Liberal Forum

Blackvegetable » 12 Jul 2024, 10:47 am » wrote: ↑

12 Jul 2024, 10:47 am

Issue...

Unlikely given that, by your own measure, you don't know ****.

From the embedded link in the cnn story:

"The Consumer Price Index, a measurement of the average change in prices for a commonly purchased basket of goods and services, dropped 0.1% from May, which helped to slow the annual rate of inflation to 3% from 3.3% in May, according to the Bureau of Labor Statistics’ latest report."

How a tenth of a percent price drop brings five months at 3.3% down to 3% is some mathematics they don't teach at the various JuCos and community colleges I attended. The way my math works, a growth rate of 3.3% per annum over a 5 month period would put prices up by 5/12ths of 3.3%, which comes to a 1.375% increase over those five months. So, a basket of goods costing 100 bucks on 1 January would cost 101.37(5) on 30 May. 

Okay, take one tenth of one percent of0 the cost off that basket, and that basket now costs 101.27(5). One tenth of one percent of 101.37(5) is a dime. Plus a bit over a tenth of a penny. A tenth of a percent drop in one month does not bring 3.3% inflation down to 3% inflation, as best my intermediate algebra chops can cipher. 

Another point to consider is this, from the same link: "Falling gas prices as well as a drop in new and used car prices helped to usher in the first month-on-month decline since May 2020, BLS data showed." When you consider that prices grew (at a rate not specified) for 48 straight months, a price drop of 1/10th OF A PENNY ON THE DOLLAR is not a reprieve from the bonfire.

Why don't you, as the Pride of Brown and a champion googler, DEFEND YOUR OP by showing us what I am missing and how the math ACTUALLY works?