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U.S. Inflation At 25-year High

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posted on Oct, 14 2005 @ 08:51 AM
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Inflation jumped 1.2 percent in the lastest Labor Department CPI report, as consumer prices rose to 25 year highs. Energy costs rose 12 percent last month and this is the largest monthly increase since the department started collecting data in 1957.
 



www.marketwatch.com
Consumer inflation has now risen 4.7% in the past 12 months, the highest since 1991. Core inflation is up 2% in the past year, down from 2.1% in August.

The big story in the CPI was energy, which surged a record 12% after Hurricanes Katrina and Rita devastated oil and gas production and distribution from the vital Gulf Coast region.

Gasoline prices jumped a record 17.9%, while natural gas prices rose 12.1%. Fuel oil prices rose 12.7%. Energy prices are up 34.8% in the past year.


Please visit the link provided for the complete story.


When it rains it pours. A low core rate and a high CPI means that earnings aren't inflating with inflation.

Related News Links:
www.washingtonpost.com



[edit on 14-10-2005 by Regenmacher]

[edit on 10/17/05 by FredT]




posted on Oct, 14 2005 @ 09:38 AM
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Glad to see some mention of this topic.

Inflation doesn't get much press these days, not compared to the coverage it recieved during the last gas 'crisis'. Back then, the inflation numbers were dramatically announced every day, now they just seem to get shrugged off for the most part.

In the last couple of weeks alone, the price of groceries has jumped quite noticeably, and will likely do so again. Between the costs of transport and losses due to the storms, it's inevitable. When the costs of heating are figured into the next inflation numbers, there's no telling how much higher they could go.



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