Inflation up in December

[Thinker101]

Inflation ticked up a little in December on the back of higher costs for housing and car insurance.

The overall cost of living in December was up 3.4% from a year ago, a slightly larger increase than the 3.1% rate in November, according to data from the Labor Department on Thursday.

The cost of motor vehicle insurance rose 1.5% in December from the previous month, marking a 20.3% increase compared to the previous year.

The cost of housing accounted for more than half the monthly increase in consumer prices. Food and energy prices were also up in December. The so-called "core" inflation rate, which excludes food and energy prices, was 3.9% last month.

Not to worry, I'm sure many libs got a 20 percent wage increase to offset their car insurance, and another 4% increase last month.

https://www.npr.org/2024/01/11/1224044520/cpi-inflation-december-labor-department-interest-rate-fed

 

[Harpy Eagle]

 

[Moonglow]

I pay sixty-one dollars a month for insurance on my car and truck...

 

[Harpy Eagle]

Not to worry, I'm sure many libs got a 20 percent wage increase to offset their car insurance, and another 4% increase last month.

You are not really very good at this math stuff, but I am sure you can flip a mean burger at Wendy's.

One would not need a 20% wage increase to offset their car insurance unless their car insurance was the same as their salary.

If my wage is $2000 a month and my insurance is $100 and it goes up 20% it is now $120. I only need a 1% wage increase to cover the cost of my insurance going up.

 

[Mac1958]

Economy's still too hot, even with interest rates where they are. 4.9% right now, and that needs to get back to 2.5% to 3.0%.

 

[my2¢]

Thank goodness with auto dealers' realization that people aren't going to stand in line to take a screwing their price gouging is coming to an end. This should help insurance costs.

 

[MarcATL]

Thanks for confirming that NPR is a good news source for you OP.

Now I know what to post for you when the news is that inflation is down, down, down.

 

[Auld Phart]

 

[airplanemechanic]

I pay sixty-one dollars a month for insurance on my car and truck...

30 year old cars don't cost much to ensure when you put the legal minimum on it. Doesn't mean its not going up. Homeowners insurance under Trump: 900 dollars a year. Same insurance under Biden: 2300 dollars a year. Car insurance under Trump: 27 dollars a month Under Biden: 49 dollars a month.

Yes, no matter how you want to do a CNN spin, inflation is killing America.

 

[Moonglow]

30 year old cars don't cost much to ensure when you put the legal minimum on it. Doesn't mean its not going up. Homeowners insurance under Trump: 900 dollars a year. Same insurance under Biden: 2300 dollars a year. Car insurance under Trump: 27 dollars a month Under Biden: 49 dollars a month.

Yes, no matter how you want to do a CNN spin, inflation is killing America.

Not my home owners insurance it was raised one hundred bucks in nine years, maybe you have bad credit.
I lived through the high inflation for a longer period before so I know what to do, plus there are lotz of jobs now compared to the Carter-Reagan era.

 

[airplanemechanic]

Not my home owners insurance it was raised one hundred bucks in nine years, maybe you have bad credit.
I lived through the high inflation for a longer period before so I know what to do, plus there are lotz of jobs now compared to the Carter-Reagan era.

My credit is over 800.

I have a bad president.

Lots of jobs that pay very little is not solving any issues.

 

[Harpy Eagle]

900 dollars a year. Same insurance under Biden: 2300 dollars a year. Car insurance under Trump: 27 dollars a month Under Biden: 49 dollars a month.

 

[Moonglow]

My credit is over 800.

I have a bad president.

Yeah, like presidents over charge you as a trillion or billion dollar corp would.

 

[Harpy Eagle]

Yeah, like presidents over charge you as a trillion or billion dollar corp would.

Didn't you know that the POTUS sets the rates for homeowner and auto insurance

 

[1srelluc]

I did a thread yesterday about higher insurance rates.....Not a whole lot of interest.....I bet there is today!

WSJ: Buying Home and Auto Insurance Is Becoming Impossible

https://archive.is/vmfXj After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option. The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn't given in to its...

www.usmessageboard.com

 

[Independentthinker]

Inflation ticked up a little in December on the back of higher costs for housing and car insurance.

The overall cost of living in December was up 3.4% from a year ago, a slightly larger increase than the 3.1% rate in November, according to data from the Labor Department on Thursday.

The cost of motor vehicle insurance rose 1.5% in December from the previous month, marking a 20.3% increase compared to the previous year.

