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Economy
Wholesale inflation hits a record 9.7%
2022-01-14
  • [Daily Mail, Where America Gets Its News] Wholesale inflation hit 9.7% in 2021, according to new data on Thursday

  • It comes a day after consumer prices hit 7% inflation, the most since 1982

  • Experts say that 'persistent supply disruptions' are keeping costs high

  • Biden's approval ratings have taken a huge hit because of the surge in prices
Posted by:Fred

#9  Saw something about a Big Pizza Chain decreasing number of wings in an order from 10 to 8.

I would go with 6, as it can be split 1, 2, 3, or 6 different ways!

Funflation!
Posted by: swksvolFF   2022-01-14 18:38  

#8  Biden going for Jimmy Carter's record?
Posted by: JohnQC   2022-01-14 18:17  

#7  Popcorn!

Disney World fans are waiting over 6 hours in line to buy a $25 popcorn bucket, with some begging those in front to buy them one for $100
Posted by: Merrick Ferret   2022-01-14 15:32  

#6  Kamala complaining about cost of Docusate SOD.
Posted by: crazyhorse   2022-01-14 15:18  

#5  Price increases and amazing portion reductions, look at the next DiGiorno; frozen pizza or the size of a Snickers Bar. In the ultimate insult, Guiness Dark Draft Pints are now 15oz!!!!!
Posted by: NoMoreBS   2022-01-14 14:22  

#4  Bought a package of hot links yesterday and went into sticker shock
Posted by: magpie   2022-01-14 13:20  

#3  btw, Oil is up well above $80/barrel again.
Posted by: Lord Garth   2022-01-14 11:58  

#2  The Shelter component of the CPI is based partly on rents and partly on the 'equivalent rent of a primary residence'. The latter is determined by a structured interview of homeowners where they guess at what they would get in rent if it was rented out. This is obviously a subjective method but this second component has, over the years, lagged the rent prices by many months. So, yes, there is a lot of increase baked into the 2022 shelter index but probably not as much as inflaton hawks estimate.
Posted by: Lord Garth   2022-01-14 11:52  

#1  Repost from last night sorry but David P. "Spengler" Goldman is on the case -- this means the real inflation rate i.e. that includes the cost of shelter is more like 11-12%.

Reason: they're not accounting for the rise in the cost of shelter (rent, mainly). Try 12% total inflation rate. Economist Goldman ("Spengler"):

Worst Inflation Since '82 is Huge Underestimate

This time, the CPI rent inflation rate of 4.2% undershot the private rental data. As old leases expire and new leases are written, the CPI index for shelter should rise by 14 percentage points. Shelter makes up 32.3% of the CPI, so 14 percentage points in the cost of shelter would add another 4.5 percentage points to the headline inflation number.
Posted by: Merrick Ferret   2022-01-14 00:28  

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