Posted on 04/17/2022 11:05:21 PM PDT by RomanSoldier19
The SPDR S&P 500 ETF Trust SPY (NYSE:SPY) traded higher by 0.9% on Tuesday morning after the Labor Department reported an 8.5% increase in the consumer price index in the month of March, the highest inflation growth since 1981.
What Happened: The headline CPI rose 8.6% in March, above economist estimates of 8.4% and marking the highest growth rate since December 1981. The CPI was up 1.2% on a monthly basis.
Related Link: Analyst Cuts S&P 500 Earnings Estimate, Says Recession Risk Rising
Core inflation, which excludes volatile food and energy prices, was up 6.5% in March, in-line with economist estimates.
Food prices were up 1% month-over-month and 8.8% compared to a year ago. Energy prices were up 11% in March and 32% over the past 12 months. Used car prices dropped 3.8% on a monthly basis but remain up 35.3% from a year ago.
The latest CPI inflation reading comes after the Labor Department reported earlier this month that U.S. wages grew 5.6% year-over-year in March. Unfortunately, the latest inflation numbers suggest prices are rising faster than wages for many Americans.
Voices From The Street: Jeffrey Roach, chief economist at LPL Financial, said inflation will likely soon peak, but the cool-down period could be long and painful.
"Look at rents, food and autos to lead the way in releasing inflation pressures in the remaining months of 2022," Roach said.
John Lynch, chief investment officer at Comerica Wealth Management, said first-quarter earnings calls will be important for investors to get a sense of how much of impact inflation is having on U.S. companies.
(Excerpt) Read more at markets.businessinsider.com ...
Bidung and the pinkos have destroyed our energy sector. They’ve destroyed peoples way of life, and small business. They print money as a solution to all problems.
They are absolutely going for the “great” reset. People be damned.
“Experts” ...that are always “unexpectedly” wrong.
Jimmy Carter’s economy 2.0?
Jimmy’s foreign policy disasters 2.0?
Reagan 2.0 incoming?
“Reagan 2.0 incoming?”
If we could be that lucky, but the country does not have the same demographics it has in 1980 and is unlikely to elect anything but democrats no matter how bad things get.
Demographics is destiny…
Define: Staglation
“persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.”
Do we have high unemployment?
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