Thought you've seen inflation? Just wait! Consumer Prices Soar 6.2%

[ForsakenConservative]

That is precisely why it is allowed to happen-revenue. Problem is, they can’t lower interest rates any more, so eventually our greenbacks will be toilet paper (except you can’t do that either, it will clog up your sewage lines).

 

[Louro]

Relax, Relax the bill has just passed everything is going to be al alright. We just need to spend our way out of this mess.

 

[emapples]

Prices increased essentially 1% in September. That's 12% annualized, but we haven't seen the worst yet. As the supply chain continues to pile up at the ports and accross the country, we are going to see bigger spikes in the future. If there is something that you want to buy, it might be a good time before you see it go up 10%, 20% or double in the near future.



Consumer prices rose at their fastest rate in decades in October, data from the Department of Labor showed Wednesday.

The Consumer Price Index rose 0.9 percent in October from September, exceeding expectations for a 0.6 percent rise. Compared with the prior October, prices are up 6.2 percent, exceeding expectations for a 5.8 percent rise and the highest annual rate since 1990.

Excluding food and energy, two categories of goods that are central to the cost-of-living to households but are so volatile that economists look beyond them to see underlying inflationary trends, and prices rose 0.6 percent on a monthly basis and 4.6 percent annually. Both exceeded expectations.

Earlier this year, inflationary pressures were largely concentrated in a few areas of the economy, leading Fed officials and others to expect inflation to taper off when temporary supply bottlenecks cleared up and demand surges related to the reopening of parts of the economy subsided.

Instead, the tide of rising prices has accelerated, broadened, and become stickier. The Department of Labor described October inflation as “broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors.” Energy prices rose 4.8 percent in the month, with gasoline prices rising 6.1 percent compared with the prior month. The food index rose 0.9 percent in the month and 5.3 percent over 12-months, with food at home rising one percent on a monthly basis and 5.4 percent annually.

these numbers are fake, it’s actually much higher, gonna check shadow stats

 

[stevie_d]

What you’re seeing is devaluation of our currency (inflation is, for the most part, a lie).
If you ”rent” something of high value, it costs a lot of money to do it. Conversely if the item is of no or little value, the “rent” is low. This is how our interest rates work. The higher the rates, the more valuable the currency. Our currency has been in a death spiral since interest rates were essentially eliminated under B. Housein Obumma (Quantitive Easing, or printing from nothing). The only way to stop it is to raise rates, but government debt payments would skyrocket so they wont do it.
They are passing it like a hot potato, hoping “their guy” is not in office when the dollar finally craters.
Hang on and keep your powder dry, the republic is lost.

This.

 

[stevie_d]

these numbers are fake, it’s actually much higher, gonna check shadow stats

And this.

 

[SlugSlinger]

What I find interesting from this data is the staggering decrease in productivity in 3Q.

United States Economy at a Glance

www.bls.gov

 

[Mos Eisley]

I know some of you on here are way more stock market savvy than me, so what's your take on it? It seems white hot to me and destined to pop any time now. Especially considering what's going on. I redistributed my 401K to be much more conservative but still have around 50% of it at risk to the market. I'm a little ways out from retirement yet but I don't want to see what happened to a lot of folks back in 2009 timeframe happen to me.

 

[Raido Free America]

Great point! People forget about this until it’s time for the next inc

 

[TedKennedy]

Perhaps the calls for higher minimum wage, as well as workers choosing to stay home and draw benefits (not incurring daycare or transportation expenses at the same time) is a result of the devaluation of the dollar, rather than the cause of rising costs?

Seems to me like the low income folks staying home are making more sound economic decisions than us ******* that keep driving to work supporting them.

 

[Raido Free America]

Prices increased essentially 1% in September. That's 12% annualized, but we haven't seen the worst yet. As the supply chain continues to pile up at the ports and accross the country, we are going to see bigger spikes in the future. If there is something that you want to buy, it might be a good time before you see it go up 10%, 20% or double in the near future.



Consumer prices rose at their fastest rate in decades in October, data from the Department of Labor showed Wednesday.

The Consumer Price Index rose 0.9 percent in October from September, exceeding expectations for a 0.6 percent rise. Compared with the prior October, prices are up 6.2 percent, exceeding expectations for a 5.8 percent rise and the highest annual rate since 1990.

Excluding food and energy, two categories of goods that are central to the cost-of-living to households but are so volatile that economists look beyond them to see underlying inflationary trends, and prices rose 0.6 percent on a monthly basis and 4.6 percent annually. Both exceeded expectations.

Earlier this year, inflationary pressures were largely concentrated in a few areas of the economy, leading Fed officials and others to expect inflation to taper off when temporary supply bottlenecks cleared up and demand surges related to the reopening of parts of the economy subsided.

Instead, the tide of rising prices has accelerated, broadened, and become stickier. The Department of Labor described October inflation as “broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors.” Energy prices rose 4.8 percent in the month, with gasoline prices rising 6.1 percent compared with the prior month. The food index rose 0.9 percent in the month and 5.3 percent over 12-months, with food at home rising one percent on a monthly basis and 5.4 percent annually.

Joe Biden, on his very first day in office, canceled EVERY Trump executive order that allowed us to be energy independent, for the first time in 50+ years! That one act, GAVE OPEC BACK CONTROL OF SETTING WORLD CRUDE PRICES, AGAIN! Remember the 70's and 80's? Benchmark Crude Oil was $32.00 per bbl, on Nov. 6th, 2020, election day! Today one year later it is $84.00 per bbl. by next November it will be $150.00+ per bbl, that equates to $5.00 to $7.00 per gal. gasoline, and diesel Fuel! Thousands of items are made from, or with petroleum products, from paraffin wax in candy bars, to synthetic clothing, EVERYTHING that is transported depends on fuel to move it, and higher fuel prices cause an increase in the price of any goods transported, Natural gas has more than quadrupled since election day, for the same reason, Biden BOSSES cutting back on drilling and pipeline construction, for environmental reasons? As Creepy Joe would say, COME ON MAN, GIVE ME A BREAK!!! Is YOU paying two, or three times as much for EVERYTHING, going to help the enviroment? ENJOY WHAT YOU VOTED FOR, OR FAILED TO VOTE AGAINST!