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Inflation 5% For June

Submitted by Susan on Wed, 07/16/2008 - 07:32
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CNN reports 5% Inflation in June biggest jump in 26 years....note that's the Government number. Wonder what it really was? Everything is fine..........

http://money.cnn.com/2008/07/16/news/economy/cpi/?postversio...

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US Inflation higher than economists expected

Submitted by Susan on Wed, 07/16/2008 - 09:03.

www.guardian.co.uk/business/feedarticle/7655759

"U.S. Treasuries prices fall as U.S. inflation hits 5 pct
*Credit concerns give Fed less room to fight inflation
*Stocks expected to open flat (Updates prices, commentary)
By Ellen Freilich
NEW YORK, July 16 (Reuters) - U.S. Treasuries prices fell on Wednesday after a rise in the U.S. June Consumer Price Index accelerated to 5.0 percent year-over-year, well above economists' forecasts."

Details

Submitted by OrlandoJim on Wed, 07/16/2008 - 08:59.

June (manipulated) CPI month over month - 1.1% (still suggests over 13% annually)

Fastest monthly gain since 1982

Energy rose 6.6% in June

Seasonally-adjusted annualized overall rate of inflation 7.9% over the last 3 months.

Real average weekly earnings down .9% for the month, making June the third straight month that earnings haven't kept pace with prices and the largest monthly drop in real earnings since (corrected) 2005.

For the year, average real weekly earnings are down 2.4%, largest annual drop since Sept. of 2005.

But, despite all this, look for Bernanke to declare all is well as once again Ron Paul takes him to the woodshed at 10:00.

That's bad...but

Submitted by jzneff on Wed, 07/16/2008 - 07:46.

The 5% jump in inflation is CPI measured by year...so the 5% jump was from June 2007-June 2008. It's pretty bad...but if we were measuring 5% increases by month, then it would be panic time.

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Submitted by Susan on Wed, 07/16/2008 - 08:56.

I was surprised to hear it on CNN this morning. They were actually saying inflation outpaced income growth as hardly anyone was able to obtain a 5% raise in pay or investment rate of return. I know 5% isn't accurate (it's much higher than that and EASY to see that at the grocery store) but, it's higher than the 2-3% they usually site on TV.

Inflation is tough

Submitted by jzneff on Wed, 07/16/2008 - 09:05.

It's a tough number to come by...I don't think there's any method for calculating it very accurately. You have to make some assumptions to do so...just know that the number will always be higher than government estimates and lower than shadowstats.com.

i can guarantee that inflation is higher than 5% and lower than 15%. Pick your number in there somewhere.

—

What do you think about the war on drugs?
How about Operation Wall Street?
Shout it today!

http://www.youshouts.com/index.php

Watch Bernacke magically dismiss inflation today...

Submitted by FireTeamforFreedom on Wed, 07/16/2008 - 07:44.

and state we just need more liquidity. This bailout of Fannie Mae and Freddie Mac is just another way to print more money and send it out the back door.

Paulson and Bernacke are no better than giving your credit cards and checkbook to a crack addict on a promise they will take good care of them.

Mike
"Fire Team for Freedom", "Operation Daily Paul" and "Revolutionary Business"
visit www.mikeandjake.com

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Mike
"Fire Team for Freedom"
visit www.mikeandjake.com

Susan ... Do you have a link!

Submitted by The_Winds_of_Change on Wed, 07/16/2008 - 07:44.

Do you have a link for this? Thanks in advance.

hjschaapman

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The Winds of Change!

Link for CNN Inflation Story

Submitted by Susan on Wed, 07/16/2008 - 08:59.

http://money.cnn.com/2008/07/16/news/economy/cpi/?postversio...

I added it to the original post as well. I had seen it on TV and apologize for not looking up the story-link initially.

Thanks Susan

Submitted by The_Winds_of_Change on Wed, 07/16/2008 - 09:05.

hjschaapman

—

The Winds of Change!

5% is about right...

Submitted by bigsurjune on Wed, 07/16/2008 - 07:38.

You need to look at M3 though:

http://www.nowandfutures.com/key_stats.html