Posted on 10/14/2021 5:29:03 AM PDT by Red Badger
It's no secret that the cost of living has soared in recent months. These days, consumers are paying more at the pump, at the grocery store, and just about everywhere. And recent data confirms just how intense inflation has been.
The Consumer Price Index rose 0.4% for the month of September, reports the U.S. Labor Department. That's higher than the 0.3% increase analysts were expecting.
That may not seem like such a huge increase. But on a year-over-year basis, consumer prices are now up 5.4%. That's the highest increase since January of 1991.
Everyday costs keep rising In September, gasoline prices rose 1.2%, representing a year-over-year increase of 42.1%. Ouch. Food prices, meanwhile, also rose 1.2% for the month.
Now, the good news is that certain expenses did decline in September. Used car prices fell 0.7% and airfare dropped 6.4%. But while those decreases may help some consumers, they don't represent daily expenses. So it's clear that right now, a lot of people are being squeezed financially just to function.
Will inflation continue to wreak havoc? Based on the levels of inflation we've seen over the past few months, there's a good chance higher costs will be with us for the rest of the year. A big reason why certain costs are up is that many supply chains were halted during the pandemic, and now, there's not enough product to meet ongoing demand. And whenever you have a situation where demand exceeds supply, prices have the potential to rise.
(Excerpt) Read more at nasdaq.com ...
It could easily end like zimbabwe or venezuela.
CPI aint nuthin compared to home price inflation.
Inflation overall in the last two years is way worse then the 70s.
Been there, did that...
Not anytime soon, and the Biden handlers are ok with that. Economic chaos is the path to communism.
You are spot on. 5 years ago I paid $370,000 for a 2100 sq ft house with a 3 car attached garage and a separate 1600 sq ft RV garage. I got my tax assessment notice for 2022 and my land & structure valued increased to $1,235,570.00!!! With that increased value comes a tax bill 3 times larger than when I bought in.
I’m tempted to take the money and run but run where? This was my dream home I worked 40 years to be able to buy and sell and buy and sell until I got enough money to buy what I considered a high end home at 370k. Now, my tax liability along with the Biden Inflation and the Biden Voters Economic disaster is going to cause me to have to sell when I retire in 4 or 5 years.
Insanity. I’m so damn glad all my kids are adults now! I cannot imagine how much of a struggle it’s going to be for many young families to prosper in this worse of my lifetime administration. I lived through Jimmy Carter…Carter looks like Abraham Lincoln compared to whomever we have in the White House now.
Duh !
When the government stops printing money.
ML/NJ
Check out The Villages Florida.
The Biden Administration asked Gas and Oil producers to lower their prices. What a maroon!
This means they have no idea about the Law of Supply and Demand. Prediction: Biden will start floating the Idea of WAGE and PRICE CONTROLS.
Inflation won’t end until Sock Puppet Joe is out of the White House. It will get worse, MUCH worse, if his “human infrastructure” monstrosity is passed.
Inflation will end when both parties stop spending money like drunken sailors, then trying to print their way out of it.
Beijing Is Trapped: China Producer Prices Surge At Fastest Pace In 26 Years
Problem is my family. It’s huge and the wife doesn’t want to move 2500-3000 miles away from them. It’s complicated and very frustrating. I’d personally love living in a sane state like Florida.
It will end when you fix what happened on 11/3/2020.
Name a time when we didn’t have inflation.
The one time we almost got there, everyone went into a panic and didn’t like it (2008).
Looks like we need to start hoarding zeros.
We’re gonna need’em.
I’ll bet it is a wonderful home, and worth toughing it out, even though it isn’t fair. I wish you well.
so much for the 5.9% Medicare COLA
When Will Inflation End?
In 3 years after Venezuela Joe is gone.
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