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Inflation rises 2.4% in September, above expectations​

Labor Department releases closely watched September inflation data​



By Eric Revell FOXBusiness

Inflation continued to cool in September to the lowest level in three years, though the report came in slightly hotter than expected.

The Labor Department on Thursday said the consumer price index (CPI) — a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in September from the prior month and was up 2.4% from a year ago.

Economists predicted that inflation would slow to 2.3% on an annual basis with it rising 0.1% from last month, according to estimates by economists surveyed by LSEG.

So-called core prices, which exclude more volatile measurements of gasoline and food to better assess price growth trends, were up 0.3% on a monthly basis and 3.3% compared to a year ago — slightly higher than economists' expectations of 0.2% and 3.2%, respectively.

More here: https://www.foxbusiness.com/economy/cpi-inflation-september-2024
 
Rightguide said:

Inflation rises 2.4% in September, above expectations​

Labor Department releases closely watched September inflation data​



By Eric Revell FOXBusiness

Inflation continued to cool in September to the lowest level in three years, though the report came in slightly hotter than expected.

The Labor Department on Thursday said the consumer price index (CPI) — a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in September from the prior month and was up 2.4% from a year ago.

Economists predicted that inflation would slow to 2.3% on an annual basis with it rising 0.1% from last month, according to estimates by economists surveyed by LSEG.

So-called core prices, which exclude more volatile measurements of gasoline and food to better assess price growth trends, were up 0.3% on a monthly basis and 3.3% compared to a year ago — slightly higher than economists' expectations of 0.2% and 3.2%, respectively.

More here: https://www.foxbusiness.com/economy/cpi-inflation-september-2024
Click to expand...
So, it declined, just not as much as anticipated. This isn't the "gotcha" that you seem to think. Are prices still high where I am? Sure. It doesn't mean that inflation is at 2022 levels by any means.
 
BuuuuTtttt!! I don’t FEEL better !!
Facts don’t matter !

Federal help for emergencies?? I don’t FEEL like they are helping me!! All the Trumplikkans say I’m not getting help!!!

(Never mind FEMA won’t exist under Manifesto 2025. Cuz? The Billionaires need more! They can’t piss down on us without full bladders! Vooodoooo Economics. It works for those sucking UP all the money!!)
 
US producer prices unchanged in September

US producer prices were unchanged in September, pointing to a still-favorable inflation outlook and supporting views that the Federal Reserve would cut interest rates again next month.

The unchanged reading in the producer price index for final demand last month followed an unrevised 0.2% gain in August, the Labor Department's Bureau of Labor Statistics said on Friday.

In the 12 months through September, the PPI increased 1.8% after climbing 1.9% in August.
Click to expand...
 
Pad_Foot said:
BuuuuTtttt!! I don’t FEEL better !!
Facts don’t matter !

Federal help for emergencies?? I don’t FEEL like they are helping me!! All the Trumplikkans say I’m not getting help!!!

(Never mind FEMA won’t exist under Manifesto 2025. Cuz? The Billionaires need more! They can’t piss down on us without full bladders! Vooodoooo Economics. It works for those sucking UP all the money!!)
Click to expand...
Ah, Voodoo Economics, the famous words of Republican President George H.W. Bush from his primary campaign in 1980 against his eventual running mate/boss Ronald Reagan. Who could forget? (Apparently everyone, except for Ben Stein, who brought it up in Ferris Bueller.) Apparently, W agreed more with Reagan than with Dad, given his own, budget-busting tax policy (and the wars he put on the national line of credit) much later.
 






Peter Schiff

@PeterSchiff

Today's #jobs report is the second to last one that will be released prior to the presidential election. I don't think it's a coincidence that it came out much stronger than expected. My guess is that voters won't get the real numbers until after their ballots have been cast.
 

Peter Schiff

@PeterSchiff

Sept.'s "strong" #jobs report (likely to be revised lower) was powered by a surge in the number of people waiting tables and tending bar. Many of these jobs went to people who lost manufacturing jobs, while others are second jobs for those who can no longer survive on just one.
 
lessOHmo said:
Peter Schiff
@PeterSchiff

Sept.'s "strong" #jobs report (likely to be revised lower) was powered by a surge in the number of people waiting tables and tending bar. Many of these jobs went to people who lost manufacturing jobs, while others are second jobs for those who can no longer survive on just one.
Click to expand...

Schiff has consistently predicted economic disaster since 2007. So he brags about predicting recessions, but conveniently ignores all the economic good times that he fails to predict.

If you always predict an economic downturn, you will eventually be right because economies are cyclical.
 
'Soft landing' optimism spurs broad Wall Street rebound at big banks

The biggest banks staged a broad Wall Street rebound in the third quarter as corporate clients got more comfortable issuing new debt and pursuing mergers and some traders recorded one of their best quarters in years.

Goldman Sachs (GS) said Tuesday that its investment banking fees were up 20% from the year-ago period. Bank of America reported its highest third quarter trading revenue on record while Citigroup‘s trading notched its highest third-quarter performance in over a decade. Investment-banking fees were also up 44%.
Click to expand...

"My recent conversations with clients have been quite constructive," Goldman CEO David Solomon told analysts Tuesday. "The beginning of the rate cut cycle has renewed optimism for a soft landing, which should spur increased economic activity."
Click to expand...
 
Odd story …

How the tiny Caribbean island of Anguilla has turned the AI boom into a digital gold mine

Anguilla's earnings from web domain registration fees quadrupled last year to $32 million, fueled by the surging interest in AI. The income now accounts for about 20% of Anguilla's total government revenue.
Click to expand...

The money directly boosts the economy of Anguilla, which is just 35 square miles (91 square kilometers) and has a population of about 16,000. Blessed with coral reefs, clear waters and palm-fringed white sand beaches, the island is a haven for uber-wealthy tourists. Still, many residents are underprivileged and tourism has been battered by the pandemic and, before that, a powerful hurricane.
Click to expand...

There are now more than 533,000 .ai web domains, an increase of more than 10-fold since 2018.
Click to expand...
 
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