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SK8T3R215 11/10/21 10:57:10 AM #1: |
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. That compared with the 5.9% Dow Jones estimate. On a monthly basis, the CPI increased 0.9% against the 0.6% estimate. Stripping out volatile food and energy prices, so-called core CPI was up 0.6% against the estimate of 0.4%. Annual core inflation ran at a 4.6% pace, compared with the 4% expectation and the highest since August 1991. Fuel oil prices soared 12.3% for the month, part of a 59.1% increase over the past year. Energy prices overall rose 4.8% in October and are up 30% for the 12-month period. Used vehicle prices again were a big contributor, rising 2.5% on the month and 26.4% for the year. New vehicle prices were up 1.4% and 9.8%, respectively. Food prices also showed a sizeable bounce, up 0.9% and 5.3% respectively. Within the food category, meat, poultry, fish and eggs collectively rose 1.7% for the month and 11.9% year over year. The price increases meant that workers fell further behind. In a separate report, the Labor Department said real wages after inflation fell 0.5% from September to October, the product of a 0.4% increase in average hourly earnings that was more than offset by the CPI surge. Shelter costs, which make up one-third of the CPI computation, increased 0.5% for the month and are now up 3.5% on a year-over-year basis, pointing to more reasons for concern that inflation could be more persistent than policymakers anticipate. The annual pace is the highest since September 2019. Inflation is clearly getting worse before it gets better, while the significant rise in shelter prices is adding to concerning evidence of a broadening in inflation pressures, said Seema Shah, chief strategist at Principal Global Investors. https://www.cnbc.com/2021/11/10/consumer-price-index-october.html This is fine. --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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Rathinor 11/10/21 11:00:47 AM #2: |
SK8T3R215 posted...
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.Weren't you just claiming the booming stock market was a result of it still being Trump's fiscal year in another topic ... Copied to Clipboard!
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SK8T3R215 11/10/21 11:03:10 AM #3: |
Rathinor posted...
Weren't you just claiming the booming stock market was a result of it still being Trump's fiscal year in another topic Babbys first trolling --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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AngelsNAirwav3s 11/10/21 11:03:11 AM #4: |
Are they still claiming this inflation is transitory?
--- Hello world! ... Copied to Clipboard!
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JuanCarlos1 11/10/21 11:03:30 AM #5: |
So the poor and the middle class are poorer, while the rich raking in those profits from higher prices cause I assume the net margin profit is bigger anyway despite higher operating cost.
--- Mas dicen, que en las dimensiones de nuestro ser... hay muchos detalles por conocer... ... Copied to Clipboard!
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Squall28 11/10/21 11:05:57 AM #6: |
Surprised it's not higher. A lot of the food I buy is like 50% more expensive.
--- You can't go back and change the beginning, but you can start where you are and change the ending. -Misattributed to CS Lewis ... Copied to Clipboard!
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Rathinor 11/10/21 11:07:54 AM #7: |
SK8T3R215 posted...
Babbys first trollingThis topic, or your post in the other one? ... Copied to Clipboard!
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Doom_Art 11/10/21 11:17:43 AM #8: |
Conservatives care about inflation and government spending again? It's hard to keep track tbh
--- Not removing this until Mega Man 64 is released on the Wii Virtual Console. Started on: 12/1/2009 https://imgur.com/mPvcy ... Copied to Clipboard!
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ElatedVenusaur 11/10/21 11:24:01 AM #9: |
JuanCarlos1 posted...
So the poor and the middle class are poorer, while the rich raking in those profits from higher prices cause I assume the net margin profit is bigger anyway despite higher operating cost.Don't worry, they'll probably institute austerity no later than when Republicans retake Congress to make sure the richies wealth is unaffected. --- She/her ... Copied to Clipboard!
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bigblu89 11/10/21 11:24:49 AM #10: |
So, who's fiscal year is it? Trump's or Biden's?
Or do we pick an choose based on the conversation? Dow Jones at an all time high? Trump's fiscal year! CPI rises the highest in 30+ years? Biden's fiscal year! Do you have a "Blame/Credit" spread sheet to keep track of all this? --- It takes zero effort to be a good person. ... Copied to Clipboard!
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SK8T3R215 11/10/21 12:09:25 PM #11: |
Doom_Art posted...
Conservatives care about inflation and government spending again? It's hard to keep track tbh What does being a conservative or a liberal have to do with inflation? It affects everyone so I don't get why you're bringing politics into this... --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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bigblu89 11/10/21 12:21:21 PM #12: |
SK8T3R215 posted...
What does being a conservative or a liberal have to do with inflation? It affects everyone so I don't get why you're bringing politics into this...Because 90% of the people want to blame/praise their loved/hated politician when things go good/bad. Like when you heaped praise on Trumps fiscal year for the Dow being so good. --- It takes zero effort to be a good person. ... Copied to Clipboard!
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SK8T3R215 11/10/21 12:29:29 PM #13: |
bigblu89 posted...
Like when you heaped praise on Trumps fiscal year for the Dow being so good. Making a very obvious trolling comment is heaping praise? Lmfao yikes sorry for your DDIQ. --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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kingdrake2 11/10/21 12:31:54 PM #14: |
Squall28 posted...
