U.S. consumer prices post largest gain in 13 years;

[anatta]

In the 12 months through June, the CPI jumped 5.4%. That was the largest gain since August 2008 and followed a 5.0% increase in May. Excluding the volatile food and energy components, the CPI accelerated 0.9% after increasing 0.7% in May. The so-called core CPI surged 4.5% on a year-on-year basis, the largest rise since November 1991, after advancing 3.8% in May.
https://www.yahoo.com/entertainment/...124525292.html

[anatta]

FED says it wont last, Biden says it wont last.
https://www.yahoo.com/entertainment/...124525292.html
but there are signs that inflation is spreading beyond the sectors at the center of the economy's reopening, with consumers paying more for food, gasoline, rents and apparel last month. That could sharpen criticism of the very accommodative monetary and fiscal policies. COVID-19 vaccinations, low interest rates and nearly $6 trillion in government relief since the pandemic started in the United States in March 2020 are fueling demand, straining the supply chain.

[anatta]

he only people in the country surprised by the Bureau of Labor Statistics's latest numbers all just happen to be those responsible for our accelerating inflation problem. After years of near-zero interest rates combined with the federal government's $6 trillion spending bonanza, inflation has skyrocketed to its highest point since the Great Recession in 2008. From June of last year to this one, inflation has risen an extremely worrisome 5.4%.

The inflation doves relying on the Fed to fund their agenda with "free" debt will cry, yes, but the inflation is only bad because of a handful of industries! True, the sky-high price increases for gas (45.1%) and used cars (45.2%) are far greater than other categories delineated by the BLS, and it's a great thing that transportation only comprises a plurality of the budgets of us peasants. But even removing these items with the excuse of "volatility" paints a dire picture.

Inflation, sans food (up 2.4%), and energy costs (up 24.5% overall), still rose 4.5% from June of last year to this one, and it's worth digging into the numbers as a reality check that indeed confirms your life has gotten dramatically more expensive.

Phone bills are up 4.4% from a year ago, and likely thanks to the public school shutdowns, elementary and high school tuitions are up 3.1% amid a spate of new demand. Cable costs are up 5.1%, and physicians' services are 4.1% more expensive — and that's at the end of a pandemic. With local governments cracking down on vaping, cigarette prices are soaring, up 7.3% from last year, and the booze boom hasn't stopped, with alcohol prices up 1.9%.

And whatever money you saved shlepping in sweatpants for Zoom meetings will be spent quickly. Shoes are 6.5% pricier than last year, and men purchasing pants and women buying dresses to return to the office will find prices up 11.1% and 15.8% respectively. And overall household commodities such as furniture and cleaning products, even without energy prices, are up 8.7%.

Unless you have the privilege of working at one of the few companies that could afford giving raises in the past year, you have taken an effective 5.4% pay cut during a pandemic. Life got harder, and a combination of abysmal monetary and fiscal policy ensured it got more unaffordable. Our rulers may warn that fears of returning to the stagflation of the 1970s are overblown, but the numbers don't lie: It's 2008 again.
https://www.washingtonexaminer.com/o...m=article_rail

[Whythink]

So who takes the blame for trump's policies?

GOP/trump
DNC/President Biden

[anatta]

So who takes the blame for trump's policies?

GOP/trump
DNC/President Biden

Im assuming you are giving Trump credit then for the GDP ( v-shaped)recovery.

[Whythink]

Im assuming you are giving Trump credit then for the GDP ( v-shaped)recovery.

If the negative is because of all the "government hand-outs" then wouldn't the majority of the negative be a result of trump policies?

[archives]

Of course you do realize that a degree of those percentages are based upon last year's numbers when the economy was on stalemate

Of course inflation is settling in, would have happened no matter who was President, supply and demand, as demand increases, prices increase until supply catches up, in time, when an equilibrium is reached, percentages will settle down. Will everything be as cheap as it was last year this time, no, a degree of inflation was inevitable

[Stretch]

he only people in the country surprised by the Bureau of Labor Statistics's latest numbers all just happen to be those responsible for our accelerating inflation problem. After years of near-zero interest rates combined with the federal government's $6 trillion spending bonanza, inflation has skyrocketed to its highest point since the Great Recession in 2008. From June of last year to this one, inflation has risen an extremely worrisome 5.4%.

