In the latest round of statistics from the Bureau of Labor and Statistics (BLS) the March inflation data has been released [DATA HERE]. The Consumer Price Index (CPI) climbed 0.1% in March after advancing 0.4% in February. This puts the 12-month CPI outlook at 5% inflation. [See Modified Table A on Left]
A 4.6% decline in March gasoline prices was offset by higher rental and housing costs. That was the primary driver of the lowered inflationary data as gasoline is weighted heavier in the impact.
However, that said, gasoline prices are already rising again after Saudi Arabia and other OPEC+ oil producers early this month announced further oil output cuts. This puts the April CPI data (starting to be assembled this week) on track to increase over March.
Overall, in the big picture the data shows the plateau of sorts as we described for this spring. This plateau will be followed by another bump as a result of current input costs and prior energy costs traveling through the supply chain.
Energy services, electricity and natural gas, are stable but higher than last year. The crop cycles carry those increased costs from field to fork. Consumers cannot avoid those food prices increasing. The more processing involved in the food sector, the higher the price increase.
Housing increases are another unavoidable cost and generally cycle with a lag within them. As leases expire, the new lease rates increase accordingly. The same is true for insurance rates. Both unavoidable sectors have a rolling lag that hits the consumer upon renewal.
On the wage side [DATA HERE] wages went up .03% but the work week declined 0.3%. Essentially nullifying earnings growth with fewer worked hours. With inflation at 0.1%, real wages declined .01%.
For the total 12-month cycle noted by the BLS data, “real average hourly earnings decreased 0.7 percent, seasonally adjusted, from March 2022 to March 2023. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 1.6-percent decrease in real average weekly earnings over this period.” For the year, wages continue to fall far short of inflation; meaning real wages are negative. Actual real wage growth has been negative for 24 consecutive months.
The main street economy is feeling all of these impacts. The paper economy (Wall St) is not feeling these impacts at the same level. The chasm between the haves and have-nots is widening.
President Trump’s push for energy independence was greatly underappreciated. Lower fuel costs were a key factor in creating the strong economy we enjoyed under his tenure.
Unfortunately, the opposite phenomenon is being experienced with the current “administration” with the predictable devastating economic impact.
To keep gas prices artifically low, pedo puppet Joe used our strategic reserves and diluted with more ethanol. Our reserves are critically low.
#FJB
Gas here in Maryland jumped another 10 cents overnight… now $3.60 per gallon. so it’s up 40 cents over the last week.
Yikes! That’s a big jump 😡
The reserve had ZERO effect on local prices since most was sold to CHINA !
The Obvious no one talks about:
For the last 2 years dealers did not have any new car inventory to speak of & what they did have brought a premium.
Now, for the last 6 months, dealer inventory has been building & most lots are nearing capacity but manufacturers are already having to offer BIG incentives to move inventory. Whats that tell you?
Let’s Go Brandon FJB
😉🇺🇸
How much are everyone’s wages dropping in buying power – that is the people who still have a job…
I think about depression vs recession a lot.
Currently I am stocking up on items that I’ll need in the next several years that will stay good for a long time like toothbrushes and socks/underwear, spare shoes and jeans, etc.
The big box store we love to hate, wally world….if you wear a ladies size 7 shoe, even a 7 1/2, the boys size large athletic socks should fit you and are significantly cheaper in a 3 pack, than if you bought ladies socks. I bought a 3 pack, for I think 4.97 or so…they last forever. (Just threw out a pair I had bought several years ago).
I am trying to reduce the amount of stuff I have…but yes, I hear you….I have an old coat, 12 years old, its like an old bathrobe, I cannot bear to part with it…its ratty looking but still warm.
Thanks for the sock tip, Aggie. I’m a size 7!
Another tip for women for next winter…. Men’s large or extra-large thermal, long-sleeve undershirts come in a 3 pack of dark colors. I wear them to bed.
They’re warmer and roomier than women’s thermals in the same price range, long enough to cover one’s bum and also the sleeves are long enough to keep hands warm — important if your thermostat is turned down low.
Bought a pack of 12 boys cotton socks, cheaper than the thin mixed fiber women’s pack of of 3.
A serious speed walker, women’s socks last a year at most? Those boys socks 4 yo, still going strong. They are never machine dried, only air dried.
