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Notice from the PCE data that durable goods continues to show deflationary or minimum inflationary pressure, as people are buying less computers, cars, refrigerators, furniture, etc.
The Federal Reserve uses PCE as its inflation indicator and its been below 3% since October 2023 (6 month average is around 2.7%).
Which is bullshit.
Don't forget the change from 20lb to 15 lb propane tank refills... Been going on for a long fricking time, and no one complains.
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net