Consumer price increase is “Only” 8.5% this month, and we’re supposed to be happy about it?

🚨BREAKING🚨

CPI comes out at 8.5%, estimated 8.7%

— unusual_whales (@unusual_whales) August 10, 2022

When the stock market rises 2% after inflation comes in at 8.5%, you know the system is broken.

We are truly trading in a historic time which will be referenced for decades to come.

— The Kobeissi Letter (@KobeissiLetter) August 10, 2022

Notice the media is slow to even report the numbers now and even when they do they try to couch it as being “less than expected”, as if we are supposed to be relieved.

https://www.cnbc.com/2022/08/10/consumer-prices-rose-8point5percent-in-july-less-than-expected-as-inflation-pressures-ease-a-bit.html

But as anyone knows who has gone to a grocery store or even a fast food restaurant prices are CONTINUING TO RISE and there is no end in sight. Utility costs, used cars, very few can even afford a new car now.

BUT WAIT: Democrats just passed the “Inflation Relief Act”….everything is fixed now…who knew all we had to do was for our government to spend even more money! We can all relax now…..

Average rent for a one-bedroom apartment in Austin, Texas has more than doubled year-over-year https://t.co/4KvaY7JNX2

— Bloomberg Wealth (@wealth) August 10, 2022

Average rent for a one-bedroom apartment in Austin, Texas has more than doubled year-over-year https://t.co/4KvaY7JNX2

— Bloomberg Wealth (@wealth) August 10, 2022

Love how people are claiming peak inflation is bullish 🤣 pic.twitter.com/ng3vyaPutF

— Financelot (@FinanceLancelot) August 10, 2022

Rent inflation up 6.31% Y/Y, up from 5.78% in June and the highest since the early 1980s

shelter is down mom.. lol

so now biden can say hey look inflation is down

— Alessio (@AlessioTMAD) August 10, 2022

https://twitter.com/NorthmanTrader/status/1557353704621228033

Price increases over last year:

Fuel oil: +75.6%
Gasoline: +44%
Gas utilities: +30.5%
Electricity: +15.2%
Food at home: +13%
New cars: +10.3%
Overall CPI: +8.5%

— unusual_whales (@unusual_whales) August 10, 2022

A kind reminder that even if inflation prints at 0% month-on-month between now and December, CPI will still end 2022 at 6.3% (!!!) YoY. pic.twitter.com/BWViFMVqjB

— Alf (@MacroAlf) August 10, 2022

h/t FeedYourHead