Current Events > Consumer prices up 4.2% in April as inflation speeds up

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SK8T3R215
05/12/21 10:16:52 AM
#1:


https://www.cnbc.com/2021/05/12/consumer-price-index-april-2021.html

Inflation in April accelerated at its fastest pace in more than 12 years as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday.

The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year earlier. A Dow Jones survey had expected a 3.6% increase. The month-to-month gain was 0.8%, against the expected 0.2%.

Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.

The increase in the headline CPI rate was the fastest since September 2008.

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Questionmarktarius
05/12/21 10:17:41 AM
#2:


Costs go up, prices go up.
That's just how it is.
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The Trent
05/12/21 10:18:06 AM
#3:




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Fam_Fam
05/12/21 10:18:46 AM
#4:


nice that means my stock prices should get inflated too.

sweet!

*checks portfolio*

oh fuck
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gunplagirl
05/12/21 10:18:52 AM
#5:


Questionmarktarius posted...
Costs go up, prices go up.
That's just how it is.
Damn I thought prices only go up if we raise the minimum wage. *Ahem* hey so how long has the federal minimum wage remained stagnant, btw?

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Webmaster4531
05/12/21 10:18:53 AM
#6:


SK8T3R215 posted...
energy prices jumped higher
I vaguely remember there's no inflation if you take energy out of the equation.
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Squall28
05/12/21 10:20:17 AM
#7:


It should've been obvious this was going to happen. I wouldn't be surprised if this completely negates the value people got from their stimulus checks

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WingsOfGood
05/12/21 10:20:30 AM
#8:


Questionmarktarius posted...
Costs go up, prices go up.
That's just how it is.

Wages go down
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Questionmarktarius
05/12/21 10:22:07 AM
#9:


gunplagirl posted...
Damn I thought prices only go up if we raise the minimum wage.
That's another cost, yes.

*Ahem* hey so how long has the federal minimum wage remained stagnant, btw?
Approximately twelve years.
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Doom_Art
05/12/21 10:23:35 AM
#10:


I eagerly await the transformation of the right-wing into deficit hawks again

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Questionmarktarius
05/12/21 10:24:53 AM
#11:


Doom_Art posted...
I eagerly await the transformation of the right-wing into deficit hawks again
That hasn't happened already?
GOP slacking off.
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FarFromFields
05/12/21 10:25:18 AM
#12:


Squall28 posted...
It should've been obvious this was going to happen. I wouldn't be surprised if this completely negates the value people got from their stimulus checks
Lmao do you have any idea how much gas prices would need to rise to cost us $2000

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Squall28
05/12/21 10:30:02 AM
#13:


FarFromFields posted...
Lmao do you have any idea how much gas prices would need to rise to cost us $2000

Is gas all you buy with your money?

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SK8T3R215
05/12/21 10:34:55 AM
#14:


Webmaster4531 posted...
I vaguely remember there's no inflation if you take energy out of the equation.

Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.

Literally the 3rd paragraph I posted.


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monkmith
05/12/21 10:36:46 AM
#15:


makes sense, we're comming off of 4 years of magic budgeting and republicans throwing money at corporations for funzies, everything compounded by a year of world wide pandemic.

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Bio1590
05/12/21 10:36:48 AM
#16:


FarFromFields posted...

Lmao do you have any idea how much gas prices would need to rise to cost us $2000

...when diesel goes up in price the cost to transport goods also goes up in price.
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Webmaster4531
05/12/21 10:36:53 AM
#17:


Squall28 posted...
Is gas all you buy with your money?
How fast is this going to destroy the stimulus's value? Ignoring the fact that it has priceless value because it was given in the middle of a pandemic and shutdown.
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Webmaster4531
05/12/21 10:39:35 AM
#18:


SK8T3R215 posted...
Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.

Literally the 3rd paragraph I posted.
One big reason for the acceleration was base effects at this time a year ago, the economy was hit with the worst of the Covid pandemic and inflation was unusually low.
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Questionmarktarius
05/12/21 10:39:47 AM
#19:


Webmaster4531 posted...
How fast is this going to destroy the stimulus's value?
Considering that transportation of goods is another cost that's passed on as price, it already has.
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Webmaster4531
05/12/21 10:43:01 AM
#20:


Questionmarktarius posted...
Considering that transportation of goods is another cost that's passed on as price, it already has.
I honestly didn't notice.
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Balrog0
05/12/21 10:44:05 AM
#21:


Almost like we're getting out of (what we used to call) a once in a generation recession

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Krojen
05/12/21 10:44:28 AM
#22:


Lockdown last April so duh. Next few month over month numbers are the ones to note before it cools off.

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Questionmarktarius
05/12/21 10:48:00 AM
#23:


Krojen posted...
Next few month over month numbers are the ones to note before it cools off.
May be an odd "zombie cat bounce" going on.
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Squall28
05/12/21 10:48:45 AM
#24:


Webmaster4531 posted...
How fast is this going to destroy the stimulus's value? Ignoring the fact that it has priceless value because it was given in the middle of a pandemic and shutdown.

