Just a question ... how much of the 2.9% annualized GDP growth due to the over 6% inflation rate?

[Winco]

I purchased two measly medium size bags of groceries yesterday, a whopping $92

For most purchases Dems get to charge me sales tax on these inflated prices, assholes!

Depends on what you are buying.

I made chili, huge pot, with Chicken Breast, Onions (cheap), Canned Corn (Cheap), Lots of Canned Beans (cheap), Canned diced tomatoes, and made enough for 20+ servings.
Cost me $35.

 

[BluesLegend]

Depends on what you are buying.

I made chili, huge pot, with Chicken Breast, Onions (cheap), Canned Corn (Cheap), Lots of Canned Beans (cheap), Canned diced tomatoes, and made enough for 20+ servings.
Cost me $35.

Ah, that's not chili.

 

[Winco]

Ah, that's not chili.

It is to me.
I just got back from Texas, and got chili.
No beans, but way overrated.

What I call chili and the way I make it is way better than the chili I got in Texas.
I love Texas, but the Chili, meh.

 

[Indeependent]

Wow, Tech must really be sucking then. Id we grew at 2.9% and Tech has had like 30,000 layoffs in January they must be really bad at their jobs.

There is no entity on earth that needs 10K tech people unless they are using antiquated technology.
Any software department that has more than 20 people has people sitting around doing nothing, ala Twitter.

 

[Toddsterpatriot]

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period,
rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom

Now this is a fact... growth at 2.9% GDP.

My question is how much of the 2.9% growth is because of the following inflation at
"The annual inflation rate for the United States is 6.5% for the 12 months ended December 2022 after rising 7.1% previously, according to U.S. Labor Department data published Jan. 12. The next inflation update is scheduled for release on Feb. 14, 2023, at 8:30 a.m. ET.

Current US Inflation Rates: 2000-2024

The annual inflation rate for the United States was 3.2% for the 12 months ending February, compared to the previous rate of 3.1%, according to U.S. Labor Department data published on March 12, 2024. The next inflation update is scheduled for release on April 10 at 8:30 a.m. ET, providing...

www.usinflationcalculator.com

So if the GDP consists of goods and services produced, for example: Danny Nordman owns three gas stations in the West Texas metro
“We’ve raised the price of fuel as little as we could [and] absorbed the price increases to cut into our profits,” he said. “On Friday, the wholesale price went up 21 cents. … Our price at the pump went up 11 cents.” Why gas station owners would rather sell food than fuel
Did this 11 cents / gallon price increase become a part of the sum of goods and services that made up the 2.9% annualized growth of the GDP?

Now the experts say:
Gross domestic product (GDP) in the United States represents the total aggregate output of the U.S. economy. It is important to keep in mind that the GDP figures, as reported to investors, are already adjusted for inflation. In other words, if the gross GDP was calculated to be 6% higher than the previous year, but inflation measured 2% over the same period, GDP growth would be reported as 4%—or the net growth over the period.

The Importance of Inflation and Gross Domestic Product (GDP)

Learn the underlying theories behind these concepts and what they can mean for your portfolio.

www.investopedia.com

So..... GDP growth according to the above was 2.9%
Inflation for 2022 was 6.5%.
So was there any real growth not accounted for by inflation? It appears NOT!

how much of the 2.9% annualized GDP growth due to the over 6% inflation rate?​

None.

 

[Toddsterpatriot]

So you are saying that 2.9% is AFTER subtracting 6.5% inflation value? That would make the before adjusted figure of GDP being 9.4%

Duh!