Inflation . . .

[Sope Creek]

It's down to 4%, so the Fed's interest rate increase policy seems to have worked.

Inflation rose at a 4% annual rate in May, the lowest in 2 years

The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.

www.cnbc.com

I'm surprised this news hasn't been reported on this board, given the interest the topic garnered before.

 

[Bulk VanderHuge]

It's down to 4%, so the Fed's interest rate increase policy seems to have worked.

Inflation rose at a 4% annual rate in May, the lowest in 2 years

The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.

www.cnbc.com

I'm surprised this news hasn't been reported on this board, given the interest the topic garnered before.

It used to be the economy...now it's all Hunter all the time.

 

[mcmurtry66]

It used to be the economy...now it's all Hunter all the time.

I like hunter. You see how he settled his child support thing. Gave that chick some paintings!! 🤣

 

[Sope Creek]

It used to be the economy...now it's all Hunter all the time.

@MyTeamIsOnTheFloor hasn't posted about gas prices recently. I guess the drop in energy prices doesn't fit the narrative.

Or that it's pretty darned clear that the Fed eff'ed up big time being asleep at the switch in 2019/20/21 . . . .

 

[mcmurtry66]

@MyTeamIsOnTheFloor hasn't posted about gas prices recently. I guess the drop in energy prices doesn't fit the narrative.

Or that it's pretty darned clear that the Fed eff'ed up big time being asleep at the switch in 2019/20/21 . . . .

What do you mean? Gas is still expensive as hell

 

[MyTeamIsOnTheFloor]

@MyTeamIsOnTheFloor hasn't posted about gas prices recently. I guess the drop in energy prices doesn't fit the narrative.

Or that it's pretty darned clear that the Fed eff'ed up big time being asleep at the switch in 2019/20/21 . . . .

The thread got buried by knee-deep bull-shit

Last fill up was $3.99, less .10 for shopping at Kroger

No narrative. Just fact.

 

[mcmurtry66]

It's down to 4%, so the Fed's interest rate increase policy seems to have worked.

Inflation rose at a 4% annual rate in May, the lowest in 2 years

The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.

www.cnbc.com

I'm surprised this news hasn't been reported on this board, given the interest the topic garnered before.

What’s interesting is how affordable consumer goods are. You can get a big tv, electronics etc for peanuts. Cars and houses forget it.

 

[UncleMark]

I'm surprised this news hasn't been reported on this board, given the interest the topic garnered before.

All the economic indicators are strong. Sucks if you want to claim that Biden is taking us down the road to ruin.

 

[UncleMark]

The thread got buried by knee-deep bull-shit

Last fill up was $3.99, less .10 for shopping at Kroger

No narrative. Just fact.

It was 3.35 in Bton yesterday. In Bedford I saw 2.99 for cash only.

 

[anon_6hv78pr714xta]

@MyTeamIsOnTheFloor hasn't posted about gas prices recently. I guess the drop in energy prices doesn't fit the narrative.

Or that it's pretty darned clear that the Fed eff'ed up big time being asleep at the switch in 2019/20/21 . . . .

Huh? We had $5 a gallon here recently.

 

[anon_6hv78pr714xta]

What’s interesting is how affordable consumer goods are. You can get a big tv, electronics etc for peanuts. Cars and houses forget it.

Saw a 70" 4K TV at Target the other day for under $500.

 

[UncleMark]

Huh? We had $5 a gallon here recently.

Something is out of kilter there.

 

[Marvin the Martian]

What’s interesting is how affordable consumer goods are. You can get a big tv, electronics etc for peanuts. Cars and houses forget it.

We have severely under built houses since 2008. Look at housing starts pre 2008 compared to post. I don't know what the fed can do to offset the housing industry was scared to death for 15 years.

 

[mcmurtry66]

Huh? We had $5 a gallon here recently.

Yeah crazy expensive

 

[mcmurtry66]

Something is out of kilter there.

Gas way up still here. Groceries. Houses. Cars. Gas was like 2 when Biden started his rhetoric.

 

[anon_6hv78pr714xta]

Something is out of kilter there.

Illinois Average Gas Price

	Regular	Premium
Current Avg.	$4.41	$5.13
Yesterday's Avg.	$4.41	$5.13
Week Ago Avg.	$4.42	$5.13
Month Ago Avg.	$4.39	$5.11

 

[Sope Creek]

Huh? We had $5 a gallon here recently.

Where's "here".

What's "recently"?

Gas prices have stabilized and energy costs are trending down . . . .

US Retail Gas Price Weekly Insights: Weekly Retail Gasoline and On-Highway Diesel Prices | YCharts

In depth view into US Retail Gas Price including historical data from 1993 to 2024, charts and stats.

ycharts.com

 

[anon_6hv78pr714xta]

Where's "here".

What's "recently"?

Gas prices have stabilized and energy costs are trending down . . . .

