Whole lot of mixed messaging about the economy lately. I feel like they really cherry pick numbers sometimes. Groceries definitely don't feel cheaper to me, I don't give a shit how much a TV costs now.
this post was submitted on 11 Aug 2023
13 points (100.0% liked)
News
1751 readers
1 users here now
Breaking news and current events worldwide.
founded 1 year ago
It's less "cherry[ing] pick numbers" and more failing to understand what the numbers are saying. Nothing in this article said that we experienced deflation. In fact, specifically on groceries, from the article:
Food prices gained 0.2%. Grocery food prices increased 0.3% after being unchanged in June. They were boosted by higher prices for eggs, beef, dairy as well as fruit and vegetables. Still, grocery store prices have slowed considerably, increasing 3.6% on a year-on-year basis in July after peaking at 13.5% in August 2022. [emphasis added]
Prices still went up. It's just the rate at which they went up was not as fast as it has been. Unfortunately, the new, higher, prices are here to stay. There may be some reductions here and there, but generally speaking, the line always goes up. Under "normal" circumstances, the US Federal Reserve Bank aims for a 2% year on year inflation. And this is usually considered a good thing for everyone. It's just that, in the past couple years, inflation has been way above that as our economy has dealt with the shocks of the Pandemic, lockdowns and Russia's invasion of Ukraine. That we seem to be settling back to a normal rate of inflation is a good thing. Though that doesn't mean it won't suck for most people as they are forced to adjust to the higher prices of everything.
And new trucks and cars are only bought by a select group of people who can afford them, I don't feel it's as direct of a health signal as they'd want you to believe.
If fewer people are buying cars and trucks, their prices fall. Everyone has to buy groceries, and those prices are rising slowly again, like they used to.
yeah. swear I just saw an article on how inflation is not slowing as much as before the other day.
Yeah I swear every article I read contradicts the previous. Feels like a ton of mixed messages and BS
That was a shift from 0.2% to 0.3%, which still isn't nearly as bad as it was. Things fundamentally seem to be trending in a good direction.
yeah but we are talking on a monthly basis.3.6 compared to 2.4 over a year if the one kept up from the other and the 2.4 is more target. Granted inflation generaly exludes many necessities so even in low inflation day to day essentials like food and energy can be high.
Another article not talking about the stagnation in wages. Doesn't matter what the price of eggs are if we can't afford them.
That's in line with the article. Prices aren't going back down, but they're rising slowly again, like we want them to.
There aren’t any declining cost of ANYTHING! Everything is still going up!