U.S. Inflation Reached 30-Year High in October 2021

october inflation rate ------ another case of bad timing
the Sept COLA was pegged at 5.9%.... in the practical world, Prez J biteone spending bills fanned-the-flames for an Oct inflation rate of 6.2%....

all the retired/disabled on fixxed income pay checks...saw their COLA pay raise get dwindeled -.3% in one month

if this increased inflation continues at that pace -> the SS increase will be short-lived indeed, in losing 1% of the takehome increase before the first check is paid out in January 2022

is the Trillion dollar infrastructure plan going to cost us all an average inflation rate of 1% every Quarter (3 month periods 4 x a year )

originally posted by: xuenchen
At least I proved my point.

With emojis? You go, boy. Totally proved your point.

Now tell me how Biden did inflation.

Last year the price of a barrel of oil was negative. That's not a good thing, but we all enjoyed those gas prices. It wasn't negative because MAGA, a pandemic happened and people weren't traveling.
The demand for petroleum is where it was pre-covid, but the supply is not there. Worldwide.

Add a bunch of tariffs on imported materials, and here we are. They're not going to take that hit, they'll work it into their export prices. Here we are.

originally posted by: LordAhriman

originally posted by: xuenchen
At least I proved my point.

With emojis? You go, boy. Totally proved your point.

Now tell me how Biden did inflation.

Last year the price of a barrel of oil was negative. That's not a good thing, but we all enjoyed those gas prices. It wasn't negative because MAGA, a pandemic happened and people weren't traveling.
The demand for petroleum is where it was pre-covid, but the supply is not there. Worldwide.

Add a bunch of tariffs on imported materials, and here we are. They're not going to take that hit, they'll work it into their export prices. Here we are.

Hell, I ain't gonna worry you got it all figured out, amazingly an expert on communicable diseases and worldwide economy expert all rolled into one lord, we are truly graced by your presence here.

BTW it isn't that Biden causes the inflation it is his actions or lack thereof, that makes it much worse and lasts significantly longer. If nothing else the uncertainty and growing distaste for his administration doesn't make for a healthy economic forecast. THE FIRST PART IS IDENTIFYING THE PROBLEM, as of July 19th we got BIDEN telling us there is no inflation

www.nationalreview.com...

Inflation and the Supply-Chain Mess Are Getting Really Bad. Is Biden Paying Attention?

It’s not that the climate summit, court fights over access to documents related to the January 6 Capitol Hill riot, and Republican infighting in the aftermath of the infrastructure bill aren’t news. But if you had to guess which issue we’re still going to be talking about in six months, you probably wouldn’t pick those. You would probably pick the economy, particularly the angles of inflation and the supply-chain problems.

Even with all of the focus on education in Virginia, exit polls still found that the single most important issue to voters was the economy. And if you listen to the economists, we are nowhere near the end of this current painful bout of inflation

Every time there are new bad numbers on inflation, I look back to President Biden’s angry, defensive assertion on July 19: “There’s nobody suggesting there’s unchecked inflation on the way — no serious economist. That’s totally different.”

In fact, as the New York Times concedes, the new data are likely to undermine another bit of the administration’s spin:

White House officials have embraced a key talking point as a bout of high inflation hits consumers and hands, Republicans, ammunition to argue against President Biden’s policies: Price gains may be faster than usual, but at least they are slowing down from rapid summertime readings.

Data to be released on Wednesday is likely to eliminate that shred of comfort.

originally posted by: putnam6
So all I know is in the '90s our business and industry(Bridal and Social Occasion apparel) took a huge hit, our retail stores that are left are doing well but it feels fleeting and it in no way covers the losses from 2020 on. So what's next? what is gonna turn this economy around? I've always believed the old adage is it's a cycle and it can't be stopped, but it can be made considerably worse or longer-lasting. Well, last time it lasted in my business for about 10 years...


www.wsj.com...

Consumer-price index rose at 6.2% annual rate, while core index was up 4.6%

U.S. inflation hit a three-decade high in October—rising at a 6.2% annual rate—as pandemic-related supply shortages and continued strength in consumer demand continued to push up prices.

The Labor Department said the consumer-price index, which measures what consumers pay for goods and services, increased at the fastest annual pace since 1990. Inflation also topped 5% for the fifth straight month.

Update 12/11/2021

Another BIDEN LIE revealed yesterday by the Congressional Budget Office..

BIDEN says his multi-trillion-dollar Build-Back-Better program will Lower Inflation and not add anything to the National Deficit.

Updated CBO estimates are even worse than they were last month.

Build-Back-Better will INCREASE INFLATION and INCREASE the DEFICIT by $3 Trillion Dollars!

Source: www.washingtonexaminer.com...

President Biden and his Administration are not of this Universe. Things don't work here the way they think they do.