Posted on 04/13/2021 8:49:13 AM PDT by BenLurkin
The consumer price index rose 0.6% from the previous month but 2.6% from the same period a year ago. The year-over-year gain is the highest since August 2018 and was well above the 1.7% recorded in February.
The index was projected to rise 0.5% on a monthly basis and 2.5% from March 2020, according to Dow Jones estimates.
Gasoline prices were the biggest contributor to the monthly gain, surging 9.1% in March and responsible for about half the overall CPI increase. Gasoline is up 22.5% from a year ago, part of a 13.2% increase in energy prices.
Food nudged higher as well, up 0.1% for the month and 3.5% for the year. The food-at-home category increased 3.3%. All six of the government’s measures of grocery store indexes rose, with the biggest gain of 5.4% in the category of meats, poultry, fish and eggs.
Food away from home increased 3.7%, while “limited services meals,” which include pickup, take out and delivery restaurants, jumped 6.5% for the year, the largest annual increase in the survey’s history dating to 1997.
...
While the inflation numbers look high, many economists as well as policymakers at the Federal Reserve expect the increase to be temporary.
(Excerpt) Read more at cnbc.com ...
When gas prices go up prices for groceries and anything delivered by a truck goes up
That pitiful raise for social security recipients doesn’t count for much does it? Maybe we’ll get an honest adjustment for inflation next year. Right.
In my best Gomer Pyle voice; Surprise, Surprise, Surprise.
*Drink*
Strange how unexpected means the exact opposite during (R) administrations
What about wood prices?
Unexpected ?
Invest in Railroad stocks for a while:-)
But but but but.... Orange man bad.... so we all suffer because all the fools thought orange man bad.
Consumer prices rise as expected, pushed by dems cheating their way into office
Democrats = inflation
There’s no inflation according to the Fed, except for food, fuel, housing, and electricity. So if you just don’t buy those discretionary items you’ll be fine.
I found a receipt in my truck yesterday dated 20 May, 2020. The price per gallon of gas was $1.49 (Costco).
I miss President Trump!! So does my wallet.
Invest in wheelbarrows folks. Pretty soon we’ll be wiping our butts with $50s.
🙄
“many economists as well as policymakers at the Federal Reserve expect the increase to be temporary”
Funny, I don’t remember deflation ever resulting in lower prices for every day items like food. I only remember box and can sizes being adjusted down with pricing remaining the same.
Thanks a lot President Dufus...
I could have told them what to expect in the numbers. Inflation had already set in. The numbers are not reality. The numbers lag behind reality. All they had to do was ask me, and the numbers would not have been “unexpected.”
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