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Thread: Consumer inflation hits 6-year high, CPI shows

  1. #1

    Default Consumer inflation hits 6-year high, CPI shows

    Just wait until the tariffs start having an effect on prices.

    The numbers: Consumer prices rose in June at the highest yearly rate since 2012, reflecting a U.S. economy thatís running hotter than anytime since the Great Recession.

    The increase in the cost of living rose to a 12-month pace of 2.9% from 2.8%, marking the highest level in more than six years, the government said Thursday. A year ago the 12-month rate stood at just 1.6%.

    The numbers: Consumer prices rose in June at the highest yearly rate since 2012, reflecting a U.S. economy thatís running hotter than anytime since the Great Recession.

    The increase in the cost of living rose to a 12-month pace of 2.9% from 2.8%, marking the highest level in more than six years, the government said Thursday. A year ago the 12-month rate stood at just 1.6%.

    Although gasoline prices rose again, the cost of electricity and natural gas both fell sharply.

    Rents and medical care, meanwhile, continued to rise in price. So did new and used cars.

    Prices fell for airline fares and clothing.

    Big picture: Inflation has shot up over the past year owing to rising oil prices, higher rents, more expensive medical care and growing bottlenecks in the economy for skilled workers and certain key materials.

    The trucking industry, for example, says it can hardly find any more drivers at a time when many older riggers are retiring. Thatís causing shipping costs to go up.

    The increase in inflation has basically wiped out wage gains by American workers, though theyíve been partly cushioned by the Trump tax cuts. Real or adjusted hourly pay rose 0.1% in June, but it was flat in the past 12 months.

    Higher inflation is also pushing the Federal Reserve to raise U.S. interest rates. The Fed expects inflation to level off soon and fall back toward the 2% mark, but if it doesnít, the central bank might have to act even more aggressively.

    What they are saying?: ďInflation isnít surging, but it is continuing its steady upward climb,Ē said Jim Baird, chief investment officer at Plante Moran Financial Advisors.
    Quote Originally Posted by NorthCarolinaLiberty View Post

    Half the crap I write here is just to entertain myself.
    I am Zippy and I approve of this post. But you don't have to.



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  3. #2

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    Wait. I was assured by Zippy 2.1 that inflation wouldn’t happen.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  4. #3

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    Fake news. No source quoted.
    1. Don't lie.
    2. Don't cheat.
    3. Don't steal.
    4. Don't kill.
    5. Don't commit adultery.
    6. Don't covet what your neighbor has, especially his wife.
    7. Honor your father and mother.
    8. Remember the Sabbath and keep it Holy.
    9. Donít use your Higher Power's name in vain, or anyone else's.
    10. Do unto others as you would have them do to you.

    "For the love of money is the root of all evil..." -- I Timothy 6:10, KJV

  5. #4

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    Quote Originally Posted by Jamesiv1 View Post
    Fake news. No source quoted.
    Zippy seems distracted today. Must be the internal investigation into his Russia ties.

    https://www.marketwatch.com/story/co...ows-2018-07-12
    Truth is a social construct.

  6. #5

    Default

    They would never admit to inflation if a democrat/liberal were in office. Cost of living has skyrocketed over last 10 years and only now do we hear there is inflation.

    Crude is $70 barrel. Wasn't it over $100 a few years ago?

    I have an apartment that I had to lower the rent on to get it rented the other day.
    Last edited by Schifference; 07-12-2018 at 05:15 PM.



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