Biden's 'Temporary' Inflation Just Logged Another Record-Tying Jump

Townhall ^ | 8/11/2021 | Spencer Brown

[Avalon Memories]

The U.S. Department of Labor announced Wednesday morning that the Consumer Price Index (CPI) increased .5 percent in July after rising .9 percent in June and tying last month's year-over-year increase of 5.4 percent — the largest jump since 2008.

BREAKING: Consumer price index rises 0.5% in July, up 5.4% year-over-year.

And while Democrats herald wage growth, the accompanying inflation is outpacing that growth and leaving Americans with less buying power. The result is a "Biden pay cut," according to Job Creators Network President Alfredo Ortiz. "Rapidly rising prices due to inflation are causing American workers' real wages to fall," Ortiz explained. "Wages grew by 4 percent last month while inflation increased by 5.4 percent meaning that hardworking Americans are falling further behind."

[Avalon Memories]

ADMIN: I think this is genuine breaking news, but if not, please move to Front Page News. Thanks.

[Tilted Irish Kilt]

I think that inflation was called :" transitory",
which means that it's still traveling and moving.

[Red Badger]

I am betting that by the end of the year, inflation will be starting around 8.5% and accelerating..................

[CatOwner]

Sadly, investment interest rates are nowhere near keeping up with this.

[Red Badger]

Now all we need is DISCO and polyester pantsuits to make a comeback and we have the 70’s all over again!.................

[baclava]

Gold and silver are on the rise

[Red Badger]

Welcome to 1977!.....................

[central_va]

You can’t blame all of the inflation on wage increases. That is just not possible.

[Beagle8U]

My bank called yesterday about their new auto loan rates of 1.9%, and that includes used autos.

[Rightwing Conspiratr1]

A near future trip to the grocery store...

[Avalon Memories]

You can’t blame all of the inflation on wage increases.

Agreed. Wages are stagnant in real terms.

[Psalm 73]

"My bank called yesterday about their new auto loan rates of 1.9%"

Buy it now with 2021 dollars and repay with 2022 and 2023 dollars.

We're looking at a new travel trailer, same 1.9% loan rate - it'll be a bargain at 2023 dollars.

[Chode]

[Flick Lives]

Oh man, I forgot about those wide collar shirts. Collars are big enough you could use them as dive brakes on a bomber.

[central_va]

We are seeing artificial shortages of goods and services which is causing inflation. IMO a lot of it is is employers are refusing to raise wages high enough to attract employees. Employers think they have right to cheap labor and to hell with it.

A POX ON ALL INVOLVED.

[Red Badger]

Leisure suits were horrible and even dry-cleaning couldn’t get rid of the body odor!..............

[ZOOKER]

Unexpectedly?
Not really. This is the plan, to tax and spend, overheat the economy, and inflate their way out of the huge debt they create.
Eventually, anyone who works will be a millionaire, with that higher tax bracket of course.
Those high taxes/wages will drive businesses and jobs overseas,
Biden will make Carter look good by comparison.

[_longranger81]

And the Commiemedia outlets will start calling it “The New Normal” in 5,...4,...3,...

[Robert A Cook PE]

I’m thinking it is already well over 8% (yearly), and is accelerating towards 10-12%.

[Robert A Cook PE]

No. Not true.

The opposite actually: Employers are HAVING TO R AISE their per-hour wages to try to get ANYBODY in to work from their sit-in-front-of-the-TV-and-gamebox “wages of federal and state idleness”.

Those new, higher wages are going to force increases in the prices charged as soon as people do begin producing things.