Good tip on the men’s thermal undershirts. Have already learned to wear long sleeve flannel shirt to bed with cashmere sweater (inherited) pulled over, and polar fleece hat (thrift store), wool socks (a gift), flannel long pants with snug cuffs at ankle (thrift store). Best find is vintage gorgeous huge wool blanket, zero blemishes, probably ca. 1940, $5 (thrift store), I top with down blanket (a gift). Really cold nites I add a wool dickie, alas, had to order online. Bedroom slippers are literally bedroom boots, dense fleece to the knees (thrift store).
Think I keep my house cold !
Learned, by accident, cold is important to our bodies in burning brown adipose fat, around our waste, efficiently.
“You’ll notice brown fat burning right before you start to shiver because the fat activates (turns on) in cold temperatures. It produces heat by breaking down blood sugar (glucose) and molecules of fat. This process (thermogenesis) creates heat to help you maintain your body temperature.Aug 7, 2022
Brown Fat, Brown Adipose Tissue: What It Is & What It Means ”
Hilarious. My home a spa treatment in winter. Zero exercise, cheaper heat bill.
Thermogenesis is why we keep our house cooler also.
I’m an old fella and I have seen a lot in my travels around the world. What I’m seeing in the last 15 years or so reminds me of the currency collapse of third world countries that led to hyperinflation. You might want to consider other items to stock up on and maybe for more than several years.
Barter at the corner impromptu flea market is the norm in these situations as cash is useless.
What about silver rounds (99.9% pure)? Still a good bargain @ $26.16 per ounce.
Good idea.
My son’s and daughter’s in law have stocked up ( via thrift stores and yard sales) clothing in sizes that the grand kids will grow into for quite a few years.
They do have a problem with getting nice shoes because they do not like to buy used shoes for the kids so that is an expense they have had to pay full price for.
Husband and I do not grow out of our clothing but it does wear out so I have tried to buy a few things to put back like you.
ColoradoChloe: For sneakers and casual / sporty shoes, check out SOM Footwear, based in Montrose, CO. They make minimalist athletic and lifestyle footwear, in Montrose–not overseas. Pricey, but, for real American products, sometimes, you need to pay up. I own two pairs and plan to buy a third.
SOM may have some sale items, too. It’s hard to keep kids in shoes for long, due to growth and wear.
I search American suppliers for all my clothing. Fun, sometimes interesting, but time consuming (online searches and research). I gladly pay a premium for apparel that is well conceived and built for the long haul. Clothing that wears out quickly is of no interest to me. Recently, I ordered a semi-custom rain parka from a company called Watershed, in Oregon. Great customer service, personal sizing, special features. Worth the extra money.
I’m saving food seeds that reproduce. Shoes are a great idea, all mine are heels. Not good! Thank you.
Stick to heirloom seeds!
Basically anything you know you will use, yes I have done the same.
Have an extensive Med kit, two actually. One for vehicle, one for home.
Lots of reserve meds, most have a LOOONG shelf life (except for antibiotics).
Tranny fluid (and no, I don’t mean Bud lite!) and filters, Oil last less long, however, about a year?
Radiator hoses, fan belts if stored properly, brake pads or shoes, etc.
The embarrassment pretending to be president and his fake administration, own the pathetic economy. And as much as they want to blame everything wrong on someone or something else, it remains their joke.
The Demented Fraud and his puppet masters are all part of the globalist (WEF) agenda for destroying America. Every one of these pieces of human trash are controlled by an evil even bigger than themselves.
That rotting sack of oatmeal in the WH will Blame Trump or Putin for the things he and the circus freak show administration have done deliberately.
They can “blame” all they want, but the logical unavoidable consequence of their systematic destruction of their credibility, is now apperent.
TOO many false narratives, one after the other, each eventually debunked, to the point that few believe anything they say.
Is it PDJT’s fault that they are losing in Ukraine?
If a whale “beaches” itself in Santa Monica, is that PDJT’s fault, too?
THEY are even losing the WH Press corps,..
“If I’ve lost Chronkite, I’ve lost America.”
It used to be (when elections were honest) bad economic conditions led to sure defeat at the ballot.
It used to be…
It used to be that the media reported on those bad economic times regardless of who was in the Oval, but they found out with Clinton-Gore, they could blatantly lie about the economy and get who they wanted in the White House.
