Is inflation still “transitory,” as the Federal Reserve and White House like to say? Not if you’ve been visiting the grocery store, gas pump, online retailer, or anywhere else across the U.S. economy. And not judging by Wednesday’s report on consumer prices for September, which showed the same rapid rate of inflation that has been apparent this year.
The Labor Department said the consumer price index rose 0.4% in September, up from 0.3% in August. This means the price level has increased 5.4% in the last 12 months and 6.5% on an annual basis so far in 2021. This is the largest year-over-year increase since 2008, and the details in the report add to the evidence that inflation is likely to be persistent.
opinion There are “opinions” and then there are lies. This is a pack of lies.
opinion FT 'Inflation drives up drillers’ costs in US shale patch' Ports clogged, Oil hits 80, Workers short, Supply Chains stuck, Groceries on Fire, Housing & Stocks bumping. Banks earnings strong. Stock Buybacks at highs. Fed doesn't see Inflation. Biden loves Spending & GOP nods
opinion Trump appointed Powell. Housing costs rising no surprise after a decade of practically zero interest rates and a lack of building multi-family housing for decades. Supply chain issues, shortage of semi conductor chips all. Result of the pandemic.
opinion Governments lie?
opinion The dirty little secret is inflation helps the government. As prices go up sales tax increases.
opinion Bitcoin fixes this…somehow
opinion Mexico is not paying for the wall and China is not paying for the Trump tariffs. The ignorance in this country is off the charts.
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Rising German inflation calls for 'noticeable wage gains', union chief saysRising inflation in Germany calls for 'clearly noticeable real wage increases', the chairman of services sector trade union Verdi said in comments released on Thursday. Inflation is rising worldwide. Major correction is overdue.
Source: Reuters - 🏆 2. / 97 Read more »
Inflation rises 5.4% from year ago, matching 13-year highWASHINGTON (AP) — Consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday , up slightly from August's gain of 5.3% and matching the increases in June and July, which were the highest since 2008. Why is this happening!! Yeah, no kidding. Everything is more expensive and it’s still going up. Liberal utopia. At least no mean tweets though
Source: AP - 🏆 728. / 51 Read more »
US CPI inflation metric rises 0.4% in September, more than forecastedInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. “Unexpectedly” 9月通胀意外回升，表明经济仍远未恢复正常 Because Trump supporters refuse to take the vaccine. Party over country continues to destroy quality of life in America.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inflation Remained High in SeptemberThe consumer-price index accelerated slightly in September, rising 5.4% from a year before as pandemic-related shortages of labor and materials continued to push up prices. “Slightly” coming in at 5% ? “Slightly”? High inflation is Biden's blatant taxes thanks to his economic mismanagement. Come to think about it, Biden achieves failure in every aspects of his presidency. What a waste of taxpayers' money paid to nourish decades of his political gigs!
Source: WSJ - 🏆 98. / 63 Read more »
Social Security recipients get 5.9% increase, but rising prices will offset the boostSocial Security recipients will receive an annual cost of living adjustment of 5.9% next year, the largest increase since 1982, the Social Security Administration announced Wednesday. I would argue that being able to pay for things despite of the inflation is a good thing Maybe not true because those on SS may not have the same buying patterns. Example- since retiring I only gas up my car every couple of months, and so on like that. Don't let this fool you. For some, like he elderly, that are on SS &food stamps, this increase will cause them to be over the monetary threshold & they will no longer qualify for food assistance. So in the long run they are losing.
Source: cnnbrk - 🏆 393. / 55 Read more »
US wholesale prices rose record 8.6% over 12 monthsWASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported Thursday that the monthly increase in its producer price index, which measures inflationary pressures before they reach consumers, was 0.5% for September compared to a 0.7% gain in August. Building Back Better! FJB No mean tweets tho Good job idiots
Source: AP - 🏆 728. / 51 Read more »