Posted on 05/12/2021 6:53:25 AM PDT by Red Badger
Consumer prices jumped higher than expected in April, data from the Department of Labor showed Wednesday.
The Consumer Price Index climbed 4.2 percent annually in April. Compared with March, prices rose 0.8 percent.
The annual inflation figure is the largest increase since 2008. Economists had forecast a year-over-year gain of 3.6 percent and 0.2 percent for the month.
Excluding food and energy, categories that can be volatile month-to-month, “core” CPI rose 0.9 percent compared with a month ago, three times faster than the estimate. On an annual basis, core prices are up 3.0 percent, above the 2.3 percent estimated.
The inflation numbers came in so hot for April that they exceeded the top of the range of estimates of analysts surveyed by Econoday.
The annual numbers may somewhat exaggerate inflationary pressures because of extremely weak numbers a year ago when the U.S. economy locked down in an attempt to contain the spread of covid. Officials at the Fed believe that this so-called “base effect” will last only a few months and that inflation will be transitory.
Not all economists agree. The economy is recovering more quickly than anticipated and much of the spending from the $1.9 trillion stimulus bill passed in March has yet to hit the economy. Pent-up consumer demand, bolstered by excess savings and direct stimulus payments, could push prices up higher than Fed officials anticipate, some analysts have warned.
The higher than expected CPI reading is resurrecting fears of an economic threat that has all but disappeared over the past generation: Runaway inflation. It occurs when prices for most goods and services not only rise but accelerate, making the cost of living steadily more expensive and shrinking the purchasing power of Americans’ earnings and savings.
(Excerpt) Read more at breitbart.com ...
EXCEPT I DON'T HAVE HAIR...................
They are making it really easy on the next Republican presidential candidate. This is like Carter 2.0!
It’s higher than that.
They are at maximum margin-of-cheating.
Annnd this is just the first few months..Wait until people are sick of gas lines and high food prices come 2022......
I’m afraid this is just the beginning and my retirement savings will be worth less and less each month while these morons are in power....................
"Unexpected"
We'll be seeing and hearing that word a lot.
Carter was a dummy, but an honest one.
Biden is a dummy and as crooked as the day is long...................
0.8% × 12 months = 9.6%, if this month’s rate merely continues, rather than accelerates further like the last 4 months.
Didn’t WIN buttons control inflation back then? I’m sure the Biden brainiacs have a similar plan.
The only way to stop inflation is to stop printing money out of thin air.....................
Remember how they never talked about inflation during Odumbass?
It was 100% over his term.
MY grocery bill went from an average of $150 a month to over $300 a month. I remember shopping once where it went over $700.
We both know that ain’t happening.
Yep, they are as addicted to spending as Hunter Biden is to smoking Crack..................
I was talking to someone I think is more liberal. She said that she saw someone on MSNBC who said inflation is not going to be a problem.
So there you go. Some liberals wish and hope that we won’t see inflation, and that Biden’s policies will not cause inflation.
MSNBC?......... I think I see her problem.......................
I felt a great disturbance in The Force, like the sound of 30 million HIGH FIVES GOING ON AT ONCE..............
I’m seeing runaway inflation all over the place! Buying baseboards. Buying at McDonalds. Buying milk. Buying gas. T-shirts at WalMart up. Meat up.
And up a lot. As someone else put it, “It took Jimmy Carter 4 years to screw things up this bad!”
We are in for a steep climb out of this hole.......................
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