I thought it was just Clinton-Gore given how the media collectively would get on their knees for him, but the same thing happened with Barky. Deflect any attention from the damage their policies cause, and he too can win re-election.
The media has gotten so much worse since then. Most people now are either working so hard to make ends meet, they don’t notice the lies they are told….or they vote for the current occupant promising them the most free sh!t.
Disgusting state of affairs.
Traditional political wisdom says that any President running for reelection, 1 year out with approval #’s below 40 percent can NOT win.
Used to be,…
Gas here in and around the Dallas TX metro has gone from the $2.40s in early Feb to the $3.40s as of this week. I’ve seen some stations sitting at $3.59
Porkchop…: In Los Angeles, gas prices have been inching up since around February. We’re back to nearly $5.0/gallon for regular unleaded to nearly $6.00/gallon, depending on location. Of course, higher octane is more expensive.
Feel fortunate, gas here in Washington State is $4/regular
50 cents higher than you, in Lynnwood…
Noticed that in North Houston area. Gone up from $3.15/gal to $3.35 in four short days.
Just left colo. Other than Sam’s club, gas prices were 3.75
Trump is the only answer.
Everything else is bull shit!
That’s how I feel.
Correct. There is no one that can assess and manage as he can. To think that Desantis or any of the others, could do what President Trump did on the world stage?? Not even.
DeSantis seems incapable of managing his own book signings.
Note to the BLS … here in CA … PG&E has been charging us 3x !! the market price for Nat. Gas. Why? Because they said they made a BAD deal for gas … and we have only ONE pipeline delivering Nat. Gas … and that the State has SHUT DOWN all Nat. Gas production in CA. And the PUC only cares about global warming … not the beleaguered consumer of fossil fuel energy.
and Dear BLS … have a look at the cost of gasoline in CA … highest in the nation BY FAR. The idea that energy costs have gone down MAY be true in bumwaddle, LA … but not here in N.CA. We’re getting HOSED … for ALL fossil fuel energy. And rents? Yeah … a shared bedroom costs $2,500/mo.
Your stats are rubbish for the 1/3 of the country living in Gavin Newsom land
That is what will happen to the entire country if Newscum becomes president. BTW, it’s not “fossil fuel.” Oil and gas does not come from rotting dinosaurs, it’s abiotic. We are swimming in oil. It’s just easier to drill/extract in some places.
I see these counter claims on ZH all the time. Would you please share some links if you have them to provide further insight?
Yup “fossil fuel” is a lie, unless their were dinosaurs on some of the moons of venus, cause they are swimming in so called “fossil fuels”.
Maybe in an Edgar Rice Burroghs series?
Ticks me off, every time I see that term “fossil fuels”.
I hear you. We are in one of the worst states at this point in time. Needs to be done, though and we are here for a reason. Whatever it takes.
We are under attack. Get seeds while you still can, and store them in the fridge in a sealed container if you have extras. You HAVE to do it.
He keeps saying “we.” “We” didn’t vote for insane spending, cutting energy production, or weaponizing justice. THEY DID ALL THOSE THINGS. It’s “They,” as in the oligarchy that lords over us and shoves all this insane nonsense down our throats. All of this talk of “democracy” makes me sick. We, as in the citizens, lost our democracy or republic decades ago. They just let us think we still have a country.
THEY (Dems, WEF) have changed the meaning of “Democracy”! Every time I hear it I say “Communism” to myself! WE need a new term for what the original meaning was or what WE consider “Democracy” to mean. Too many people are getting fooled by THEIR use of this term! Maybe “Constitutional Democracy” or similar.
Respectful suggestion to treepers: consider buying some of those clear containers that are waterproof, dust proof and yes, bug proof. The lids have blue foam cushioning around the perimeter. Have used these for four years now and not a critter to be found. I sprinkle diatomaceous earth (the human consumption kind) with cayenne pepper amidst the packets or whatever is in the containers. There are quite a few YouTube vids showing how to do this. Mason jars work as well.
Also, if you have family members like me who just won’t acknowledge what’s going on, and if you still love them despite their stubborn ignorance, buy some of those little toss-away containers. For sharing when the time comes.
We WILL get to the (what is it?) ant and the worm, or cricket, ??? stage at some point, and it might be good to start thinking about it, now.
You are the ant, putting up stores, and so when hard times come, you have some food to last.
