nicetriangleUS inflation cooling as consumer prices rise moderately again
Higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture. #news
argv_minus_oneWho the hell is buying motor vehicles and furniture in this economy? We can’t even afford rent and food!
That’s the point.
Nobody can afford these goods, prices are falling.
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.
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.
Consumer spending in general is actually still quite strong, but the growth has slowed a bit.
Discretionary consumer spending, though? I’m sure consumer spending on food is plenty strong, because food prices are through the roof and eating isn’t optional, but what about nice-to-haves like TVs?