The cost of housing accounted for more than half the monthly increase in consumer prices. Food and energy prices were also up in December. The so-called "core" inflation rate, which excludes food and energy prices, was 3.9% last month.

Not to worry, I'm sure many libs got a 20 percent wage increase to offset their car insurance, and another 4% increase last month.

https://www.npr.org/2024/01/11/1224044520/cpi-inflation-december-labor-department-interest-rate-fed

Don't worry. I heard it through a good source that it is only transitory.

 

[Edgetho]

I did a thread yesterday about higher insurance rates.....Not a whole lot of interest.....I bet there is today!

WSJ: Buying Home and Auto Insurance Is Becoming Impossible

https://archive.is/vmfXj After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option. The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn't given in to its...

www.usmessageboard.com

We tried, after Hurricane Donna back around 1960, to get a 'Cat' (catastrophe) Fund going but it didn't work out.

If an Insurance Company asks each customer for $10 to put in the Cat fund, that $10 is recognized as Profit by the State and Federal Governments' taxing agencies and by its own Corporate Charter.

So by the time you pay Federal and State Income Taxes, put it through the Corporate C-Corp process, pay dividends with it, etc, etc.....

You've got about 75 cents left.

We went to the Feds and they were fine with giving us special dispensation, rules that would allow us to set the money aside WITH the State treasurer, IN the State Treasury.

But the State of Florida at that time was run by dimocraps and they didn't want to hear it. So the Insurance Companies walked away.

Then Andrew hit. That shook everything and everybody up. Got it going.

There's not much DeSantis can do. He's trying but he's dealing with a seriously pissed off industry. One of the most powerful in the World. Everything runs on Insurance. Try starting a business without it. Try buying a home without it. Or a car. The world runs on it and we have totally ignorant dimocrap scum; and a lot of ignorant Republicans, that refuse to understand it.

It's not a matter of cost in South Florida anymore, it's a matter of not being able to buy it. At any cost.

My last Insurance bill on $300,000 of coverage was $4,700 a year. And I'm lucky to have that.

It gets more complicated than that but it's a mess. Mostly created by stupid politicians.

My boy, who is in Sales with the Country's biggest construction supplier, says he doesn't see an end to House Construction in South Florida. I concur.

People are so disgusted, so put off with what dimocrap scum politicians have done to the North, they're moving here regardless of cost.

 

[jbrownson0831]

My credit is over 800.

I have a bad president.

Lots of jobs that pay very little is not solving any issues.

Mine too.....and my car and homeowner's is way up through USAA even.
These Dims are brainwashed.

 

[Tom Paine 1949]

Economy's still too hot, even with interest rates where they are. 4.9% right now, and that needs to get back to 2.5% to 3.0%.

There is likely more inflation coming down the pike in Jan and Feb, especially as oil and commodities and logistics are likely to cost more (unless the Red Sea attacks end quickly), and of course the Ukraine War and substantial decoupling/reshoring from China (which actually internally is facing deflation) continues.

I agree the U.S. is in far better shape than Europe and third world states, or Russia, and even Asian allies like Japan and Korea and Australia will likely suffer worse economies than we in the next immediate period.

The idiots think it is all about President Biden, as if he invaded Ukraine or launched a huge terror attack from Gaza or is now responsible for Houthi/Iranian attacks in the Red Sea.

The traitors and friends of overseas authoritarians, MAGA types who want to abandon Ukraine and support Putin (with his allies Iran and North Korea and China) blame the Biden Administration for everything. I hold Biden responsible for mishandling the Southern border issue, but otherwise his administration and especially the Fed (so far) have helped the U.S. economy recover strongly.

Short term the U.S. economy is actually benefitting in some ways from Putin’s bloody invasion of Ukraine (our export hydrocarbon and war industries in particular), but the reality of increasing international decoupling, logistics and war ultimately works against economic progress and cause inflation. Factory building on the U.S. remains at very high levels, a good sign for the future.

One shouldn’t look only at the U.S. domestic economy or presently lower — thank heavens! — commodity inflation rates or the very high stock market or the still good labor market in the U.S. to conclude the future is rosy and Biden deserves all the credit.

Many things are outside the effective control of any President, and I personally think Biden will need a lot of luck and a very strong economy to win in November. Not at all sure he will get them.

 

[BluesLegend]

Never vote for Democrats on the economy, they tax and spend and wreck it.