Up, up and away....
Posted on 05/11/2022 6:34:45 AM PDT by shadowlands1960
Key Points:
- The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years.
- Core CPI, which excludes food and energy, also was higher than expected, rising 6.2%.
- Shelter costs, which comprise about one-third of the CPI, rose at their fastest pace since 1991.
- Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living.
Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close to the highest level since the summer of 1982.
Removing volatile food and energy prices, so-called core CPI still rose 6.2%, against expectations for a 6% gain, clouding hopes that inflation had peaked in March.
The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have dropped 2.6% even though average hourly earnings are up 5.5%.
(Excerpt) Read more at cnbc.com ...
The Fed giveth. The Fed taketh away. May the name of the Fed be tarnished.
When it comes to groceries in my area this vastly understates inflation.
Transitory!!!!!
Yes. My grocery coasts have near doubled and that is with me taking steps to economize.
‘costs’ not ‘coasts.’
Biden did this...
8.3% my rear end.!
Mark Twain: There are lies, damned lies, and statistics.
I wonder how much data massage was necessary to keep rate under 8.5%
Let’s see...
We have gone from steak and lobster twice a month under president Trump to beans and rice every day under resident Biden.
5.56mm
No no...I just read it cooled and may have “peaked” last month lolololol
Yes, the reported numbers are very misleading. Over the years the calculation of the various indices has changed, often for political reasons. Not only is current inflation vastly understated, I believe it may actually be worse than what we experienced back in the ‘70s.
Memo to Biden and stooge crew: That isn’t how MAGA worked
What’s this 8% nonsense? It’s a lot more than that in my household.
Grocery trips alone cost me 25% more for the same basket of goods than a year ago.
Gasoline is literally twice as much than under Trump. That’s 100% inflation at the pump.
The experts were wrong again.
Meanwhile, the March Wholesale Producer Price Index was up 11.2%.
Choose one:
* Great Depression II
* Inflation for the rest of our natural lives
* Great Reset: Programmable digital currency (Fed, US/UK/EU, or Global)
Great Reset: = devaluation so not much different than effects of inflation. Deregulate the hell out of the country and grow like crazy... that will get us part of the way But yeah, no way out from ongoing inflation and a decline in living standards.
*1oz of gold at $2500 or similar
*1oz of silver at $50 or similar (still doesn’t get back to the 15:1 1792 ratio if we did that then $2500 gold would be $166 silver)...maybe $200 silver would be a good call.
Thankful to be employed but, um, that 4.1% raise has turned into fumes. No one could have seen this coming?
https://www.youtube.com/watch?v=WpbB-1wVM3w
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