OMGoodness

 

you got to know what to look for and why, so here goes:

Inflation eases as consumer prices rise 6.3% in July

"Inflation eased last month as energy prices tumbled, raising hopes that a surge in prices increases may have peaked.

(They only tumbled because of the huge drawdown of the Strategic Petroleum Reserve. Raising hopes...Goodness...

Zechariah 10:2

For idols speak deceit and diviners see illusions; they tell FALSE dreams and offer empty comfort. Therefore the people wander like sheep, oppressed for lack of a shepherd.

Wore out 1 Thessalonians 5:3 already.)

"According to Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June, biggest jump since 1982."

(Who is their proofreader? AI?

They missed an "a" in front of Commerce department, and a "the" in front of biggest jump. Anyway. Thats a .5% decrease from a month earlier, Only a lil less than the biggest jump in 40 years.Yippie! Take out the drawdown from the Strategic reserve and what do you think it would have been? My contention is it would have went up, not down .5%.)

"On a monthly basis, consumer prices actually fell 0.1% from June to July; core inflation blipped up 0.1%, the Commerce Department reported.

"Core inflation, thats with energy and food taken out, still went up even with all the interest rate increases and the drawdown on the SPR. This is the number that you need to pay attention to right now as energy supply is being artificially manipulated till the end of November I believe.)

"In the United States, the Commerce Department’s personal consumption expenditures (PCE) index is less well known than the Labor Department’s consumer price index (CPI).

But the Fed prefers the PCE index as a gauge of inflationary pressures, partly because the Commerce index attempts to measure how consumers adjust to rising prices by, for example, substituting cheaper store brands for pricier name brands.

(They switched over to that metric right before inflation really started getting out of hand. It's what tipped me off that something was a miss and led to me doing the first "presentation" on the subjext. "M2, lumber and taco bell" I think I called it.

"But the Fed prefers the PCE index as a gauge of inflationary pressures, partly because the Commerce index attempts to measure how consumers adjust to rising prices by..."

Baloney, it's always shown a lower level of inflation, that why they switched to that metric.)

"CPI has been showing higher inflation than PCE; Last month, for instance, CPI was running at an 8.5% annual pace after hitting a four-decade high 9.1% in June. One reason: The Labor Department’s index gives more weight to rents, which have soared this year."

Again, historically it always has, that's why the fed switched metrics.)

What the "core inflation numbers" in CPI and PPI (Producers Price Index, that is what will tell you what is really going on.