Inflation Drops By Record Amount
Core Inflation Drops by Record Amount
Inflation at the wholesale level plunged at a record pace in October, led by big declines in the price of gasoline and new cars.
Wholesale prices fell 1.6 percent last month, tying the record decline set in October 2001, the Labor Department reported Tuesday. It was the second consecutive big decrease, following a 1.3 percent fall in September.
Both months were heavily influenced by falling energy prices. But underlying inflation pressures were held at bay last month as well. Core inflation, which excludes energy and food, dropped by 0.9 percent, the biggest one-month fall in 13 years. That reflected big declines in prices for new cars and sport utility vehicles as dealers brought back sales incentives.
Story Here
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WOW!!! Well we have a few thing's to celebrate before all hell break's loose on Capitol Hill. It will be sad to see this go.
Inflation at the wholesale level plunged at a record pace in October, led by big declines in the price of gasoline and new cars.
Wholesale prices fell 1.6 percent last month, tying the record decline set in October 2001, the Labor Department reported Tuesday. It was the second consecutive big decrease, following a 1.3 percent fall in September.
Both months were heavily influenced by falling energy prices. But underlying inflation pressures were held at bay last month as well. Core inflation, which excludes energy and food, dropped by 0.9 percent, the biggest one-month fall in 13 years. That reflected big declines in prices for new cars and sport utility vehicles as dealers brought back sales incentives.
Story Here
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WOW!!! Well we have a few thing's to celebrate before all hell break's loose on Capitol Hill. It will be sad to see this go.
posted by Marie's Two Cents | 8:18 AM
20 Comments:
I'm wondering three things. First how long into 2007 it will take for the Dems to claim credit for the booming economy that they have spent the last five years claiming was a disaster. Second how long it will take their liberal agenda of raising the minimum wage, repealing taxes and regulating business to stop and reverse the economy. Finally third, how long after they hurt the economy it will take them to blame the President for what they have done!
1. They will never admit the economy is good as long as Bush is Prez.
2+3.It will take until the next election cycle (1 1/2 years)to make the economy nose dive because of it's current strength and then they will use the spiraling economy to continue to bash Bush.
(eyes barely open but couldn't resist :-]
Inflation down, stock market breaks new record, unemployment 4%--women, minorities hardest hit.
Story on page A6.
Truth does not matter. Only politics matters. The Dems and their buddies in the drive by media will do and say what ever it takes to take and hold power. Thank God for blogers. We are the ones who can put it right again.
I guess you haven't checked the price of milk lately. Or bread. Or vegitables? My god!
And the stock market always does better when it anticipates that dems will be in controll - what do you think they're idiots? But don't take my word for it, look it up.
Wholesale prices have dropped, but consumer goods rose slightly in November.
Mudkitty is right with one thing, like milk(consumer goods), but Marie is correct as well, with vehicle prices and gasoline dropping in November.
The only thing that is going to stop the "teeter tot" trend of inflation, that has been happening for the past 30 some years, is to base the economy on a commodity instead of trust of people.
The unemployment rate is at a steady pace, which is good. The biggest disadvantage to the unemployment rate in the U.S., that it only includes workers that are collecting UC(unemployment compensation) benefits as part of the unemployed rate. Honestly now I feel that anyone that wants to work would be able to find something, especially if they are a skilled worker.
Countries in Europe usually attribute their unemployment numbers being so high because Unemployment benefits usually last a year or longer and they included the entire population.
TLLTCT,
I'm wondering three things. First how long into 2007 it will take for the Dems to claim credit for the booming economy that they have spent the last five years claiming was a disaster. Second how long it will take their liberal agenda of raising the minimum wage, repealing taxes and regulating business to stop and reverse the economy. Finally third, how long after they hurt the economy it will take them to blame the President for what they have done!
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1) They arent waiting till 2007, somehow they think this Booming Economy has something to do with them lol
2) About 3 minutes!
3) About 1 minute!
JG,
1. They will never admit the economy is good as long as Bush is Prez.
2+3.It will take until the next election cycle (1 1/2 years)to make the economy nose dive because of it's current strength and then they will use the spiraling economy to continue to bash Bush.
(eyes barely open but couldn't resist :-]
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Ha! My guess is alot earlier than that....See below.
Uncle P,
Inflation down, stock market breaks new record, unemployment 4%--women, minorities hardest hit.
Story on page A6.
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LOL you and that crazy line.
Now you know when the stock market and the economy are doing lousy under a Republican it would be on the Front Page of the New York Times, I bet this was on page 16!
Cliff,
Truth does not matter. Only politics matters. The Dems and their buddies in the drive by media will do and say what ever it takes to take and hold power. Thank God for blogers. We are the ones who can put it right again.
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True Cliff and somehow we will do that again!
Mudpuppy,
I guess you haven't checked the price of milk lately. Or bread. Or vegitables? My god!
And the stock market always does better when it anticipates that dems will be in controll - what do you think they're idiots? But don't take my word for it, look it up.
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Haha you are kidding right? This economy is kicking butt because of Bush's tax cuts!
You wacky Liberals lol.
Actually, Marie, the interesting part is how the Democrats aren't already taking credit for the drop in the inflation rate. After all, it was announced a whole week after they won the election!
They must be slipping.
The economy is kicking butt for those who can't tell the difference between Wall Street and Main Street.
If it were Clinton and the economy was doing this well the Dem's would be claiming credit for it. Since it is Bush, the sky is falling. Dems=Hypocrites
This comment has been removed by a blog administrator.
Mudkitty, do you know what the price of tea is in China? It's up from a year ago. So is the average wage for the middle class here in the US. Milk prices fluctuate with the market demand and other conditions such as cattle feed prices and weather conditions. The consumer price index is holding pretty steady and things are going about as well as some of the best times this country has ever experienced. It's good to be an American and I am unashamed to say so. The nabobs of negativty notwithstanding.
If you are so dissatisfied with this great contry then I suggest theat you go create your own Soviet Socialist paradise and send us a postcard to let us know how it is going. sheesh, why can't you libs enjoy freedom and the good life and quit screwing it up for the rest of us. Things can be better but things are good right now for most people.
Uncle P,
Actually, Marie, the interesting part is how the Democrats aren't already taking credit for the drop in the inflation rate. After all, it was announced a whole week after they won the election!
They must be slipping.
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LOL, well Mudpuppy is trying to slip one in there, misguided as he is!
Mudpuppy,
The economy is kicking butt for those who can't tell the difference between Wall Street and Main Street.
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Oh but if it was Clinton's economy everything would be just Peachy!!!
Face it, Tax Cut's Work!
Anon,
If it were Clinton and the economy was doing this well the Dem's would be claiming credit for it. Since it is Bush, the sky is falling. Dems=Hypocrites
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Hypocrites Indeed!!
JG,
You are on a roll I cant add to that lol.
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