But, the cricket (or whatever) ignored the obvious signs, put up nothing and now wants YOUR food.
Perhaps they are a relative or neighbor, perhaps a stranger.
Maybe they have a sob story, or something that evokes your sympathy.
IF you give them some of your food, you will run out sooner.
Perhaps this person will be desperate, violent even.
Best to think about these scenarios now, think it thru, talk with God, and mentally prepare yourself.
WHAT would you do?
Aesop’s story.. the Ant and the Grasshopper. Very appropriate for these times.
If the grasshopper shows up at my door, I will feed his hungry children under my watchful eye to make sure they eat. But the grasshopper should not have spent the summer getting paid $10 per ballot that put everyone in the situation we are in now. Stolen elections have consequences.
Re-post – Why are so many Democrats changing parties and becoming Republicans?
https://www.vox.com/politics/2023/4/11/23679162/louisiana-north-carolina-cotham-thompson-lacombe
Maybe to vote for DeSantis or the No Label party against Trump?
Actually, I am prepared to entertain the possibility that its genuine.
We saw earlier “waves” such as the Straka “walk-aways”; those were “lifelong moderate Democrats” and they were genuine.
Now, I think we are seeing “useful idiot” Democrats leaving.
Too much lieing to them, that they are now “waking up” to.
They aren’t MAGA, yet but they are just starting on their red pilling “path”.
Me too. I have liberal friends, a couple, who are rabid antiTrump but in contrast to 2020, now say they cannot trust the government in anything.
It’s a big step for them.
Gas up to $4.10 here in Central AZ, up 10 cents from yesterday. Thanks Brandon.
ABC channel 15 Phoenix, just reported gasoline is down 17.4%.
LSD for breakfast or in the bag for Brandon?
Haha ha ha ha … they’re GIVING AWAY gasoline in central AZ …
https://gasprices.aaa.com/?state=CA
I’m in New York City and a street vendor, who plays “where is the pea?” con game somehow attracts me. I go over to where he is playing his game. I ask to join, he readily accepts and says “come on it partner!” where I ask how much does it cost to get in this game?
He says: “How much you got friend?” I wager a small amount. I win…then I start to lose while I keep increasing my bets due to them telling me I could win back my lost monies with the next bet if I bet enough and …this is the amount!
I am broke, I am depressed. and I think I have been swindled.
Right you are that you have been swindled. I remember losing $20 when I lived in NYC. Another time I was watching them play follow the queen. After letting the mark win a couple of small bets, the dealer turns his back for a second and one of his partners crimps the queen. Now all bets get much larger and when the mark points to the crimped card ,it is no longer the queen. I remember walking away shaking my head and laughing. Pray and help others
Such is the nature of cons, that eventually they become too well recognised, and so they go thru a “makeover” where they change the furniture, but its the same con.
Originally, in the middle ages, it was 3 walnut shell halves and a pea.
After that ‘wore out’ they changed the furniture and it became “3 card monte” aka “find the Queen”; its the SAME CON, just changed the “trappings” and the schpiel, the patter used to distract the mark.
Exactly the same as Conmunism; the “ideology b.s. whether its Bourgerasie vs Proletariate, or Globalism its all just patter, designed to distract, divide and conquer, persuading the marks NOT to hand over their $, but their life and liberty.
I went grocery shopping this afternoon. People are walking around in a daze. It’s eerily quiet. Carts only have 5-6 items. We, on Main Street, know the economy is bad.
Also, at my local gas station the current price is $4.29 up 32 cents in 12 days.
Western Chicago suburbs.
April’s numbers won’t be good based on gasoline alone. Our stations are all up around 20 to 25 cents; even the ones in less expensive locations are over $3.30/gallon after being around $3.10 at the beginning of March and some around $2.90 at the beginning of the year. Shutting down processing plants to switch to summer blends doesn’t help.
Yes, I know a lot of you are paying more and are thinking, “Oh, cry me a river.” I’m just saying we are all going up.
Technical charting, breakdown versus SPX, Ichomoku Time Theory all point to the same thing. $90 per barrel by July/August, $140 Q1 2024, $180 Q4 2024.
Major producers are doing virtually no new development. All excess cash being returned to SH via dividends or share buybacks.
One doesn’t even need to understand anything about technical analysis to know this is not going to end well.
