CPI posts biggest rise in 4 years - 3.3%

[papau]

http://money.cnn.com/2005/01/19/news/economy/cpi/index.htm?cnn=yes

CPI posts biggest rise in 4 years
Biggest annual gain since 2000 is capped by surprise decline in December as energy prices retreated.
January 19, 2005: 9:32 AM EST

NEW YORK (CNN/Money) - Consumer prices rose 3.3 percent last year, the biggest increase in four years, after a slight decline in December, the government said Wednesday.

Energy costs, which ballooned during the summer and fall months, were primarily responsible for the rise, the biggest since 2000's 3.4 percent gain.

But in December, a retreat in energy prices led the government's consumer price index to edge down 0.1 percent after a 0.2 percent increase in November. It was the first fall in CPI since July. Economists surveyed by Briefing.com had forecast an unchanged reading for December.

The so-called core CPI, which excludes often volatile food and energy prices, rose 0.2 percent in the month, matching November's increase as well as economists' forecasts.

For the full year, core CPI posted a 2.2 percent increase, the Labor Department said in its report.<snip>

[kick-ass-bob]

1. Good. I thought I was getting too much for my money.

:eyes:

[bemildred]

2. Leaving out food, shelter, and energy. nt

[Paleocon]

4. Who really needs that stuff???

They only calculate it based on "essentials"....

It's crazy isn't it?

[bemildred]

5. Crazy no; propaganda yes.

All of the public information streams we are supposed to rely
on to make decisions are now rivers of bullshit.

[Paleocon]

6. Gives new meaning to...

"Up shit's creek!"

I agree, I agree...

[DBoon]

3. Welcome back stagflation

We already have the flaired jeans and the platform shoes.

Is anyone calculating the "misery index"?

[stevebreeze]

7. income adjusted for inflation was 2.7% once again workers take it in the

chin! I know 0.6% doesn't seem like much but this is four straight years of declining income for working America. Four straight years of lower taxes for the rich. Four more years of bleeding the working to subsidize the rich.

link here.. http://www.cepr.net/Bytes/prices_byte_2005_19_05.htm

[oecher3]

8. did you see thephilly fed release today

that
http://story.news.yahoo.com/news?tmpl=story&cid=580&e=1&u=/nm/20050120/bs_nm/economy_dc
<...>
"The Philadelphia Federal Reserve (news - web sites)'s business activity index came in at 13.2 for January, marking the 20th consecutive month factories in the highly industrialized region of the United States expanded output. But the index was down from 25.4 in December, indicating that the pace of activity slowed considerably from the prior month.
The January reading also was the lowest in 18 months, and far lower than the 26.4 median forecast by economists.
<...>
The new orders component, a pointer on future growth, fell for the fourth month, to 9.8 in January from 20.9 in December."


How was that W stands for double-dip, and the second is always the hardest? Good luck, America! Let's go into Iran, maybe we get some oil money there for our economy.