0.9% June inflation x 12 months = 10.8% Run Rate Inflation.
To the moon, Alice!
Posted on 07/13/2021 6:09:18 AM PDT by MrRelevant
Inflation continued its rapid surge in June, rising at its fastest pace in nearly 13 years amid an ongoing burst in used vehicle costs and increases in both food and energy, the Labor Department reported Tuesday.
The consumer price index increased 5.4% from a year ago, the largest jump since August 2008, just before the worst of the financial crisis. Economists surveyed by Dow Jones had been expecting a 5% gain.
Stripping out volatile food and energy prices, the core CPI rose 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%.
0.9% June inflation x 12 months = 10.8% Run Rate Inflation.
To the moon, Alice!
The price of the better cuts of beef have doubled in the last couple years. Last week the price for Delmonico/Ribeye steaks at my local supermarket were $17.99/lb. They were $7.99/lb not to long ago. Needless to say I did not buy any.
What I found interesting is a local eatery has not raised their ribeye steak dinner from $26 for the meal. This is the same it has been the last couple years.
Inflation keeps rising and wage earners continue to suffer.
Unexpected, my a$$. Don’t worry tho, it’s only “transitory”.
Read the Book of Revelation. You’ll see how this ends.
“Shades of 1980.”
More like the Wiemar Republic and Venezuela.
“Wouldn’t you like to own a $4,000 suit, and smoke a $75 cigar, drive a $600,000 car? I know I would!”
—
It’s not the far off. Even now, the current average new car price paid is now over $40,000! Back in the 70’s, $40K would get you a pretty nice house.
https://www.cnet.com/roadshow/news/average-new-car-price-2020/
Not sure this inflation is real. It seems like the higher prices are due to shortages. The company I work for still only gave 2% raises for everybody.
Prices can’t keep rising if people can’t pay.
Price inflation is not going to match wage increases.
Wages are going to be depressed. Expect more immigration
Let’s say you own a business.
All of your costs are going up. Raw material, shipping, packaging, cleaning supplies, everything is going up 5 to 10%.
Now review time is coming. You are looking at the bleeding everywhere else, and realize you can’t pass the increases onto the customer.
Where are you going to get the savings the bank and investors demand? You limit raises. Hoping against hope they don’t jump to another job.
Wages are the last thing to rise. The price of lumber may go up and down, but a raise is forever. If the raise is less than the cost of inflation, it is a net gain to the bottom line.
I do things differently, but I also know my raise will be... less this year.
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