Key Fed inflation gauge at 2.2% in August, lower than expected

[progree]

12. Nothing in your OP or its linked article is inconsistent with ground beef being $9/lb somewhere

Some people just don't understand that overall, on average, prices are rising, and that's exactly what almost all [1] these inflation reports are saying -- even this one with a 0.1% month over month *RISE* in prices on average, and 2.2% year over year RISE in prices.

They seem to think a good inflation report, or one softer or better than expected that the media is ballyhooing means prices are coming down. No, that's not what they mean, they mean they are NOT *RISING* AS FAST as expected or not rising as fast as before.

Nor do they understand that the Federal Reserve is targeting a 2% per year *RISE* in prices.

But oh well.

Oh, my last ground beef purchase, 85% lean was $6.49/pound on Sept 3. Last eggs were $4.49/dozen (yikes) Sept 18.

[1] (well there is occasionally a negative month-over-month number, but haven't seen a negative year-over-year (yoy) in years -- there were 3 months in 2015 when the yoy number was -0.1% or -0.2%, and several such months in 2009 in the aftermath of the housing bubble crash, but none since 2015 -- looking at the CPI https://data.bls.gov/timeseries/CUSR0000SA0
)