CPI report Wednesday is expected to show that progress on inflation has hit a wall

[1srelluc]

https://www.cnbc.com/2024/12/10/the-cpi-report-wednesday-is-expected-to-show-progress-on-inflation-has-hit-a-wall.html

• The consumer price index is expected to show a 2.7% 12-month inflation rate for November, up one-tenth of a percentage point from October. Core CPI is forecast at 3.3%, or unchanged from October.
• Traders in futures markets nevertheless are placing huge odds that policymakers again will cut their benchmark short-term borrowing rate by a quarter of a percentage point.
• The report will be released Wednesday at 8:30 a.m. ET.

A key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won’t lower interest rates next week.

The consumer price index, a broad measure of goods and services costs across the U.S. economy, is expected to show a 2.7% 12-month inflation rate for November, which would mark a 0.1 percentage point acceleration from the previous month, according to the Dow Jones consensus.

Excluding food and energy, so-called core inflation is forecast at 3.3%, or unchanged from October. Both measures are projected to show 0.3% monthly increases.

I said at the time that the Fed cutting interest rates 50 basis points was a very bad idea.....Gotta prop-up that stock market in time for the election don't you know.

I don't know but a pot of homemade Vegetable Beef soup cost me about $26.00 to make this past weekend. Oh it was good, but damn!

In summation, the .gov can take the so called "official" inflation numbers and shove them where the sun doesn't shine.

 

[Thunk]

So tomorrow we find out that inflation is static or rising...and the FED is going to CUT???

More sabotage of the incoming president!

 

[1srelluc]

Ouch, looks like the 50-basis point cut was ill advised.....They have hit a wall.

It came in this morning as expected.....Before the "revisions" of course.

 

[initforme]

Now some will tell us how increasing wages leads to inflation. That's laughable. We've never needed a massive wage increase as much as we do today.