These are the following CBS Mornings’ lead, ABC’s Good Morning America used the .6 percent drop in inflation for July to declare firmly that “we’ve turned a corner on inflation” ahead of the midterms that are set to handily strip Democratic control of the House. They were also bold (or desperate) enough to suggest that paying over $4 a gallon for gas “feels like a bargain.”
Cecilia Vega (White House correspondent) projected her wash casting as the fill-in host. “We’re going to turn now to these rising prices in the hope that just maybe, maybe we are turning a corner,”She hoped. “These new numbers show inflation jumped 8.5 percent from a year ago, but that was less than expected. A potential slowdown due in part perhaps to some falling gas prices.”
Trevor Ault, a correspondent in Brooklyn, New York was standing outside of a Brooklyn gas station. She offered her assistance. Ault was trying to obscure the truth by spinning his tires. “[A] gallon of regular will set you back $4.15, which for New York City compared to earlier this summer, I got to tell you, it feels like a bargain,”He exclaimed.
Ault tried to smoothen things by reminding people how high the prices were before they got marginally better, while ignoring the fact that President Biden and Democrats have caused prices to rocket since he assumed office.
All of us remember June, when gas prices were above $5 per gallon. It’s now at $4.49 per gallon, or $3.99. The July gas price drop was 7.7 percent. The average price of a gallon for gas in Texas is $3.49.
But it’s not just gas prices getting cheaper. Airline fares, used cars and trucks, communications like computers, internet – they’ve all gotten cheaper too, along with apparel.
Rebecca Jarvis, chief business correspondent was next to Ault and was more enthusiastic in proclamations of inflation and economic growth.
“[T]His report provided relief to Wall Street. Yesterday’s report showing inflation up 8.5 percent versus a year ago (…) And the way Wall Street sees this is thatWe’ve made a turn, inflation is at its peak. And as you just heard there from Trevor, a big reason for that is gas prices,”Her words were praised.
And despite admitting “we’re not out of the woods yet” because the prices for “groceries and shelter” are still high, Jarvis insisted “we’ve turned a corner” on inflation.
Target and Apple sponsored this gawking about the economic state. They are linked to their contact information.
You can find the transcript below. To read it, please click on “expand”.
ABC’s Good Morning America
August 11, 2022
Eastern, 7:08:25CECILIA VEGA: We’re going to turn now to these rising prices in the hope that just maybe, maybe we are turning a corner. The new figures show that inflation rose by 8.5% compared to a year earlier, although this was lower than we expected. Falling gas prices may have contributed to a possible slowdown. Trevor Ault, a New Yorker is visiting a New York station with some helpful information. Hey, Trevor.
TREVORAULT: Cecilia! This morning, a gallon regular at the Brooklyn Shell station will cost you $4.15. That’s a huge difference for New York City, especially when you consider how much it costs earlier in summer.
All of us remember June, when gas prices were above $5 per gallon. It’s now at $4.49 per gallon, or $3.99. The July gas price drop was 7.7%. The average price of a gallon for gas in Texas is $3.49.
But it’s not just gas prices getting cheaper. Airline fares, used cars and trucks, communications like computers, internet – they’ve all gotten cheaper too, along with apparel. We still have some way to go before we can get to the point we are now. Cecilia, an average gallon worth of gas costing $3.18 in the past year, was $2.08. Cecilia.
VEGA: Yes, exactly. Thanks, Trevor, so much.
We’re going to turn now to Wall Street reacting positively to these new numbers and a potential inflation slowdown. Rebecca Jarvis, chief business correspondent is monitoring it from the stock exchange. Hey, Rebecca.
REBECCA JAVIS: Cecilia! Good morning, Cecilia. In a word this report was a relief to Wall Street. Yesterday’s report shows inflation increasing by 8.5% compared to a year earlier. This is still a lot lower than the June inflation rate of 8.5 percent a year ago. Wall Street thinks that this indicates that inflation has peaked and that we have turned the corner. Trevor just mentioned that gas prices are a major reason.
However, there are areas in the economy that remain much higher than last year. Food and shelter are two of these things. Economists say we are not yet out of trouble with inflation. According to Cecilia, TJ and other economists, we are likely to face mild recession.
About Post Author
You may also like
-
What Your Startup Should Know About Using a Local SEO Agency
-
The Importance of Professional Tree Removal
-
From Science to Storytelling: How Sara Winokur Brings Forensic Genetics to Life in Ivory Bones
-
What is an Electronic Flight Certificate? A Clear Explanation
-
Faith and Tattoos: Exploring the Intersection of Belief and Body Art