseus]

On 6/11/2022 at 9:54 PM, placeholder said:

Care to actually share them with us. There was a source called shadowstats that claimed much higher inflation. Ultimately it was revealed that the person behind it was making things up.

On the other hand, there was a project called the Billion Prices Project that culled a huge number of prices from the internet and calculated inflation from that. It turn out that the official US inflation numbers tallied extremely closely with those of the Billion Prices Project.

Here you go. I'm not convinced by their regular use of the word 'improvements' though.

 

https://www.bls.gov/cpi/additional-resources/historical-changes.htm

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47 minutes ago, nauseus said:

Here you go. I'm not convinced by their regular use of the word 'improvements' though.

 

https://www.bls.gov/cpi/additional-resources/historical-changes.htm

I'm not sure what you think that proves. As I pointed out, the shadowstats data clearly proved the accuracy of the BLS figures to a very high degree.

 

[nauseus]

1 minute ago, placeholder said:

I'm not sure what you think that proves. As I pointed out, the shadowstats data clearly proved the accuracy of the BLS figures to a very high degree.

 

You're welcome I'm sure.