Article

2021-04-14 Economy

U.S consumer prices surge in March, CPI finds, pushing inflation to 2 1/2-year high

[MARKETWATCH] Consumer prices rose in March for the fourth month in a row and the pace of inflation hit the highest level in two and a half years, underscoring new pressures emerging on the economy as the U.S. recovers from the coronavirus (aka COVID19 or Chinese Plague)

coronavirus (aka COVID19 or Chinese Plague)

...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men...
pandemic.The consumer price index jumped 0.6% last month, the government said Tuesday, spearheaded by the rising cost of oil. Economists polled by Dow Jones and The Wall Street Journal had forecast a 0.5% increase in the CPI.

The rate of inflation over the past year shot up to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.
If there's a total of $1.2 trillion in circulation, and the govt prints another $1.9 trillion, you kinda expect a bit of inflation, don't you?

Logic is racist, Fred. We can’t be having that kind of thing when precious feelings are involved.

Posted by Fred 2021-04-14 00:00|| || Front Page|| [11133 views ] Top

#1 The Federal Reserve found that its benchmark price for "a basket of items" that nobody actually buys remained steady...

Posted by M. Murcek 2021-04-14 03:56|| 2021-04-14 03:56|| Front Page Top

#2 The inflation rate would be a whole lot higher if they included wood building materials ...

Posted by Glenmore 2021-04-14 06:55|| 2021-04-14 06:55|| Front Page Top

#3

Wally World and other stores
Bacon now at $4.39 to $4.99 a pound.
But Pork Loin $2.58 a Pound?

Posted by NN2N1 2021-04-14 07:15|| 2021-04-14 07:15|| Front Page Top

#4 Possible pork shortage could strike during summer months

Posted by Skidmark 2021-04-14 07:27|| 2021-04-14 07:27|| Front Page Top

#5 Scary. 0.76% inflation last month is annualized to 12.8% yearly inflation. While it is unlikely to continue that high, energy price increases have yet to ripple through the production chain. Combined with with dumping 2X normal Federal spending dollars into the economy and inflation can easily reach 5-6%.

If interest rates match inflation, a 5% interest on $26 billion (near $30 trillion end of 2021) will cost 30% of federal tax revenue just to pay interest in the next few years.

Combine this with the bulk of baby boomers retiring, increasing the demand on the Federal budget and Americans will be hit with a vicious cycle unseen since the founding of the republic.

Posted by Phavimp Smith9261 2021-04-14 09:04|| 2021-04-14 09:04|| Front Page Top

#6 You talk about pork. Did Democrats think they could keep printing money for all the pork they want without any consequences?

Posted by Abu Uluque 2021-04-14 12:13|| 2021-04-14 12:13|| Front Page Top

#7 Lots of supply chain disruptions right now are prolly partly to blame for the spike. But only partly.

Posted by Woozle Grumble5275 2021-04-14 13:03|| 2021-04-14 13:03|| Front Page Top

#8 With a (D) government the statistics will be massaged appropriately

Posted by magpie 2021-04-14 13:14|| 2021-04-14 13:14|| Front Page Top

#9 this is not being driven by labor cost inflation as the average wage is not increasing that much (although it is up a bit from Jan to Mar)

unfortunately producers are having trouble increasing supply (in some sectors, e.g., energy), the govt is the trouble

Posted by Lord Garth 2021-04-14 16:44|| 2021-04-14 16:44|| Front Page Top

#10 In about 18 months Venezualens will be begging to be deported back to home.

Posted by Blackbeard Barnsmell6454 2021-04-14 17:42|| 2021-04-14 17:42|| Front Page Top

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