- Mar 25, 2023
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CPI inflation continued to rise last month, going up 0.6% for all items (3.7% from last August)
www.bls.gov
Oil prices are up 24% since May, and gas prices are up over 34% since Biden took office
Commodity inflation continues, with the prices of heating oil, copper, aluminum, etc. all up in the last 6 months.
Rents have risen 7.8% sin the last 12 months, and raging inflation continues in the housing market. Health insurance premiums are expected to rise 7% next year.
With bad news everywhere, and inflation going in the wrong direction, the Federal Reserve will have to continue hiking rates aggressively to get things under control.
Don't believe any headlines that try to tell you this is only because of gas prices, and that the core CPI still looks good. That is nonsense--there is inflation all over the economy, and the Core CPI will be going back up in the next report.
Inflation-adjusted incomes are down dramatically, and down over the last 3 years
Many economists expect a recession to hit in the first quarter of next year, after miserable holiday sales numbers. I expect it to be deep, with dozens of failing regional banks, and a hurricane of layoffs
welcome to the 1970s ...
CPI Home
www.bls.gov
Oil prices are up 24% since May, and gas prices are up over 34% since Biden took office
Commodity inflation continues, with the prices of heating oil, copper, aluminum, etc. all up in the last 6 months.
Rents have risen 7.8% sin the last 12 months, and raging inflation continues in the housing market. Health insurance premiums are expected to rise 7% next year.
With bad news everywhere, and inflation going in the wrong direction, the Federal Reserve will have to continue hiking rates aggressively to get things under control.
Don't believe any headlines that try to tell you this is only because of gas prices, and that the core CPI still looks good. That is nonsense--there is inflation all over the economy, and the Core CPI will be going back up in the next report.
Inflation-adjusted incomes are down dramatically, and down over the last 3 years
Many economists expect a recession to hit in the first quarter of next year, after miserable holiday sales numbers. I expect it to be deep, with dozens of failing regional banks, and a hurricane of layoffs
welcome to the 1970s ...
