Inflation Holds at 3.4% ROFL..hahaha... that's a good one.

[lib2DaBone]

June 13 (Bloomberg) -- Confidence among U.S. consumers fell to the lowest level since 1980 in June, hurt by record gasoline prices and a rising unemployment rate.

The Reuters/University of Michigan preliminary index of consumer sentiment fell to 56.7 from 59.8 in May. The measure averaged 85.6 in 2007. The report also showed the inflation rate that Americans expect over the coming five years held at 3.4 percent from May, the highest since 1995.

What's reported this morning is even more interesting, in that finished goods are up 7.2% over the past year. The index for gasoline rose 9.3% in May. Last week, the Labor Department reported that surging energy costs drove U.S. consumer prices higher by the fastest pace in six months during May.

[AndyA]

1. Typical Republican economy.

Bush's Daddy screwed it up as well. Why would anyone have expected something different with Lil Boots?

[electropop]

2. That's a poll of what we "expect" - not the actual rate.

but have you noticed they are talking more lately about "core" inflation, i.e., including everything except the things that have a high inflation rate? Another scam.

[kestrel91316]

3. 3.4% PER WEEK is more like it.

[nadinbrzezinski]

4. Bingo...

[leftofthedial]

5. now that they've successfully redefined "inflation" and "unemployment"

so that they no longer mean anything at all . . . check that. they now mean LESS than nothing. They deliberately mislead.

Who the fuck cares?

[raccoon]

6. Nobody but a fool, or somebody who never buys food or gas, would believe the official inflation

figures. Rec'd.