“When prices go down that’s me!”
“When prices go up that’s Biden!”
“Sir it’s August 2025.”
“My beautiful wife will be suing Hunter for 1 billion dollars!” 🫲🍊🫱
"According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5 percent in July, compared to 0.2 percent for the broader food category. This capped an 11.3 percent increase over the past 12 months.
Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5 and 12.4 percent, respectively, both now at record levels."
The "Inflation Rate" is an average across all products
Except the official inflation numbers most often cited specifically exclude food, housing, and energy.
AKA the things people can't live without and that they spend the vast majority of their money on.
Which of course makes them utterly useless for anyone except the 10% or fewer who are rich enough that the majority of their spending is on less fundamental things.
That's not even a Trump kakistocracy thing, that's just one of the many ways in which the billionaire-owned media and ditto government have reinforced their "the economy" = "the metrics that matter most to rich people" swindle for decades if not centuries.
They use a "basket of goods and services" to calculate the Consumer Price Index (CPI), which measures the inflation rate in America. This basket includes items in major groups such as food and beverages, housing, transportation, medical care, recreation, education, and communication. It also accounts for taxes and fees directly related to these items but excludes income taxes and investment items.
Also, say you typically buy beef, pork, chicken, beef, salmon, avocados, cheese, nuts, beer, and wine and everything stays the same price except the beef, which goes up 15% per year. What are you going to notice? The beef, obviously. Is your perception going to be that overall inflation is 2% because only the beef went up, or is it going to be that inflation is out of control because beef went up 15% in just one year? Probably that inflation is out of control.
Humans are terrible at estimating inflation because humans have evolved to pay attention to things that change, and to not pay attention to things that don't change or that change very slowly.
No, it’s around a 45% hike. If you go by the total cost for each, it’s a 59.48% increase. But that ignores that the package on the right weighs more to start with - 4.88 lbs vs 4.48 lbs. If you compare the unit prices, the increase from $10.99 to $15.99 per lb is really 45.5%.
Sure, but that's a sample size of 1. And, were there other years where the inflation rate was 3% or something, but you personally had a rate lower than that? You might not have noticed because it's hard to notice when things aren't changing.
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“When prices go down that’s me!” “When prices go up that’s Biden!” “Sir it’s August 2025.” “My beautiful wife will be suing Hunter for 1 billion dollars!” 🫲🍊🫱
To be a fly on the wall when the Pedophile Jeffrey introduced the Prostitute Melania to Chomo Donald.
Chomo? Chode horror of missing out?
Had to look that one up. Apparently it's prison slang for child molester.
Remember they fired that woman for producing unapproved numbers.
They’re gonna be made up to some extent going forward.
Don't have to make up what you stop talking about.
They are already made up to an extent when they keep changing the assumptions behind the numbers. Now they just won't have any basis in reality.
The "Inflation Rate" is an average across all products.
Beef is way, way higher right now.
https://www.newsweek.com/beef-prices-all-time-high-tariffs-2112771
"According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5 percent in July, compared to 0.2 percent for the broader food category. This capped an 11.3 percent increase over the past 12 months.
Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5 and 12.4 percent, respectively, both now at record levels."
Except the official inflation numbers most often cited specifically exclude food, housing, and energy.
AKA the things people can't live without and that they spend the vast majority of their money on.
Which of course makes them utterly useless for anyone except the 10% or fewer who are rich enough that the majority of their spending is on less fundamental things.
That's not even a Trump kakistocracy thing, that's just one of the many ways in which the billionaire-owned media and ditto government have reinforced their "the economy" = "the metrics that matter most to rich people" swindle for decades if not centuries.
They use a "basket of goods and services" to calculate the Consumer Price Index (CPI), which measures the inflation rate in America. This basket includes items in major groups such as food and beverages, housing, transportation, medical care, recreation, education, and communication. It also accounts for taxes and fees directly related to these items but excludes income taxes and investment items.
Also, say you typically buy beef, pork, chicken, beef, salmon, avocados, cheese, nuts, beer, and wine and everything stays the same price except the beef, which goes up 15% per year. What are you going to notice? The beef, obviously. Is your perception going to be that overall inflation is 2% because only the beef went up, or is it going to be that inflation is out of control because beef went up 15% in just one year? Probably that inflation is out of control.
Humans are terrible at estimating inflation because humans have evolved to pay attention to things that change, and to not pay attention to things that don't change or that change very slowly.
good god thats a 58% hike.
No, it’s around a 45% hike. If you go by the total cost for each, it’s a 59.48% increase. But that ignores that the package on the right weighs more to start with - 4.88 lbs vs 4.48 lbs. If you compare the unit prices, the increase from $10.99 to $15.99 per lb is really 45.5%.
Lol I did not account For the weight of the meat, my bad
It’s all good!
Never trust statistics you didn't forge yourself.
I'm guessing most people don't know food price isn't calculated into inflation in the U.S.
https://en.wikipedia.org/wiki/United_States_Consumer_Price_Index#Item_coverage
That <3% still doesn't make sense, because my food and housing have gone up 50% in the last few years, and the rest sure haven't gone down
Sure, but that's a sample size of 1. And, were there other years where the inflation rate was 3% or something, but you personally had a rate lower than that? You might not have noticed because it's hard to notice when things aren't changing.
Ahhh yes ... ahem, that one totally slipped my mind :-)
Huh really? I too was unaware of this.
In a way it makes sense if it has it's own inflation statistic to work with but that also must ve used publicly then.
Can you comment on the Wikipedia article someone else linked where the first item included is "Food and beverages"?
Sure, the Wikipedia article is about the United States Consumer Price Index, which is not the same as inflation.
Maybe they are using the Argentinian method of measuring inflation?
Argentinian method?
Yes.
This predating them is proof positive that Milei and Trump aren't just wildly irresponsible narcissistic idiots. They're also unoriginal.
Haha. Y'all ain't started yet.
There was show "You Asked for It". I hope there is show called "You voted for this" in production.