Posted on 10/14/2021 11:18:23 AM PDT by MNJohnnie
Compared with just one month ago, consumers are paying slightly more for most goods and services. Compared with a year ago, however, they’re paying significantly more, according to Labor Department data released this week.
The Labor Department reported that the consumer price index, a key inflation gauge that measures how much Americans pay for goods and services, rose about 0.4 percent in September. The year-over-year prices increased 5.4 percent, which some noted is the largest yearly increase since January 1991.
The agency’s report (pdf), released Wednesday, breaks down how much prices have increased for certain key services and goods, including gas, food prices, electricity, and used cars:
Gas: 42.1 percent
Meats, poultry, fish, and eggs: 10.5 percent
Propane, kerosene, and firewood: 27.6 percent
Fuel oil: 42.6 percent
Electricity: 5.2 percent
Peanut butter: 6.2 percent
Coffee: 4.0 percent
Bacon and similar products: 19.3 percent
Uncooked beef steaks: 22.1 percent
Furniture: 11.2 percent
Used cars and trucks: 24.4 percent
New cars and trucks: 8.4 percent
Rental cars: 42.9 percent
Footwear: 6.5 percent
Motor vehicle maintenance and repair: 4.0 percent
Postage and delivery services: 3.2 percent
Haircuts and other personal care services: 5.0 percent
Sporting goods: 7.5 percent
Appliances: 7.1 percent
Restaurant prices: 4.7 percent
Rent. 2.9 percent
While some economists, including those at the Federal Reserve, have stressed that the current inflation surge is transitory, prices have continued to rise. According to Labor Department data, wages only increased by 4.6 percent compared to the previous year, meaning that inflation is outpacing wage growth.
Analysts have blamed a combination of factors for the spike in inflation, including supply chain disruptions and bottlenecks, energy shortages in the Asia-Pacific and Europe, and COVID-19-related concerns and vaccine mandates.
Queen’s College President and economist Mohamed El-Erian, in an interview on Oct. 11, said he believes inflation is going to become “more and more of an issue for markets” and that it will “separate winners and losers in a significant way.”
But on Wednesday, the Biden administration issued a series of statements, news releases, and announcements that the White House will attempt to alleviate supply chain issues, namely asking shipping companies like FedEx and UPS to dedicate more shifts to deal with bottlenecks. The administration also asked the Port of Los Angeles to work around the clock, seven days a week, amid a backlog of shipping containers.
This week, Republican lawmakers have gone on the offensive against the Biden administration and Democrats, arguing that their policies—including those focused on climate change—have significantly contributed to the year-over-year inflation.
The White House also is weighing steps to address gas shortages and price surges, according to press secretary Jen Psaki, who told reporters Wednesday that Biden “has asked his economic team, as they do on any range of issues impacting the public, to continue to discuss what the options are that we can take to address these shortages.”
Without elaborating, Psaki said that she is “not in a position yet to outline additional steps we can take” and said there is a “range” of steps the Biden administration can take.
Why anybody believes a word from any entity in DC is beyond me. This nation is a rudderless mess.
Finally, a list that’s not all junk food and soda.
Best way to stop inflation is buy less, ration, eat less, conserve and make do with what ya have. I can play their game well.
Somebody supported these stupid Democrat sons of bitches.
Probably the same idiots who come here and claim the Republicans are in charge.
Let’s go Brandon!
Fly to Paris!
https://www.bls.gov/news.release/pdf/cpi.pdf
Some foodstuff hasn’t gone up much and a few things have actually gone down. I’ll probably adjust our shopping based on the numbers but will see if it’s reality in our stores.
What have you see go down in price?
I’m spoiled because my wife does all the shopping.
I am small and don’t eat much to begin with, but buy the best of whatever it is. I’ll be OK. Daughter and SIL are large people, buy a lot more and may feel the pinch a bit.
BTW, I just bought “F@ck Joe Biden” coffee mug at Liberty Daily. A great investment, may buy more for Christmas presents.
Saw a poll someplace and people want the Government to Intervene , LOL
Idiots. That exactly the problem now
That’s what the report says. Like I said, I’ll have to see if that’s the reality in stores. They list frozen veggies as having gone down. All I know is beef and fresh produce are both up as are paper products. Pork hasn’t changed much. Chicken up a little.
Saw a poll someplace and people want the Government to Intervene , LOL
Government IS the problem. Federal laws restrict the number of hours a person can drive a big rig. Because of pot legalization drivers can’t get CDLs. Gasoline has to be formulated for different regions-often in one state-due to EPA laws. Etc, etc.
And grow more!
“Bacon and similar products: 19.3 percent”
There IS NO “similar product” to bacon. There is only BACON. The entire article is now suspect.
Used records went up, but not because of supply chains or anything else related to bad economic policies.
They went up because record collecting was something people could still engage in, even if they were scared to leave their home. And since there was no live music in many places, buying vintage vinyl became a substitute.
I happen to believe that the interest that young people have in vinyl is a sign that they feel something warm and vital is missing from their cold digital world.
“Prices Are Continuing to Surge: Here’s What’s Becoming the Most Expensive”
What do expect when the printing presses run nonstop? Practically everything will continue to rise in price assuming you can find what your looking for. Prepare ye, prepare ye for a dark/cold winter.
I’ve been stocking up on hamburger. Eggs are on sale for .99/dozen at my local store. I’ve even been purchasing toilet paper and paper towels. Dogs don’t eat canned food anymore which is good because the shelves are getting empty.
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