Higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture.

  • nicetriangle@kbin.socialOP
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    1 year ago

    Whole lot of mixed messaging about the economy lately. I feel like they really cherry pick numbers sometimes. Groceries definitely don’t feel cheaper to me, I don’t give a shit how much a TV costs now.

      • BraveSirZaphod@kbin.social
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        1 year ago

        That was a shift from 0.2% to 0.3%, which still isn’t nearly as bad as it was. Things fundamentally seem to be trending in a good direction.

        • HubertManne@kbin.social
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          1 year ago

          yeah but we are talking on a monthly basis.3.6 compared to 2.4 over a year if the one kept up from the other and the 2.4 is more target. Granted inflation generaly exludes many necessities so even in low inflation day to day essentials like food and energy can be high.

    • ampersandrew@kbin.social
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      1 year ago

      That’s in line with the article. Prices aren’t going back down, but they’re rising slowly again, like we want them to.

      • argv_minus_one@beehaw.org
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        1 year ago

        Um, they’re still in the stratosphere. The price gouging never stopped. Yes, we want them to come back down to normalcy.

        • ampersandrew@kbin.social
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          1 year ago

          You don’t want deflation, no. I know we all want to pay less for the things we buy, especially necessities, but if your grocery prices, in general, came down in price, there’s a good chance that’s a reflection of worse economic conditions.

            • ampersandrew@kbin.social
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              1 year ago

              In general, it has. That doesn’t mean your boss gave you a raise, personally. That doesn’t happen a whole lot in the grand scheme of things. But we’ve measured that as people have changed jobs, average wages have increased.

              • argv_minus_one@beehaw.org
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                1 year ago

                Then why are only non-essentials like furniture coming down in price? Seems to me that nobody’s got any money to buy that stuff because everybody can barely afford rent and food, what with all the price gouging and wages not going up.

                • ampersandrew@kbin.social
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                  1 year ago

                  Interest rates are high, and large purchases like furniture and vehicles are typically bought on credit. So what may have been a lower monthly payment with hardly any money going toward interest is now significantly more interest and a high enough monthly payment to make you reconsider the purchase.

          • DrDeadCrash@programming.dev
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            1 year ago

            Prices go up, wages stay down; that’s how it’s supposed to work. Prices going down? My God, imagine things being more affordable!??!! It would break everything if people could afford their necessities. If people didn’t struggle for survival, they could start thinking about how things are being done, and how they could be done differently. So the answer is obvious: everything has to be made worse, continuously and iteratively worse over time. That’s the plan and it’s the best we can do, we are told. Isn’t strange how all of these market rules always favor the rich? Why do we have to do this over and over and over? Just for the rich.

            • ampersandrew@kbin.social
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              1 year ago

              If prices generally went down across the board, it would be indicative of producers being unable to sell their products, which means they produce less, which means they lay people off, which means we’re all out of work, which means we have no jobs or money, which means that a rich person’s incentive is to keep their money in a giant pile and not actually circulate it in the economy. With a little bit of inflation, the prices of things are stable enough for the average person to use currency without resorting to a barter system, and the rich person needs to invest their money in order to avoid the guarantee that they lose the value of that money to inflation. The report that we’re reading and commenting on shows a small real wage growth, meaning wages growing faster than inflation.

              • DrDeadCrash@programming.dev
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                1 year ago

                If prices generally went down across the board, it would be indicative of …

                This is always what gets said. The real truth is that prices can go up and down for a lot of reasons and this line gets used as an excuse for our attempt-infinite-growth economic mindset.

                … shows a small real wage growth, meaning wages growing faster than inflation

                This is due to the (temporary) shift of power to the workers during the pandemic. I personally believe this “inflation” we’re experiencing now is a direct reprisal for that very small and very late wage increase. Profits are soaring all over, but belts are being tightened for (seemingly unknowable reasons) coming down from C level.

                • ampersandrew@kbin.social
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                  1 year ago

                  I recommend you do some digging into economics as to why we avoid deflationary environments and why that is always said. Remember also that profits are measured against a currency whose value has been eroded by inflation as well. Inflation is a fact of life. No need to put it in quotes.

          • ripcord@kbin.social
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            1 year ago

            For things that went up 50% due to gouging and not inflation, like a lot of groceries, yes, we want that to go down.

            • ampersandrew@kbin.social
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              1 year ago

              We had one. The inflationary environment we ended up in as a result of the US government’s actions was considered preferable to a deflationary event.

    • cassetti@kbin.social
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      1 year ago

      My partner’s junk Hyundai Genesis that she loved died - the engine’s timing belt failed and destroyed the whole engine in the process. No new crate engines exist for sale so It was either spend $7500 on a used engine and hope it’ll last longer, or buy something else - it sucks as it was terrible timing all around.

      • SkepticElliptic@beehaw.org
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        1 year ago

        Yup, you’re supposed to replace those timing belts every so often so that doesn’t happen. I’m seeing recently sold engines on eBay for $1.5k -$3k so the quote you got was quite high since there shouldn’t be 40 hours of labor involved.

        • cassetti@kbin.social
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          1 year ago

          Wrong engine block. This was the 2.0 Theta II RS T-MPi used in the Genesis Coupe. That engine has a timing chain, rated to last the lifespan of the engine - and it sure as hell did because it took the whole engine with it! haha this was a garbage engine, they discontinued it years ago.

      • argv_minus_one@beehaw.org
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        1 year ago

        Well, that’s not a good thing. It means people are teetering on the brink of poverty, aren’t spending on anything but bare necessities, and that’s going to cause a major recession and put a buttload more people on the street.

    • SkepticElliptic@beehaw.org
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      1 year ago

      That’s what they’re saying, it just went up less compared to previous time periods. You will always have inflation unless something really bad happens.