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by fennecfoxen 1362 days ago
Yeah, this isn't just a one-time transient price spike that happened months ago. August fuel prices fell a lot (10.6%), a gift! — but core inflation erased all that progress, with a 0.1% month-to-month rise in the CPI overall. Food's up 0.8% in a month. Rent was up 0.7%. Cars were up 0.8%.

We probably can't rely on fuel prices falling 10% again next month.
2 comments
bryanlarsen 1362 days ago
The problem with core inflation is that it is a lagging indicator. Rent especially. If a landlord increases the rent on Jan 1 but your contract rolls over on Dec 1 that increase shows up in the December numbers.

And yes gas has already fallen 10% in September. From $4.087 in August to $3.677 today.

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landemva 1362 days ago
> fuel prices falling 10% again next month.

Mid-term elections are approaching and gas pump prices are an easy talking point. With SPR releases, why won't USA fuel prices drop?

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fennecfoxen 1362 days ago
Okay, you've convinced me. Now how about the month after that?
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landemva 1362 days ago
No idea. Which circus tribe will be in charge?
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endtime 1362 days ago
Probably not the one who can make the SPR never run out.
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