Let’s go Brandon
But old lady Yellen just told us the economy is going swimmingly.
It’s transitory.
Its trans something alright.
Yellen isn’t fit to be a 2nd grade teacher in a inner-city public school. She even makes Susan Collins look intelligent and that’s saying a lot!
Swimming downhill.
Swimming but going under
Unexpectedly.
In my world, the global pharmaceutical safety positions were taken away from USA due to reorganization including mine and given a severance package. Most new job opportunities in NJ for similar positions still ask about COVID vaccination status, even when remote in USA. Based on this experience looking for a new job, I think unemployment and economy is much worse than they are portraying! Or just posting jobs with no intent to hire!
Now that emergency powers were taken from Biden for COVID, will update if I see a difference on these requirements or if corporations are now setting their own standards for employment even with no federal government mandate and no ongoing pandemic….
Maria: Global Pharma (of which I, too, am a career veteran, including about a decade in NJ) is now more interested in ESG and DEI scores than in drug safety. Also, ever since the 1990s, top management has shifted to non-Americans, all of whom are globalists, more concerned about international capital markets and the World Health Organization, than about domestic US concerns.
If I were you, I’d get out. Either that, or, send my your CV!
Hi to maria and billrla! I am in same situation. Big pharma, in clin ops, but quit due to toxxine requirement (despite working from home!).
In january I started new job search. Have had one interview. I started changing my first name to an initial, and click ‘diversity’ website when asked how I heard of position. I am convinced they are hiring only young diverse unqualified candidates.
Two different recruiters told me that the hiring is paused/on-hold due to economy.
I don’t see rents or housing prices being able to go higher in the next year . They are already so high in swfl.Inflation will really depend on the price of gas. If it stays below $4 nationally it shouldn’t be too hard to get inflation to between 3- 4 %. Sadly the wh will act like that is some great achievement. They will want us to forget the minimum of 25 to 30 % increases on food and fuel over the last 2 years. Pray and help others
My Social Security benefits have increased for inflation each of the two years I have been collecting, but the income threshold for when the benefits are taxable (at 0, 50 or 85%) have not increased.
Some retired people may have to pay more in taxes, if they aren’t paying attention.
We can thank Joe Biden for that earnings limit. When he pushed and passed that legislation as a Senator, $20,000 in earnings limits was equivalent in today’s money to $89k a year.
It’s been more than 30 years I think. Time for Congress to get busy. There is no shortage of capable retirees willing to fill those job openings. Just barriers keeping us out.
So are we going to see home sale prices go way up (due to inflation) – or go down (due to higher interest rates and people having gless disposable income).?
At some point they will have to go down because disposable income will not cover interest and insurance and property tax costs.
For many people we are close. I’d say if you’re not upper middle class or above, you are priced out of many more neighborhoods than you were a year ago.
The space between Main Street and Wall Street was narrowing, during the 4 years of PDJT, and is now widening again under Brandon.
America has a phenominal economic engine, but Brandon is choking off the intake and sticking a potato up the exhaust pipe.
Situation brought on by Biden’s LTEC gang.
(let them eat cake)
It’s almost as if they can steer citizen spending, propping up one another cyclically.
The secret is the government needs inflation (weakening of purchase power of the dollar) to allow government to keep borrowing and pay their debt.
If one used 1980’s Inflation calculations, your dollar is worth 25% less over the past 2 years.
Of course, nobody’s salary went up that much. Nor did their government subsidies.
The bitcoiners, gold and silver folks have been warning of this fiat dollar concern for years. It’s only recently that the world has decided it needs other than US currency alternatives.
When that happens, and it will eventually, the US dollar and financial system will be in a whole lot of hurt.
I bond investors will see a 2.5% interest rate Drop may 1 (from 6.89% previous 6 mo)
6 mo t bill is 4.7%
better deal.
I agree with Sundance that inflation will not fall much further. Not just because of rising oil prices, but also because of other factors. Here’s an analysis of the current world economic situation with which I agree. It’s by Nouriel Roubini, who was nicknamed “Dr. Doom” by the media when he was successfully predicting the Great Recession of 2008 in advance:
This article made a segment of Real Americas Voice, American Sunrise this morning.
Keep up the great work Sundance!
I wonder what the inflation rate is between now and when Private Biden took office.