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#Inflation

100 posts71 participants4 posts today

Poor little Donnie is hiking up tariffs on Canadian goods because Canada keeps laughing at him and refusing to give into his extortion attempts.

Little Donnie and his frail ego is the reason American consumers will be paying more and more for energy, metals and lumber.

Looks like last month's groceries price spike (mastodon.murkworks.net/@moira/) wasn't a one-off.

July isn't as bad as June, but it's still the second worst, $230 over the previous most expensive month. Versus running average (which includes last month's record) we're up 29.3%, and vs. the _previous_ running average (before last month's record) we're up 42.3%.

Vs. May, we're only up 32%.

Still, we are down June to July. But is that meaningful?

With a previous-to-spike standard deviation of $57 on an average expenditure of $679, the $93 drop from last month is not much outside our inflation-adjusted projected standard deviation of $85. Had I gone for groceries today, we'd be well within it.

So - barely? At most.

🧵1/ A key US #inflation gauge rose last month as Trump's tariffs lifted goods prices - We told you that #TrumpTariffs would amount to a new tax on US consumers, now the stats are bearing that out. Is this what folks voted for? I didn’t think so… #economy #RepublicansOwnThis #finance #consumers abcnews.go.com/Business/wireSt

ABC News · Key US inflation gauge rose last month as Trump's tariffs lifted goods pricesBy CHRISTOPHER RUGABER AP economics writer
Continued thread

On Wednesday, the #Fed left its key rate unchanged at 4.3%, & #JeromePowell suggested it could take months for the central bank to determine whether the import duties will cause just a one-time increase in prices or a more persistent increase in #inflation.

On a monthly basis, prices ticked up 0.3% from May to June, while core prices also rose 0.3%. Both figures are higher than consistent with the 2% target.

Continued thread

Excluding the volatile food & energy categories, prices rose 2.8% in the past year, the same as the previous month, which was revised higher. The figures are above the #Fed’s 2% goal.

The uptick in prices helps explain the central bank’s reluctance to cut its key interest rate, despite repeated demands from #Trump that it do so.

A key US #inflation gauge rose last month as #Trump's #tariffs lifted goods prices

The #FederalReserve’s preferred inflation gauge ticked higher last month in a sign that Trump’s broad-based tariffs are starting to raise prices for many goods.

Prices rose 2.6% in June compared with a year ago, the #Commerce Dept said Thursday, up from an annual pace of 2.4% in May.

#economy
apnews.com/article/inflation-f