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Inflation Jumps, 2.6%, More than Expected – Gasoline Prices Increase 9.1% in One Month
Posted on 4/14/21 at 7:51 am
Posted on 4/14/21 at 7:51 am
quote:
The Bureau of Labor Statistics highlights some alarming inflation numbers today [Link Here] that are unfortunately, not unexpected…. unless you are a liberally trained economist (most of them) and so the results are surprisingly “unexpected”.
...wages increased less than inflation increased, so real wages (actual purchasing power) decreased. That spells trouble, Trouble.
Middle-class wage earners already know this problem; you are seeing it at the gas pumps and at the grocery store. Fuel prices are rapidly increasing and the amount of inflation in the ‘at home’ food industry (grocery store) is even more concerning.
Let me first walk through the data and then provide some forward analysis with tips to help you offset what is about to hit.
First, it is important to know that BLS price survey data lags actual prices as felt today. The prices you are seeing today/tommorrow at the store and gas pump will not show up in the rolled-up data for over a month…. So the data released today is unfortunately far behind what you are witnessing in real time.
Gas prices rose last month by 9.1%. The year-over-year inflation number is an alarming 2.6 percent last month. Keep in mind that retail grocery prices are not in the inflation number, and they generally follow the same price index as fuel; so it is safe to say monthly grocery store price increases are in the 8 to 10 percent range.
Part of the reason gas and food track together is fuel and energy prices are the #2 cost within the food sector. With packaging prices increasing; with fuel prices and distribution costs increasing; with energy prices increasing; all costs associated with food production, processing, delivery, warehousing and distribution, all end up in the final price at the grocery store.
This problem with inflation is only going to get worse as the FED gets more involved (that’s coming), because interest rates are already disconnected from the economic costs associated with business investment. [Note: the Fed said last year that it would hold its benchmark interest rate near zero, for some time, even if inflation were to rise above its preferred rate.] JoeBama is returning us to a “service driven economy”, and that is a problem for inflation.
President Trump’s MAGAnomic (USA First) increased wages and lowered prices (deflation) {Go Deep} but hurt Wall Street. JoeBama’s globalist policies lower U.S. wages and increase prices (inflation) but increase Wall Street (via multinationals).
LINK
Posted on 4/14/21 at 7:56 am to GumboPot
now that everything is more expensive, we can tax the shite out of the supply side to juice prices even more. Then, we'll hammer the middle class with new taxes just to make sure any chance of economic recovery impossible! And our idiot followers and the media will twist and contort to make excuses for us.
-The Democrat party
-The Democrat party
Posted on 4/14/21 at 7:57 am to GumboPot
Went to fill up yesterday and the gas station ONLY had Regular. No Mid-grade or premium gas.
It's starting and it's actually what the Dems want.
It's starting and it's actually what the Dems want.
Posted on 4/14/21 at 8:00 am to Boudin and Beers
Gas prices going up isn't necessarily bad
They tend to go down when the bottom of the economy drops out
See 2008 recession and see what happened once COVID wrecked the economy. Steep declines in prices.
They tend to go down when the bottom of the economy drops out
See 2008 recession and see what happened once COVID wrecked the economy. Steep declines in prices.
Posted on 4/14/21 at 8:00 am to GumboPot
quote:
Inflation Jumps, 2.6%, More than Expected
Crazy what happens when you print endless money
Posted on 4/14/21 at 8:01 am to GumboPot
But Janet Yellen said we wouldn't have inflation after printing the stimulus money?
Posted on 4/14/21 at 8:01 am to GumboPot
Excluding food and energy prices from the CPI is the biggest joke ever.
Posted on 4/14/21 at 8:01 am to Powerman
quote:
They tend to go down when the bottom of the economy drops out
Gas prices were dropping pre-China Virus with a roaring economy.
Gas prices also go down when you unleash America's energy industry and become energy independent.
Posted on 4/14/21 at 8:01 am to GumboPot
But mean tweets from Trump are down 100%
Posted on 4/14/21 at 8:03 am to PsychTiger
quote:
But mean tweets from Trump are down 100%
Posted on 4/14/21 at 8:06 am to Boudin and Beers
quote:
It's starting and it's actually what the Dems want.
They’re not trying to be clever. They’re out front with their principles/ideas. They absolutely want less consumption, and is there a better way to accomplish that than taking purchasing power away from the middle class?
Posted on 4/14/21 at 8:07 am to The Boat
quote:
Gas prices were dropping pre-China Virus with a roaring economy.
frick I miss those days.
Posted on 4/14/21 at 8:08 am to PsychTiger
quote:As I tearfully send my son off to die in the Crimea, I'll have this to remind me what's truly important.
But mean tweets from Trump are down 100%
Posted on 4/14/21 at 8:09 am to Vacherie Saint
You left out trillions of additional spending in 'stimulus' dollars.
Posted on 4/14/21 at 8:10 am to GumboPot
Were about to be in very big trouble. There’s absolutely nothing we can do to stop this now that we no longer have fair elections.
My only advice to anybody out there is to get rid of as many parasitic expenses as you can. Things like subscriptions to cable TV, streaming services and stuff like that. Don’t buy things on credit. Pay cash. Don’t purchase new and outrageously over priced new cars and trucks, keep that old one going. Don’t use your rapidly appreciating house as a cash machine with HLOC loans. No variable rate loans. Try to go person to person for services such as home repairs rather than using some company that Jack’s rates way up.
It’s time we get very serious about preparing for what’s to come in this country. It’s going to make the Jimmy Carter years look like the good old days. That’s for those here who are old enough to recall those years.
My only advice to anybody out there is to get rid of as many parasitic expenses as you can. Things like subscriptions to cable TV, streaming services and stuff like that. Don’t buy things on credit. Pay cash. Don’t purchase new and outrageously over priced new cars and trucks, keep that old one going. Don’t use your rapidly appreciating house as a cash machine with HLOC loans. No variable rate loans. Try to go person to person for services such as home repairs rather than using some company that Jack’s rates way up.
It’s time we get very serious about preparing for what’s to come in this country. It’s going to make the Jimmy Carter years look like the good old days. That’s for those here who are old enough to recall those years.
Posted on 4/14/21 at 8:11 am to Powerman
quote:
Gas prices going up isn't necessarily bad
They tend to go down when the bottom of the economy drops out
See 2008 recession and see what happened once COVID wrecked the economy. Steep declines in prices.
are you stupid or something?
wtf does 2008 have to do with 2021. plain compare the 2 years
Posted on 4/14/21 at 8:11 am to Vacherie Saint
quote:
now that everything is more expensive, we can tax the shite out of the supply side to juice prices even more. Then, we'll hammer the middle class with new taxes just to make sure any chance of economic recovery impossible! And our idiot followers and the media will twist and contort to make excuses for us.
-The Democrat party
Solid assessment.
Posted on 4/14/21 at 8:13 am to TerryDawg03
quote:
CPI is the biggest joke ever.
Take whatever inflation rate cpi gives, and triple it. Cpi is a joke
Posted on 4/14/21 at 8:15 am to GumboPot
quote:Gosh. I wonder why.
– Gasoline Prices Increase 9.1% in One Month
It must be that doggone Suez Canal thing. Surely it has nothing to leftist New Green Policy.
Posted on 4/14/21 at 8:15 am to ksayetiger
quote:
are you stupid or something?
wtf does 2008 have to do with 2021
The economy tanked in 2008 leading to lower gas prices
The economy tanked in 2020 leading to lower gas prices
It's not that difficult
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