This is what you get when you vote for a President by Mail........
Latest Inflation Numbers Released, Surprising Economists
Inflation for consumers rose 0.3 percent in April for a 8.3 percent increase in the last 12 months — hotter than the 8.1 percent consensus prediction — as the Biden administration struggles to get a handle on the runaway price increases spurred by the president's policies.
https://townhall.com/tipsheet/spencerbro...gHz3ijNUBI
Fear it's only going to get worse
(05-11-2022, 11:15 AM)The Drifter Wrote: [ -> ]This is what you get when you vote for a President by Mail........
Didn't realize Biden was the Fed Chair but if you say so then we can all go along with it.
Question, when they say last month the CPI was 8.5 and then this month it was 8.3 does that mean we've seen an increase of 16.9 over last year in the two months? That can't be right is it?
(05-11-2022, 02:40 PM)EricC85 Wrote: [ -> ]Question, when they say last month the CPI was 8.5 and then this month it was 8.3 does that mean we've seen an increase of 16.9 over last year in the two months? That can't be right is it?
I
think it's usually measured over a trailing 12 month period. So 8.3% was from April 2021-April 2022, and 8.5% was from March 2021 to March 2022. That's at least how I read it when I see the reports.
This inflation won't slow down until the economy itself slows down, I think. Sad!
(05-11-2022, 03:46 PM)KingIngram052787 Wrote: [ -> ] (05-11-2022, 02:40 PM)EricC85 Wrote: [ -> ]Question, when they say last month the CPI was 8.5 and then this month it was 8.3 does that mean we've seen an increase of 16.9 over last year in the two months? That can't be right is it?
I think it's usually measured over a trailing 12 month period. So 8.3% was from April 2021-April 2022, and 8.5% was from March 2021 to March 2022. That's at least how I read it when I see the reports.
That makes more sense still high but at least in reading it wrong and it's not compounding
(05-11-2022, 07:30 PM)EricC85 Wrote: [ -> ] (05-11-2022, 03:46 PM)KingIngram052787 Wrote: [ -> ]I think it's usually measured over a trailing 12 month period. So 8.3% was from April 2021-April 2022, and 8.5% was from March 2021 to March 2022. That's at least how I read it when I see the reports.
That makes more sense still high but at least in reading it wrong and it's not compounding
The number they report is for a year. It compounds with the numbers for previous years. If inflation from April 2020 to April 2021 was 4.2%, and inflation from April 2021 to April 2022 was 8.3%, the total inflation for the two year period is (1 + 0.042)*(1 + 0.083) - 1 = 0.128 = 12.8%.