Government says inflation is “under control” after produce prices jumped 38%...

[BADecker]

But inflation is really only about 8%. Biden said so, lol. And he is right. There are a whole bunch of products out there that nobody wants. And these products have come down in price so much that when you average it out, it's only an 8% increase over-all, lol.


Government says inflation is “under control” after produce prices jumped 38% in November (and 80% year over year)

Everything is just fine on the inflation front, we are now being told, even as the price of vegetables and other produce has increased by another 38 percent, according to the latest government data.

The U.S. Bureau of Labor Statistics (BLS) reported that in the month of November alone, prices on fresh farm goods increased by 38.1 percent compared to October. Over the past 12 months, vegetables are up a whopping 80.6 percent.

The situation is even worse for eggs, which are up an astounding 244 percent compared to 12 months ago. The cause, we are told, is “bird flu” – are you starting to see that their go-to excuse is always some mystery “disease” floating around the air?

Avian flu, the story goes, is responsible for the deaths of millions of chickens and turkeys across the United States. And many more millions, we are told, will probably die in the coming months – how convenient.

As for fresh produce, drought conditions in the western half of the country are supposedly responsible for those price increases. The results of one recent survey suggest that 74 percent of farmers in 15 western states “saw a reduction in harvests” in 2022.

The Fed is “almost out of ammunition,” meaning a full-fledged collapse is almost here

No matter how many nominal interest-rate hikes are imposed by the Federal Reserve, food prices appear to be pointed straight towards the moon. And you can expect all sorts of new excuses to emerge to explain away the financial corruption that is really the cause behind all this carnage.

We are told that domestic supplies of staple crops like corn, soybeans, and wheat are expected to “remain snug” into 2023. The U.S. Department of Agriculture (USDA) is forecasting that corn supplies will drop to a decade low before the 2023 harvest, while soybean stocks have hit a seven-year low.

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[Ultegra134]

I'm not really a fan of your topics, but you're right on this one. Inflation numbers are extremely inaccurate. Firstly, because they don't take into account gas and electricity prices, which are a huge burden for the household, and secondly, because this number is a mere statistical average of a huge number of products, some of which may have suffered only minor increases while other vital products such as milk, dairy, meat, or vegetables have noticed the most severe increases, often doubling in price in a little over a year.

[Hispo]

-snip-

I have also noticed that the account of the president of the United States on Twitter lately has been highlighting how this current administration has allegedly managed to decrease the price of the gas for the final consumer, political propaganda, I guess.
Last time I checked the Biden administration was over-using the strategic oil reserves, I am not sure about the merits on it.

The FED target inflation rate of 2% sounds like a far cry from the current situation at this point.



 

[Ultegra134]

-snip-

I have also noticed that the account of the president of the United States on Twitter lately has been highlighting how this current administration has allegedly managed to decrease the price of the gas for the final consumer, political propaganda, I guess.
Last time I checked the Biden administration was over-using the strategic oil reserves, I am not sure about the merits on it.

The FED target inflation rate of 2% sounds like a far cry from the current situation at this point.



 

I've also read about the USA using its strategic oil reserves in an attempt to artificially lower gas prices. I don't remember where I read it, but the article provided statistical sources proving that statement. Unfortunately, it's not only the U.S. president who's making such bold claims. In Greece, they've done practically nothing to alleviate the current situation. In theory, electricity prices are somewhat lower, but in practice, they are funding electricity providers by handing them millions of euros each month in order to lower the kWh prices to the final consumer. Don't get me started on anti-inflation measures for necessary products and groceries.

[Hispo]

-snip-

-snip-

I've also read about the USA using its strategic oil reserves in an attempt to artificially lower gas prices. I don't remember where I read it, but the article provided statistical sources proving that statement.

You can pretty much find news about the use of the USA strategic oil reserves around internet if you searching for it on Google. It was a important talking point of the Republican party against the Biden administration some months ago.

Here you can see the evolution of the reserves through years: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcsstus1&f=m

People are simply afraid this solution is mostly temporal, not long lasting and it was something made for the democrat Party to lower the gas prices right before the mid term elections in the United States.

[Mate2237]

Federal government, economic experts or financial analyst can't give the right or correct inflation analysis but the citizens or poor masses can tell you the real inflation in the country. Economics experts will tell you inflation base on the availability of commodities and rising of prices of good and services. But the poor masses will tell whether there is an inflation or not base the quantity of the products, cost of living and government policy for their survival.


What is an inflation to the masses is not an inflation and what is inflation to the government is not an inflation to the people. Therefor,what is an inflation is unknown. Because when there is an inflation the politicians do not feel it and the masses feel the pain.