The inflation doves relying on the Fed to fund their agenda with "free" debt will cry, yes, but the inflation is only bad because of a handful of industries! True, the sky-high price increases for gas (45.1%) and used cars (45.2%) are far greater than other categories delineated by the BLS, and it's a great thing that transportation only comprises a plurality of the budgets of us peasants. But even removing these items with the excuse of "volatility" paints a dire picture.

Inflation, sans food (up 2.4%), and energy costs (up 24.5% overall), still rose 4.5% from June of last year to this one, and it's worth digging into the numbers as a reality check that indeed confirms your life has gotten dramatically more expensive.

Phone bills are up 4.4% from a year ago, and likely thanks to the public school shutdowns, elementary and high school tuitions are up 3.1% amid a spate of new demand. Cable costs are up 5.1%, and physicians' services are 4.1% more expensive — and that's at the end of a pandemic. With local governments cracking down on vaping, cigarette prices are soaring, up 7.3% from last year, and the booze boom hasn't stopped, with alcohol prices up 1.9%.

And whatever money you saved shlepping in sweatpants for Zoom meetings will be spent quickly. Shoes are 6.5% pricier than last year, and men purchasing pants and women buying dresses to return to the office will find prices up 11.1% and 15.8% respectively. And overall household commodities such as furniture and cleaning products, even without energy prices, are up 8.7%.

Unless you have the privilege of working at one of the few companies that could afford giving raises in the past year, you have taken an effective 5.4% pay cut during a pandemic. Life got harder, and a combination of abysmal monetary and fiscal policy ensured it got more unaffordable. Our rulers may warn that fears of returning to the stagflation of the 1970s are overblown, but the numbers don't lie: It's 2008 again.
https://www.washingtonexaminer.com/o...m=article_rail

Yup. THIS is how Dems "raise taxes"..........without "raising taxes." LOL

[Hawkeye10]

.7 May

.9 June

What will July be?

Aug?



I dont think we are getting off this ramp anytime soon.

Maybe 20% y-o-y by New Years.

[Geeko Sportivo]

I don't see how blaming Biden for Donald Trump's mistakes is helping anything!

BUT NICE TRY- IF YOU CAN GET BY WITH IT!

[Althea]

I don't see how blaming Biden for Donald Trump's mistakes is helping anything!

BUT NICE TRY- IF YOU CAN GET BY WITH IT!

Washington Examiner

Nuff said.

Gas, and massive shortages due to trump screwing up the supply of computer chips.

Food is stable, as are most consumer goods.

I hope that this narrow scope of inflation causes the Fed to set interest rates accordingly. They wasted countless millions propping up corporations when the trump virus crashed the market.

We don't hear much about 'letting the free market work' from Republicans.

[Guno צְבִי]

Yup. THIS is how Dems "raise taxes"..........without "raising taxes." LOL

when are you going to bring back drummie, sista stench?

[Hawkeye10]

Washington Examiner

Nuff said.

Gas, and massive shortages due to trump screwing up the supply of computer chips.

Food is stable, as are most consumer goods.

I hope that this narrow scope of inflation causes the Fed to set interest rates accordingly. They wasted countless millions propping up corporations when the trump virus crashed the market.

We don't hear much about 'letting the free market work' from Republicans.

The government making trillions of dollars a year of new money is not the free market working.

[Hawkeye10]

Washington Examiner

Nuff said.

Gas, and massive shortages due to trump screwing up the supply of computer chips.

Food is stable, as are most consumer goods.

I hope that this narrow scope of inflation causes the Fed to set interest rates accordingly. They wasted countless millions propping up corporations when the trump virus crashed the market.

We don't hear much about 'letting the free market work' from Republicans.

The government making trillions of dollars a year of new money is not the free market working.

Also you really should stop lying about Trump.