Depends on how much they spend. If they're spending is 4.2% higher, then you can multiply their rate of spending by this amount and then compare it to the original amount until that number reaches 2k. Then consider that this number compounds upon itself since inflation keeps going up. I would guess it's around 1-2 years. About $47 k worth of spending. Might want to use average rate of inflation for comparison as well instead of 0, and use 2.2% or something.

Either way, not good for us. I was in favor of the stimulus, but wish it was more targetted towards people in need.


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CADE FOSTER
05/12/21 10:48:59 AM
#25:


tie the min wage to inflation guarantee inflation stops
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Heineken14
05/12/21 10:49:10 AM
#26:


I'm just glad we didn't raise wages. That'd make prices go up!
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Questionmarktarius
05/12/21 10:51:22 AM
#27:


CADE FOSTER posted...
tie the min wage to inflation guarantee inflation stops
...or quickly goes infinite.


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Bio1590
05/12/21 10:53:32 AM
#28:


Questionmarktarius posted...

...or quickly goes infinite.



This isn't even close to accurate
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Doom_Art
05/12/21 10:54:12 AM
#29:


"the economy is going to implode if poor people start making a decent wage sorry guys"

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SK8T3R215
05/12/21 10:58:41 AM
#30:


Webmaster4531 posted...
One big reason for the acceleration was base effects at this time a year ago, the economy was hit with the worst of the Covid pandemic and inflation was unusually low.

It was also up almost 1% from last month excluding food and energy so what is your point other than your first post being wrong?

The index for all items less food and energy rose 0.9 percent in April, its largest monthly increase since April 1982.

https://www.bls.gov/news.release/pdf/cpi.pdf

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Balrog0
05/12/21 11:06:03 AM
#31:


SK8T3R215 posted...
It was also up almost 1% from last month excluding food and energy so what is your point other than your first post being wrong?

The index for all items less food and energy rose 0.9 percent in April, its largest monthly increase since April 1982.

https://www.bls.gov/news.release/pdf/cpi.pdf

I'm not sure what point you're making. We started to see the impacts from covid at the tail end of March last year

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Webmaster4531
05/12/21 11:06:13 AM
#32:


SK8T3R215 posted...
It was also up almost 1% from last month excluding food and energy so what is your point other than your first post being wrong?
This is all pretty meh, no big deal.
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Balrog0
05/12/21 11:07:57 AM
#33:


Oh you're saying a big monthly increase is surprising? That's weird, the vaccines got approved for most adults last month. That's why I'm about to be fully vaccinated

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Questionmarktarius
05/12/21 11:11:36 AM
#34:


Balrog0 posted...
Oh you're saying a big monthly increase is surprising?
April is when "reopening" took off en-masse. A demand surge without a supply surge is just going to jack up costs.
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SK8T3R215
05/12/21 11:50:51 AM
#35:


Balrog0 posted...
I'm not sure what point you're making. We started to see the impacts from covid at the tail end of March last year

His post I'm replying to:

Webmaster4531 posted...
I vaguely remember there's no inflation if you take energy out of the equation.

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foreverzero212
05/12/21 12:30:28 PM
#36:


Take used cars out of the equation and there's like no inflation. It says they account for a bulk of the inflation numbers up 10% from the vehicle supply chain chip shortage. I know because I'm in the market for a used car :(

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Questionmarktarius
05/12/21 12:31:23 PM
#37:


foreverzero212 posted...
Take used cars out of the equation and there's like no inflation.
Cash for Clunkers was a disaster that keeps on disastering.
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SK8T3R215
05/12/21 12:40:59 PM
#38:


foreverzero212 posted...
Take used cars out of the equation and there's like no inflation. It says they account for a bulk of the inflation numbers up 10% from the vehicle supply chain chip shortage. I know because I'm in the market for a used car :(

They break that out to remove certain categories, taking out food, shelter, energy and used car/truck sales and MoM CPI increased by .7%.

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ROOTFayth
05/12/21 12:41:54 PM
#39:


oh wow, inflation, I'm shocked
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foreverzero212
05/12/21 12:47:48 PM
#40:


Questionmarktarius posted...
Cash for Clunkers was a disaster that keeps on disastering.
At least it brought us Cash for Chunkers.

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Webmaster4531
05/12/21 12:55:28 PM
#41:


So is anyone seriously feeling doom and gloom from all this data?
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monkmith
05/12/21 1:01:49 PM
#42:


Webmaster4531 posted...
So is anyone seriously feeling doom and gloom from all this data?
i've been feeling doom and gloom for the last 5 years, ever since i watched half the country elect a guy who was obviously going to fuck over everyone making less then 200k a year. this isn't even a blip.

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Balrog0
05/12/21 1:23:16 PM
#43:


SK8T3R215 posted...
His post I'm replying to:

My bad, I only saw the other one about the measurement issue regarding covid

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