▲ 157 ▼ Monthly US consumer prices post first drop in four years as inflation subsides (www.reuters.com) submitted 2 years ago by fukhueson@lemmy.world to c/news@lemmy.world 32 comments fedilink hide all child comments
[–] fukhueson@lemmy.world [S] 11 points 2 years ago (2 children) I can say for myself, I'm certainly not apathetic towards progress. permalink fedilink source parent hideshow 4 child comments replies: [–] Addv4@lemmy.world 11 points 2 years ago (2 children) But is it really progress, or did the price of everything jack up an it has come down just a bit because companys are finally getting the blowback they deserve as consumers reduce spending? permalink fedilink source parent hideshow 4 child comments replies: [–] fukhueson@lemmy.world [S] 9 points 2 years ago* (1 child) Yes, that's progress. Consumer price index falls 0.1% in June CPI increases 3.0% year-on-year Core CPI gains 0.1%; rises 3.3% year-on-year Weekly jobless claims fall 17,000 to 222,000 Continuing claims decline 4,000 to 1.852 million permalink fedilink source parent hideshow 2 child comments replies: [–] Addv4@lemmy.world 2 points 2 years ago (1 child) While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn't truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I'm luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I've talked (in person) about the issue with is pretty negative about the issue. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago* Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help. https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/ On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments. permalink fedilink source parent [–] CaptainSpaceman@lemmy.world 6 points 2 years ago The problem is we've had huge inflation for a long time now. Itstacks and accrues and gets compounded, and wages just arent keeping up. Minimum wage went to 7.25 BEFORE the 08 housing crisis. permalink fedilink source parent [–] TheDemonBuer@lemmy.world 2 points 2 years ago (1 child) Well, congratulations on the good news, I suppose. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 1 point 2 years ago (1 child) If you're in the US, congrats yourself. permalink fedilink source parent hideshow 2 child comments replies: [–] TheDemonBuer@lemmy.world 5 points 2 years ago* (1 child) Don't get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I'm happy for those people. It's just that these numbers don't make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don't. I generally feel pessimistic, and these numbers don't change that. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing. permalink fedilink source parent
[–] Addv4@lemmy.world 11 points 2 years ago (2 children) But is it really progress, or did the price of everything jack up an it has come down just a bit because companys are finally getting the blowback they deserve as consumers reduce spending? permalink fedilink source parent hideshow 4 child comments replies: [–] fukhueson@lemmy.world [S] 9 points 2 years ago* (1 child) Yes, that's progress. Consumer price index falls 0.1% in June CPI increases 3.0% year-on-year Core CPI gains 0.1%; rises 3.3% year-on-year Weekly jobless claims fall 17,000 to 222,000 Continuing claims decline 4,000 to 1.852 million permalink fedilink source parent hideshow 2 child comments replies: [–] Addv4@lemmy.world 2 points 2 years ago (1 child) While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn't truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I'm luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I've talked (in person) about the issue with is pretty negative about the issue. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago* Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help. https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/ On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments. permalink fedilink source parent [–] CaptainSpaceman@lemmy.world 6 points 2 years ago The problem is we've had huge inflation for a long time now. Itstacks and accrues and gets compounded, and wages just arent keeping up. Minimum wage went to 7.25 BEFORE the 08 housing crisis. permalink fedilink source parent
[–] fukhueson@lemmy.world [S] 9 points 2 years ago* (1 child) Yes, that's progress. Consumer price index falls 0.1% in June CPI increases 3.0% year-on-year Core CPI gains 0.1%; rises 3.3% year-on-year Weekly jobless claims fall 17,000 to 222,000 Continuing claims decline 4,000 to 1.852 million permalink fedilink source parent hideshow 2 child comments replies: [–] Addv4@lemmy.world 2 points 2 years ago (1 child) While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn't truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I'm luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I've talked (in person) about the issue with is pretty negative about the issue. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago* Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help. https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/ On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments. permalink fedilink source parent
[–] Addv4@lemmy.world 2 points 2 years ago (1 child) While that is a better trajectory, I do kind of have the mildly pessimistic view that a large part of the costs of good going down isn't truly a positive sign for inflation, but the market forcing prices down due to decreased spending. I'm luckily in a decent position financially (my bills are paid, rent, while not cheap, is paid on time), but the cost of pretty much everything has become so much higher with not much of an increase in earning. If the minimum wage were forced up it would probably help, but idk, every person I've talked (in person) about the issue with is pretty negative about the issue. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago* Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help. https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/ On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments. permalink fedilink source parent
[–] fukhueson@lemmy.world [S] 0 points 2 years ago* Minimum wage has seen positive movement in 2024, granted not everywhere. And a federal would definitely help. https://www.epi.org/blog/twenty-two-states-will-increase-their-minimum-wages-on-january-1-raising-pay-for-nearly-10-million-workers/ On January 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases. In addition, 38 cities and counties will increase their minimum wages on January 1 above their state’s wage floors, adding to the number of workers likely to see increased earnings. In the absence of federal action, states and localities continue to take the lead in advancing fairer wage floors via legislation, ballot measures, and automatic inflation adjustments. permalink fedilink source parent
[–] CaptainSpaceman@lemmy.world 6 points 2 years ago The problem is we've had huge inflation for a long time now. Itstacks and accrues and gets compounded, and wages just arent keeping up. Minimum wage went to 7.25 BEFORE the 08 housing crisis. permalink fedilink source parent
[–] TheDemonBuer@lemmy.world 2 points 2 years ago (1 child) Well, congratulations on the good news, I suppose. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 1 point 2 years ago (1 child) If you're in the US, congrats yourself. permalink fedilink source parent hideshow 2 child comments replies: [–] TheDemonBuer@lemmy.world 5 points 2 years ago* (1 child) Don't get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I'm happy for those people. It's just that these numbers don't make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don't. I generally feel pessimistic, and these numbers don't change that. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing. permalink fedilink source parent
[–] fukhueson@lemmy.world [S] 1 point 2 years ago (1 child) If you're in the US, congrats yourself. permalink fedilink source parent hideshow 2 child comments replies: [–] TheDemonBuer@lemmy.world 5 points 2 years ago* (1 child) Don't get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I'm happy for those people. It's just that these numbers don't make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don't. I generally feel pessimistic, and these numbers don't change that. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing. permalink fedilink source parent
[–] TheDemonBuer@lemmy.world 5 points 2 years ago* (1 child) Don't get me wrong, if these numbers are indicators that some people are going to experience less stress and that they will be less overwhelmed or that they will be made to feel more secure in their financial situation, I do think that is objectively a good thing and I'm happy for those people. It's just that these numbers don't make me feel any better about the economy or my personal financial situation. Maybe I should feel better, but I don't. I generally feel pessimistic, and these numbers don't change that. permalink fedilink source parent hideshow 2 child comments replies: [–] fukhueson@lemmy.world [S] 0 points 2 years ago Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing. permalink fedilink source parent
[–] fukhueson@lemmy.world [S] 0 points 2 years ago Well, I'm sorry to hear that. I too hope this continues to unfold in the ways we're seeing. permalink fedilink source parent