U.S. Consumer Prices Post First Drop In Nine Months On Gasoline

U.S. consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily. The Consumer Price Index dipped 0.1 percent last month, the first drop and weakest reading since March. The CPI was unchanged in November.  In the 12 months through December, the CPI rose 1.9 percent after increasing 2.2 percent in November. Excluding the volatile food and energy components, the CPI increased 0.2 percent, advancing by the same margin for a third straight month. In the 12 months through December, the so-called core CPI rose 2.2 percent, matching November’s increase.
 

  • Like 1

Share this post


Link to post
Share on other sites

Next month, this will be erased as oil is getting back to the $50/bbl WTI and $60/bbl brent range.

  • Like 1

Share this post


Link to post
Share on other sites

California still more than $3.50 per gallon....

Share this post


Link to post
Share on other sites

1 minute ago, pinto said:

Next month, this will be erased as oil is getting back to the $50/bbl WTI and $60/bbl brent range.

Spring and summer are coming so they need to cook up schemes to raise prices soon.

  • Like 1

Share this post


Link to post
Share on other sites

Thanks to market volatility and fears of a global economic slowdown on the horizon, oil took a 3 month beating....

  • Like 1

Share this post


Link to post
Share on other sites

Impossible to predict price, short-term, without an extreme event. It's been 2 mths since crude was at a mid-cycle peak. 2 mths. Hardly time to order a coffin for crude....

  • Like 1

Share this post


Link to post
Share on other sites

21 minutes ago, ThunderBlade said:

California still more than $3.50 per gallon....

oh gosh, I didn't think they used gasoline in Green Country. 

  • Haha 1

Share this post


Link to post
Share on other sites

On 1/11/2019 at 7:24 AM, Rodent said:

oh gosh, I didn't think they used gasoline in Green Country. 

Californians live on eco-goodness and other fairy tales from their virtue-signaling leadership. I have been told that ICE vehicles are as outdated as flip phones. It will be hard when they wake up to realize that their government is going broke and homelessness is rising as they demand solar on all new homes. The prices are out of sight. More than one family living per home in many instances. Mobile home parks for the rest who can afford them. 

Share this post


Link to post
Share on other sites

(edited)

11 hours ago, ronwagn said:

Californians live on eco-goodness and other fairy tales from their virtue-signaling leadership. I have been told that ICE vehicles are as outdated as flip phones. It will be hard when they wake up to realize that their government is going broke and homelessness is rising as they demand solar on all new homes. The prices are out of sight. More than one family living per home in many instances. Mobile home parks for the rest who can afford them. 

Thanks for your California concerns. There are some other factors worthy of consideration. CA. is home to many of the tech companies we use every day: Google, Facebook, LinkedIn along with hardware companies like NVidia, Tesla, Space X and Apple. Entry level salary for engineers is $100,000 - to start, with no experience. Given that most of these companies don't have enough engineers and are hiring, one can imagine what that does to the housing market for non-engineers. Every time you do a search on Google or a like on Facebook, someone's rent goes up in CA. That is the price of tech's success in the state. A single bedroom apartment costs $2400 on average. No dishwasher.

As for eco-goodness - there just aren't that many "water" planets available, as my friend's 8 year old observed. I wish there were. Mars sounds pretty terrible, avg. temperature of -81 F and toxic atmosphere. I'd rather live on earth. If something is rare as gold, people tend to take care of it. It is human nature. If people want to keep their place habitable, I can live with that.  I like to tell myself that in 300 years we will still have plenty of oil that I love, but that sounds like a bit of a personal fairy tale. Oil is finite, but humans want to live forever.

Edited by Hate me Instead
  • Like 1

Share this post


Link to post
Share on other sites

(edited)

I value the environment as much as anyone but it needs to be properly managed to preserve it and put it to use for mankind. Finding the proper balance is difficult. My problem is with those who oppose natural gas because it is a "fossil fuel" even though it is continuously created and is what plants breathe. I promote the use of natural gas as a way to decrease the use of coal, diesel, and gasoline. I am not against solar or wind turbines but don't think they are as important to advocate and are not as competitive.

I lived half my life in California and winter there. I moved to rural Illinois in 1987 and still reside there. Both states are near bankruptcy due to being run by liberals. They bought many of their votes by overpaying the state government employees and giving them unrealistic pension and medical programs which are now running out of money. 

Here is a little of my gratis work from 215 topics. 

The Natural Gas Revolution https://docs.google.com/document/d/19Yf0MWpo91vrlu-mmJtjB1ERukjJo5W41oi4RZVQBug/edit

Water Conservation https://docs.google.com/document/d/1s6vxrBPC_8XYQgSNK7-UuNbqsdDKflhXPDeswYFKDt0/edit

Water Pollution https://docs.google.com/document/d/1wnuN1GalCVab1WBYke-9dUrQQ4Wmdf_YN_E9cBPiVzo/edit

Worldwide Air Pollution https://docs.google.com/document/d/1NwglGIAHP9lCTGgmUxz7sD5l1qUQqN3o0IwwXsqAb1U/edit

Global Warming

https://docs.google.com/document/d/1B7YYeQTmESPhjlS_dj4zMTxWOiJhmLjxN1I_1NJcJFY/edit

Edited by ronwagn
reference

Share this post


Link to post
Share on other sites

On 1/11/2019 at 8:28 PM, Pavel said:

U.S. consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily. The Consumer Price Index dipped 0.1 percent last month, the first drop and weakest reading since March. The CPI was unchanged in November.  In the 12 months through December, the CPI rose 1.9 percent after increasing 2.2 percent in November. Excluding the volatile food and energy components, the CPI increased 0.2 percent, advancing by the same margin for a third straight month. In the 12 months through December, the so-called core CPI rose 2.2 percent, matching November’s increase.
 

 

On 1/11/2019 at 8:31 PM, pinto said:

Next month, this will be erased as oil is getting back to the $50/bbl WTI and $60/bbl brent range.

(((Market volatility))) is coming.

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0