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Topic: Cheaper gas lowers
U.S. consumer prices 0.3% |
Cheaper gas lowers
U.S. consumer prices 0.3%
Associated Press, by Christopher S. Rugaber
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Original Article
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Posted By:Ribicon, 12/14/2012 2:02:20 PM
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| Washington — A steep fall in gas costs pushed down a measure of U.S. consumer prices last month, keeping inflation mild. The seasonally adjusted consumer price index dropped 0.3 percent in November from October, the Labor Department said Friday. Gas prices fell 7.4 percent, the steepest drop in nearly four years. That offset a 0.2 percent rise in food prices. In the past year, consumer prices have risen 1.8 percent, down from October´s 12-month increase of 2.2 percent. Excluding volatile food and gas, prices ticked up 0.1 percent in November and have risen 1.9 percent in the past year. Higher rents, airline
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Comments:
Posted for comic value; notice how they include or exclude key items such as energy, fuel, and housing in order to produce the desired results. Vast bulk of government-educated drones take news at face value, ignore rising prices everywhere.
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Reply 1 - Posted by:
pomom, 12/14/2012 2:07:41 PM (No. 9065657)
I can´t figure out what to do with the $5.00 I just saved on my last fill up. Oh yeah, I´ll save it to pay the extra taxes next year.
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Reply 2 - Posted by:
Rather Read, 12/14/2012 2:13:00 PM (No. 9065668)
Small consolation. Gas prices will will go up - way up and so will taxes. God forbid the government give up a ha´penny of revenue.
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Reply 3 - Posted by:
nimby, 12/14/2012 2:22:46 PM (No. 9065692)
The $3.25 I saved on gas went towards milk which is running at $4 a gallon.
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Reply 4 - Posted by:
grandpa, 12/14/2012 2:33:14 PM (No. 9065717)
So what caused this precipitous decline? The same thing that caused the previous steep rise: Wall Street Swindlers deciding to take some suckers to the cleaners by betting enough on the changes to make them happen. They profit both ways. Then after gas prices decline without any real drop in demand, they will start back up without any real increase in demand. Just the big boys having a little gambling fun and making a killing at the expense of the little guys again.
Yeah, we don´t want to raise their taxes; they create jobs by manipulating markets! Right!
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Reply 5 - Posted by:
civilservant, 12/14/2012 2:43:24 PM (No. 9065733)
IMHO, they are simply selling as much as they can THIS year, since the tax burden next year will destroy demand and profits for the company.
And they have to pay for exploration and extraction SOMEHOW.
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Reply 6 - Posted by:
Davids918, 12/14/2012 2:50:52 PM (No. 9065744)
This is THE issue for Republicans.
Affordable gasoline - drill more here and the costs aren´t as high to transport, to refine, etc...
And it´s jobs!
Pipeline, steel making, truck drivers, construction, refining, and lots more.
We are a consumption economy so higher price of gasoline will hurt the buying-power of the average American. Don´t forget that the Social Secuity tax will be restored to 6.2% which will be a bit less in our pockets come Jan 1st.
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Reply 7 - Posted by:
pineledger, 12/14/2012 3:41:16 PM (No. 9065847)
And cooks the books.
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Reply 8 - Posted by:
sgtfox of the jarhead clan, 12/14/2012 6:16:58 PM (No. 9066114)
Gas has to drop a long way before it hits the price when Bush left office at $1.84 per gallon.
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Reply 9 - Posted by:
oh-heck, 12/14/2012 6:33:33 PM (No. 9066153)
The real message is that the administration is cooking the books and the press is helping. The administration took food and fuel out of the inflation index in order that it not look too ugly. Now that gas is coming down somewhat but the rest is showing and an increase, the press dutifully reports that prices are lower. Swine.
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Reply 10 - Posted by:
Boneshaker, 12/14/2012 8:10:22 PM (No. 9066299)
Goes goes up to 225% of the 2008 price when Obama was elected and not a whimper from the MSM.
Then it drops back to only 200% of the 2008 base price and it becomes a national holiday.
Meanwhile, a pound of the cheapest ground beef is still pushing the $5 mark.
.
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Reply 11 - Posted by:
Islander, 12/15/2012 1:25:16 AM (No. 9066655)
Errr .... foaming at the mouth folks, Reality Check.
The reason prices are going down is because supply in the US is going UP due to the additional 1 million barrels/day production we´ve added over the past 2 years from the South Texas Eagle Ford and North Dakota Bakken shale formations.
Btw ... and imports have gone down an equal amount. That´s $86 million/day NOT leaving the US any more.
And we´re adding an additional ~50K/day more per month. Biggest bottle neck at the moment is we can´t build pipelines fast enough to carry it all to refineries.
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Reply 12 - Posted by:
Trigger2, 12/15/2012 4:16:56 AM (No. 9066750)
It´s only cheaper now. Congress is already eyeing raising federal taxes on it.
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