US Retail Gas Price Weekly Insights: Weekly Retail Gasoline and On-Highway Diesel Prices | YCharts

In depth view into US Retail Gas Price including historical data from 1993 to 2024, charts and stats.

ycharts.com

See post #16. Driving my kid to Dubuque, Iowa for a camp a couple of weeks ago through northwest Illinois, I saw $5 a gallon. I filled up at $4.98 at one spot.

 

[Sope Creek]

See post #16. Driving my kid to Dubuque, Iowa for a camp a couple of weeks ago through northwest Illinois, I saw $5 a gallon. I filled up at $4.98 at one spot.

That's "here"?

 

[mcmurtry66]

Where's "here".

What's "recently"?

Gas prices have stabilized and energy costs are trending down . . . .

US Retail Gas Price Weekly Insights: Weekly Retail Gasoline and On-Highway Diesel Prices | YCharts

In depth view into US Retail Gas Price including historical data from 1993 to 2024, charts and stats.

ycharts.com

Everything has “stabilized” as more expensive

 

[anon_6hv78pr714xta]

That's "here"?

Illinois is here for me. Not for you.

 

[Sope Creek]

Illinois is here for me. Not for you.

How much of that "price" is the gas tax?

BTW, I think you got robbed, even with Illinois gas taxes.

AAA Gas Prices

gasprices.aaa.com

 

[mcmurtry66]

Biden set out to be transformative and an argument can be made that he and his rhetoric and progressives have made everything worse for the poor and minorities. Life is way more expensive. groceries gas cars. the attack on cops contributed to higher violent crime. the woke stuff gave rise to backlash across the board that can hardly be deemed coincidental from the s ct. id say biden has been a total disaster for his own constituents

 

[anon_6hv78pr714xta]

Where's "here".

What's "recently"?

Gas prices have stabilized and energy costs are trending down . . . .

US Retail Gas Price Weekly Insights: Weekly Retail Gasoline and On-Highway Diesel Prices | YCharts

In depth view into US Retail Gas Price including historical data from 1993 to 2024, charts and stats.

ycharts.com

If you look at your link and the 5 year chart, you'll see current prices on avg in US are still above the 5 year average and 10 year average from here:

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

It's down from the peak last year, but still high in comparison to recent and long-term history.

Unlike most, I don't generally blame Presidents for this trend. I think bigger economic factors are probably driving most of that. Although administrations in particular states and their taxes surely explain the differences in prices between Georgia and Illinois, for example.

I don't know about energy costs in general. Hope that trend continues.

 

[anon_6hv78pr714xta]

How much of that "price" is the gas tax?

BTW, I think you got robbed, even with Illinois gas taxes.

AAA Gas Prices

gasprices.aaa.com

Wouldn't be the first time. But when you're on E and driving through small towns you do whatcha gotta do.

 

[Sope Creek]

If you look at your link and the 5 year chart, you'll see current prices on avg in US are still above the 5 year average and 10 year average from here:

U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

It's down from the peak last year, but still high in comparison to recent and long-term history.

Unlike most, I don't generally blame Presidents for this trend. I think bigger economic factors are probably driving most of that. Although administrations in particular states and their taxes surely explain the differences in prices between Georgia and Illinois, for example.

I don't know about energy costs in general. Hope that trend continues.

Yep. Considering inflation (round and round we go), gasoline prices are probably not even that in real terms.

Your point about Presidents and larger economic forces is well-taken. That said, I do think that programs like the Covid relief and PPP - and to an extent even borrowing $$ for tax cuts to goose the economy - could be infationary. We'd have to look at the data to see what the effect is . . . .

 

[Aloha Hoosier]

What do you mean? Gas is still expensive as hell

The gas is too damn high!

 

[Sope Creek]

Everything has “stabilized” as more expensive

Including wages . . . maybe you need to hire an agent . . . .

 

[Aloha Hoosier]

It was 3.35 in Bton yesterday. In Bedford I saw 2.99 for cash only.

You must use the cheapest at the pump.

 

[anon_6hv78pr714xta]

Including wages . . . maybe you need to hire an agent . . . .

For those of us who don't earn wages, this does not help.

 

[mcmurtry66]

The gas is too damn high!

It’s awful. Makes life hard. Had lunch with my asphalt co uncles this past week and they were throwing a fit. Makes for expensive bids

 

[mcmurtry66]

Including wages . . . maybe you need to hire an agent . . . .

No wages here

 

[Sope Creek]

You must use the cheapest at the pump.

You don't?

 

[mcmurtry66]

For those of us who don't earn wages, this does not help.

In that spirit health insurance has gotten painfully expensive too

 

[Aloha Hoosier]

You don't?

I wish.

 

[Bulk VanderHuge]

I wish.

 

[mcmurtry66]

I wish.

I use premium. I always wonder if it is a scam

 

[Aloha Hoosier]

I use premium. I always wonder if it is a scam

I think performance suffers with lower grades. I’ve tried and there is a bit of a difference.

 

[mcmurtry66]

I think performance suffers with lower grades. I’ve tried and there is a bit of a difference.

Good to know. Bc the price difference is significant

 

[UncleMark]

I use premium. I always wonder if it is a scam

Total scam. Idiot tax.