Tuesday, March 14, 2023

Some more:

 


Inflation: Consumer prices rise 6% over last year in February, slowest since Sept. 2021


"The 0.5% [month-over-month] rise in core consumer prices last month adds to the evidence that inflation remains stubbornly high, but the ongoing fallout from the SVB crisis over the coming days is still likely to have a bigger bearing on what happens at next week’s FOMC meeting," wrote Andrew Hunter, deputy chief U.S. economist at Capital Economics, in a note on Tuesday."


(Once again:

.5% x 12 months = 6% annualized rate

3x the feds target.

And that's without food or energy figured in.

It's because there's to much $ in the system.

It doesn't just fix itself magically or overnight.)


"The energy index increased 5.2% for the 12 months ending February, 

while the food index increased 9.5% over the last year."

(Now do you see why they are touting the Headline #?)


"The shelter category of CPI rose 8.1% over the last year, accounting for over 60% of the total increase in "core" inflation."

(And now they wanna take that out too?)


"Food costs continued to rise in February, with the food index rising 0.4% over last month."

(.4% monthly = 4.8% annual

it's still almost 2.5x more than the Feds target.)


"The February consumer price index doesn’t alter our call for a 25 bps rate hike at the next FOMC meeting," wrote Ryan Sweet, chief U.S. economist at Oxford Economics, in a note on Tuesday. "Though stress has spiked in the banking system, the Fed is still highly focused on taming inflation. ...We believe the Fed will continue to raise interest rates to cool the economy and take the edge off inflation."


(And why exactly is "Ryan Sweet, chief U.S. economist at Oxford Economics" Quoted in these last two articles?

"Though stress has spiked in the banking system..."

Couldn't have possibly had anything to do with it right?)


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