Key inflation indicator posts biggest year-over-year gain in nearly three decades

[Legion]

A key inflation indicator that the Federal Reserve uses to set policy rose 3.4% in May, the fastest increase since the early 1990s, the Commerce Department reported Friday.

The gain was the biggest since April 1992.

The core personal consumption expenditures price index increase reflects the panic-induced shutdowns of 2020.

Fed officials continue to insist that they see the current situation as temporary.

Including volatile food and energy prices, the PCE index rose 3.9% for the year and 0.4% for the month.

Most of the inflation increase came from energy, with prices rising 27.4%.

A separate part of the report showed that consumer spending was flat for the month, versus the estimate for a 0.4% increase, while personal income declined 2%.

The personal saving rate was 12.4%, a decline from April’s 14.5%.



https://foxnewsupdates.com/news/business/key-inflation-indicator-posts-biggest-year-over-year-gain-in-nearly-three-decades/

 

[Billy the Great Khan]

Don't worry. We'll all be paying more in taxes soon too.

 

[Grokmaster]

YAY, PRES.MORON FRILLY PANTIES AND THE DUNCE-O-CRATS!!



COULDN'T RUN A FUCKING LEMONADE STAND...

 

[Legion]

Don't worry. We'll all be paying more in taxes soon too.

Unless we cheat.

 

[Legion]

YAY, PRES.MORON FRILLY PANTIES AND THE DUNCE-O-CRATS!! COULDN'T RUN A FUCKING LEMONADE STAND...

They're running America...into the ground. By design, I suspect.

 

[Flash]

Don't worry. We'll all be paying more in taxes soon too.

Tax increases are built into the 2017 tax cuts phased in between 2021-2027.

 

[dukkha]

Tax increases are built into the 2017 tax cuts phased in between 2021-2027.

https://taxfoundation.org/no-stealth-tax-increases-in-2021-republican-biden-taxes/

 

[Flash]

https://taxfoundation.org/no-stealth-tax-increases-in-2021-republican-biden-taxes/

"Although there will not be a tax increase for individuals in 2021, there are tax increases scheduled over the next six years. The TCJA’s individual income tax provisions are scheduled to expire at the end of 2025, along with the phaseout of several business tax provisions between 2021 and 2026. The individual provisions set to expire include lower individual income tax rates, the more generous Child Tax Credit (CTC), and the eliminated personal exemption. Businesses will face separate tax increases as R&D expenses must be amortized over five years beginning in 2022, while the TCJA’s full expensing provisions start phasing out at 20 percent per year beginning in 2023.

https://taxfoundation.org/no-stealth-tax-increases-in-2021-republican-biden-taxes/

 

[ExpressLane]

I always wanted to live in a million dollar home. Now I can without moving.

 

[Micawber]

But you'll take Biden's 6+ percent growth, won't you, chump.

 

[Micawber]

I always wanted to live in a million dollar home. Now I can without moving.

LOL.

 

[archives]

Inflation was predicable due to a number of economic reasons, decline in production being one, but that doesn't mean it is permeant or will get worse, just as much credibility to the Fed's view as "temporary. " I'll got with their appraisal over that of a "Fox update"

 

[PostmodernProphet]

Unless we cheat.

we don't talk about things like that in public.....

 

[Legion]

we don't talk about things like that in public.....

I do.

 

[Legion]

Inflation was predicable due to a number of economic reasons, decline in production being one, but that doesn't mean it is permeant or will get worse.

Is that so?

 

[archives]

Is that so?

Common sense, well to most anyways. Here, I'll put it in simple terms even you can understand

Take airlines, less traveled last year, so with demand down, supply dropped, now with people eager to fly again and supply still down, prices have risen. Same example can be applied across multiple products or services, vehicle cost being another easy illustration. Eventually an equilibrium will arrive, which is why the Fed came out with "temporary"

 

[Legion]

Common sense

So you say.

 

[Legion]

But you'll take Biden's 6+ percent growth, won't you, chump.

What "6+ percent growth" is bungling Biden supposedly responsible for?

 

[Legion]

I always wanted to live in a million dollar home. Now I can without moving.

That's likely.

https://www.wsaw.com/2021/06/25/housing-prices-doubled-real-estate-experts-dont-think-its-bubble/

https://www.thestreet.com/investing/is-another-housing-bubble-building

 

[archives]

So you say.

And basic economics, but I guess your web sites forgot to mention those facts