Inflation REMAINS at 13-year high at 5.4% - despite Biden insisting soaring prices are temporary: Us

[mystery-ak]

Inflation REMAINS at 13-year high at 5.4% - despite Biden insisting soaring prices are temporary: Used car prices and gas soar 42%

    Inflation data on Wednesday showed consumer prices were up 5.4% in July
    It is the same annual increase recorded in June, and the highest since 2008
    However there were signs that prices are beginning to peak in some categories
    Used car prices are up 42% from a year ago, but increasing at a much slower rate
    New car prices are up 6.4%, the highest annual increase since 1982
    Gas prices are up 42% from a year ago, creating a political liability for Biden
    Food is up 3.8% and shelter rose 2.8%, hitting the nation's poor the hardest

By Keith Griffith For Dailymail.com and Wires

Published: 08:45 EDT, 11 August 2021 | Updated: 12:56 EDT, 11 August 2021

A key measure of inflation remained unchanged in July from its June level, spurring fears that price increases will continue to hit Americans in the wallet.

Federal data released on Wednesday showed that for the 12 months through July, the consumer price index rose 5.4 percent, unchanged from June and at the highest level since the Great Recession in 2008.

On a monthly basis, consumer prices jumped 0.5 percent from June to July, down from the previous monthly increase of 0.9 percent.

more
https://www.dailymail.co.uk/news/article-9883673/Inflation-REMAINS-30-year-high-5-4-despite-Biden-insisting-soaring-prices-temporary.html

[libertybele]

[libertybele]

China Joe is lying dog-faced pony solider.

Statistically I heard a report that predicts with the infrastructure bill (inflation bomb) that we will suffer a 30% loss of buying power!  That's 30%.  I don't know about everyone else, but even with additional income to social security, we are going to be hurting BIGLY!

Notice that the largest increase is in gasoline and transportation.  They want to push towards electric cars which is going to hurt the economy and our wallets even worse.  We just purchased brand new vehicles; we can't afford an electric model!

 

[cato potatoe]

Transitory my ass.  It's accelerating.  The producer price index was just published, and it's up 7.8%. 

[Kamaji]

Stagflation is a-comin'

[DefiantMassRINO]

Temporary inflation can become permanent when government policy hinders the reclamation of previous efficiencies and the creation of new efficiencies.

Gas is $3/gallon because the party in power doesn't want us consuming fossil fuels.  They need high fossil fuel prices to make renewable energy relatively price competitive.

Their plan is working as designed - screwing the deplorables into driving electric golf carts.

[cato potatoe]

The problem is getting buried by the press.  Half of Biden's stimulus has not been spent, and will continue to fuel the inflation bomb.  There was some deflation at the start of the pandemic, but the PPI quickly recovered and went haywire around January of 2021, well beyond the long term inflationary trend.  With loose monetary policy, you have to believe the infrastructure and budget resolutions will accelerate the inflation in the long term. 

[Kamaji]

And the Fed is a bunch of fools if they think they're going to be able to catch this falling knife in time to tame it.

[SZonian]

But hot dog prices are down $0.16, so quicher bitchin' and have a bbq. 

[LMAO]

And the Fed is a bunch of fools if they think they're going to be able to catch this falling knife in time to tame it.

In private, I think they know they’re losing control. But they have to put on a happy public face along with the president.

Inflation, along with many other issues, is going to be one of the things that we’re going to be told to forget what your eyes and ears are seeing and hearing and believe us smart people in power

[jafo2010]

For those around when inflation was running strong under the Carter years, there is no fooling us.  Inflation numbers today haven't gotten anywhere near to heating up to what they will become.

I envision 20% inflation coming our way soon.  With that, Biden's higher taxes which will send millions to the unemployment lines, all while interest rates climb overnight bringing everything to a screaming halt.


Best be stocked up with food to last one year, and guns and ammo to defend it for the marauders that will roam free from house to house, killing everyone in their path.

Did it ever occur to anyone here that the defund the police was to eliminate them as an entity to protect the general population?  With no society protections, that will make it easier for us to evolve into total anarchy and every man/woman for him/herself!!!  Tens of millions will die in the USA, maybe more.  And you thought the Fauci Act 1 was deadly.  Just wait.

[mountaineer]

Key inflation gauge rises 3.6% from a year ago to tie biggest jump since the early 1990s
Published Fri, Aug 27 2021
8:43 AM EDTUpdated Fri, Aug 27 202110:00 AM EDT
Jeff Cox

Key Points

    *An inflation measure the Federal Reserve uses to set policy rose 3.6% in July from a year ago, meeting Wall Street expectations but also tying the highest level in about 30 years.
    *The core personal consumption expenditures price index was unchanged from June, which was revised up one-tenth of a percentage point, the Commerce Department reported Friday
Full story at CNBC

[Smokin Joe]

For those around when inflation was running strong under the Carter years, there is no fooling us.  Inflation numbers today haven't gotten anywhere near to heating up to what they will become.

I envision 20% inflation coming our way soon.  With that, Biden's higher taxes which will send millions to the unemployment lines, all while interest rates climb overnight bringing everything to a screaming halt.


Best be stocked up with food to last one year, and guns and ammo to defend it for the marauders that will roam free from house to house, killing everyone in their path.

Did it ever occur to anyone here that the defund the police was to eliminate them as an entity to protect the general population?  With no society protections, that will make it easier for us to evolve into total anarchy and every man/woman for him/herself!!!  Tens of millions will die in the USA, maybe more.  And you thought the Fauci Act 1 was deadly.  Just wait.

I remember those years. North Dakota had to change its usury laws, because prime rate had exceeded the interest rate prohibited by the regulations and the banks couldn't borrow money.

I'm not looking forward to that crap again...