A lot of the food I buy is like 50% more expensive. right. especially on ground beef. it's 5$ a pound if don't get it on sale even then it maybe chops 1-2$ per pound. soda is up 30 cents (found a brand at walmart that negates the increase). going to walmart cuts the costs of some things (mainly my pasta sauce and noodles that i like for lunch every few days). --- Explorers In The Further Regions Of Experience, demons to some, Angels To Others: Pinhead ... Copied to Clipboard!
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bigblu89 11/10/21 12:52:53 PM #15: |
SK8T3R215 posted...
Making a very obvious trolling comment is heaping praise? Lmfao yikes sorry for your DDIQ.Obvious or not, you were still doing it. And that's why people think their "side" winning is more important than the country being successful. --- It takes zero effort to be a good person. ... Copied to Clipboard!
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Doom_Art 11/10/21 1:01:37 PM #16: |
I'm pretty embarrassed for TC itt
--- Not removing this until Mega Man 64 is released on the Wii Virtual Console. Started on: 12/1/2009 https://imgur.com/mPvcy ... Copied to Clipboard!
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BlueTigerLion 11/10/21 1:02:53 PM #17: |
bigblu89 posted...
So, who's fiscal year is it? Trump's or Biden's? Why are people still bringing up Trump it has been a year since he was President. --- Hey now. ... Copied to Clipboard!
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SK8T3R215 11/10/21 1:11:29 PM #18: |
bigblu89 posted...
Obvious or not, you were still doing it. So you fell for very obvious trolling. Doom_Art posted... I'm pretty embarrassed for TC itt I'm embarrassed you think everything is Democrats vs Republicans when this topic has nothing to do with them. It's about the Federal Reserve hth. --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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bigblu89 11/10/21 1:33:00 PM #19: |
BlueTigerLion posted...
Why are people still bringing up Trump it has been a year since he was President.Because like I said above, people like to credit their "side". So to a Trump supporter, whatever is bad, it's because of the current administration, and whatever is good is because of the past administration that the current administration hasn't had a chance to mess up yet. --- It takes zero effort to be a good person. ... Copied to Clipboard!
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bigblu89 11/10/21 1:36:58 PM #20: |
SK8T3R215 posted...
So you fell for very obvious trolling.To 90% of the population, any political talk is ONLY about Democrats vs Republicans. They'll openly root for the country to fail if it means they can blame the "other side". I've seen people on Twitter (which, admittedly isn't really the real world) actually lament the US Covid numbers getting better, because it means people can actually give Biden policies credit for helping to stop the spread. Trolling helps no one. --- It takes zero effort to be a good person. ... Copied to Clipboard!
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Doom_Art 11/10/21 1:41:26 PM #21: |
SK8T3R215 posted...
I'm embarrassedI'm glad you can admit it --- Not removing this until Mega Man 64 is released on the Wii Virtual Console. Started on: 12/1/2009 https://imgur.com/mPvcy ... Copied to Clipboard!
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SK8T3R215 11/10/21 1:43:01 PM #22: |
Doom_Art posted...
I'm glad you can admit it Wish you could troll better. --- New York Knicks, New York Jets, New York Yankees. ... Copied to Clipboard!
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Mearcstapa 11/10/21 9:18:42 PM #23: |
Jerome Powell and the entire Fed board ought to be [redacted] for keeping interest rates at 0.
--- after years of waiting nothing came ... Copied to Clipboard!
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Quicksilver 11/10/21 9:22:03 PM #24: |
Guys this inflation is not a problem as Americans are flush with cash and even the poorest of Americans have 50% more in savings I am so sick of people fear mongering when they don't know what they are talking about. I have it on good authority that this inflation isn't actually a problem but a good thing.
Just read this article and you will see why. https://www.msnbc.com/opinion/how-covid-became-unlikely-hero-our-inflation-crisis-n1283443 --- I play video games. ... Copied to Clipboard!
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RamboCell29 11/10/21 9:22:24 PM #25: |
The US has been printing money for decades.
Trump and congress turned the money printer on overdrive and got this really stirred up last year. Biden printed more money and seeks to exceed in his first year what Trump did in his last. In the end, our country is ran by morons. --- Ron DeSantis/Tim Scott 2024 ... Copied to Clipboard!
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ultimate reaver 11/10/21 9:24:16 PM #26: |
things are about to get really bad lol
--- I pray god will curse the writer, as the writer has cursed the world with this beautiful, stupendous creation, terrible in its simplicity, irresistible in truth ... Copied to Clipboard!
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Fam_Fam 11/10/21 9:26:09 PM #27: |
RamboCell29 posted...
The US has been printing money for decades. no the morons are the people who keep voting for them ... Copied to Clipboard!
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Dat_Cracka_Jax 11/11/21 7:58:10 AM #28: |
So the "supply chain issues" have nothing to do with increase in prices? I was thought that lower supply and higher demand increases prices.
--- ... Copied to Clipboard!
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lilORANG 11/11/21 8:00:21 AM #29: |
Inflation, like money, isn't even real. They could just dial the rate down if they wanted but they like to fear monger.
--- ... Copied to Clipboard!
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HairyQueen 11/11/21 8:00:31 AM #30: |
Just glad LGMA is doing well. My portfolio lookin sweet af >_>
--- Good vibes only ... Copied to Clipboard!
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