CPI inflation passes economists’ expectations; highest in 13 years

[Legion]

The Consumer Price Index (CPI), a measure of U.S. economic inflation, continued climbing quickly in May, surpassing economists’ expectations for another month.

CPI rose 0.6% in May, according to Department of Labor data released Thursday, bringing the annual CPI increase to 5%, well over the 4.7% predicted by economists interviewed by The Wall Street Journal.

Core CPI, a measure of consumer good prices minus the more volatile indexes for food and energy, rose 0.7% in May after a 0.9% jump in April.

The jump in overall CPI is “the largest 12-month increase since a 5.4-percent increase for the period ending August 2008,” the Department of Labor reported.

The index for core CPI “rose 3.8 percent over the last 12-months, the largest 12-month increase since the period ending June 1992.”







https://www.dailywire.com/news/breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years

[Legion]

As the nation’s debt grows and the Federal Reserve keeps pumping money into the financial system, there's a growing body of evidence that the DEMOCRAT house of cards is wobbling.

Major economic indicators and announcements from small and large businesses suggest that inflation is surging past levels not seen in over a dozen years.

Consumer prices leapt 5 percent in May year-over-year after gaining 4.2 percent in April, with some sectors experiencing gains not seen in decades.

The growth of the money supply has been off the charts.

A survey by NFIB, the largest advocacy group for small businesses, found that 48 percent of businesses reported raising prices, compared with just 5 percent who reported lowering prices — the widest gap since 1981.

In addition, Factset found that in the first quarter, more S&P 500 companies brought up inflation in their earnings calls than any other quarter since the data firm began keeping track in 2010.

Many people — including the DEMOCRATS who happen to run our nation’s fiscal and monetary policy — aren’t taking the threat all that seriously.



https://www.nationalreview.com/2021/06/not-a-drill-inflation-is-here/

[Legion]

Costco is one of the largest retailers in the world.

As a business that deals in massive volume and relatively low margin, its executives have to be acutely aware of trends in pricing.

In last month’s earnings call, they were quite clear about where things have been heading. “There have been and are a variety of inflationary pressures that we and others are seeing,” Richard Galanti, the wholesale club’s Chief Financial Officer, said.

He continued:

"Inflationary factors abound. These include higher labor costs, higher freight costs, higher transportation demand, along with container shortage and port delays, increased demand in various product categories, various shortages of everything from chips to oils and chemical supplies by facilities hit by the Gulf freeze and storms and, in some cases, higher commodity prices".

In the previous call in March, he recalled being asked, “At what level we felt inflation was running overall at that time with our goods.” He explained, “I stated that our best guess was somewhere in the 1 percent to 1.5 percent range. As of today, we guess that overall price inflation at the selling level, and excluding our gasoline sales, would be estimated to be probably more in the 2.5 percent to 3.5 percent range.”


https://www.fool.com/earnings/call-transcripts/2021/05/28/costco-wholesale-cost-q3-2021-earnings-call-transc/


The Biden regime and Janet Yellen are committed to keeping interest rates depressed and quantitative easing high.

[goat]

As the nation’s debt grows and the Federal Reserve keeps pumping money into the financial system, there's a growing body of evidence that the DEMOCRAT house of cards is wobbling.

Major economic indicators and announcements from small and large businesses suggest that inflation is surging past levels not seen in over a dozen years.

Consumer prices leapt 5 percent in May year-over-year after gaining 4.2 percent in April, with some sectors experiencing gains not seen in decades.

The growth of the money supply has been off the charts.

A survey by NFIB, the largest advocacy group for small businesses, found that 48 percent of businesses reported raising prices, compared with just 5 percent who reported lowering prices — the widest gap since 1981.

In addition, Factset found that in the first quarter, more S&P 500 companies brought up inflation in their earnings calls than any other quarter since the data firm began keeping track in 2010.

Many people — including the DEMOCRATS who happen to run our nation’s fiscal and monetary policy — aren’t taking the threat all that seriously.



https://www.nationalreview.com/2021/06/not-a-drill-inflation-is-here/

You ain't seen nothin yet.

[Legion]

You ain't seen nothin yet.

I hope so.

The sooner the DEMOCRATS crash the economy, the weaker their illegitimate regime will become.

[Poor Richard Saunders]

[CENTER]]https://www.dailywire.com/news/breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years

It always helps to dig through the numbers instead of relying on a news service.
https://www.bls.gov/news.release/pdf/cpi.pdf

The interesting thing is that the inflation rate from May 2019 to May 2021 is 5.1%. 5.1% inflation over 2 years is not something to be too concerned about if the target is to keep inflation limited to about 2-3% per year.
https://www.bls.gov/news.release/arc...i_06102020.htm

[goat]

I hope so.

The sooner the DEMOCRATS crash the economy, the weaker their illegitimate regime will become.

We already know the dems will lose the house in 2022, so they can blame republicans for another war and more bank bailouts.

[Legion]

We already know the dems will lose the house in 2022

How? Won't H.R. 1 be law by then?

[Legion]

Home Depot, another mega retailer, smashed earnings forecasts because the company was able to successfully pass along to consumers staggering increases in prices for commodities such as lumber and copper.

Ted Decker, the company’s chief operating officer, told investors about the stunning cost of Oriented Strand Board (OSB), which most modern home builders use instead of plywood to help construct floors, walls, and roofs.

“At the end of the first quarter last year, a sheet of seven-sixteenths OSB was approximately $9.55. As we exited the first quarter this year, that same sheet of OSB more than quadrupled in price to $39.76.”


https://www.fool.com/earnings/call-transcripts/2021/05/18/home-depot-hd-q1-2021-earnings-call-transcript/

[goat]

How? Won't H.R. 1 be law by then?

HR1 is DOA.

[Legion]

HR1 is DOA.

Think so?

[goat]

Think so?

I know so. Dems are spineless twats.

[archives]

It always helps to dig through the numbers instead of relying on a news service.
https://www.bls.gov/news.release/pdf/cpi.pdf

The interesting thing is that the inflation rate from May 2019 to May 2021 is 5.1%. 5.1% inflation over 2 years is not something to be too concerned about if the target is to keep inflation limited to about 2-3% per year.
https://www.bls.gov/news.release/arc...i_06102020.htm

Are you saying that “copy and paste’s” “Daily Wire” may have reframed the statistics in order to propagandize the view they are selling? Ben Shapiro wouldn’t do that, would he?

Amazing all the shit that the MAGA militia swallow solely cause it tells them exactly what they want to believe, we’ve seen washed up Top 40 AM disc jockeys turn themselves into millionaires preying on their insecurities

[Legion]

I know so. Dems are spineless twats.

They are spinless twits who have the power to end the Senate's filibuster rule.

[Legion]

• Headline consumer prices rose 5% year over year in May, the fastest pace since August 2008 and higher than Wall Street expectations.
• The 3.8% rise in the core inflation rate, which excludes food and energy prices, was the sharpest increase in nearly three decades.
• Initial jobless claims totaled 376,000, higher than the estimate.

Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday.

The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier.

Economists surveyed by Dow Jones had been expecting a gain of 4.7%.

The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression.


https://www.cnbc.com/2021/06/10/cpi-may-2021.html