Tuesday’s report from the Labor Department showed that consumer prices in June rose 0.9% from May and 5.4% over the past year — the sharpest 12-month inflation spike since June 2008. Excluding volatile oil and gas prices, so-called core inflation rose 4.5% in the past year, the largest increase since November 1991.
If so, that would risk weakening the economy and potentially derailing the recovery. Fed officials have repeatedly said, though, that they regard the surge in inflation as a temporary response to supply shortages and other short-term disruptions as the economy quickly bounces back.The economy’s reopening has led consumers to increasingly travel, dine out and shop after avoiding crowds for a year. That burst of spending has forced up prices for restaurant meals, clothes, and airplane tickets.
Americans’ longer-term views on inflation have also leveled off. A survey by the Federal Reserve Bank of New York, released Monday, found that consumers expect inflation to remain near 5% a year from now. But they expect inflation to be 3.5% three years from now, down slightly from last month. Consumers typically overestimate future inflation.
Stagflation, Democrats own goooooooaaaaaalllllll
SleepyJoe strikes again
But Joe said everything was cheaper this July 4th
Thanks Joe Biden!!!😟😡
Thanks Biden / Harris economics. Government provided a stimulus and now taking it back. Slowly. Please put people to work and unlock the country.
No big deal! I’m making $15 an hour, now!!! Big bucks baby!!!!
Democrats are really making an impact in America.
Do they or don’t they want customers?
Biden’s America
This was always going to be a thing since the pandemic came and Trump and Biden were spending money like it's going out of style. Why the fuck is everyone so shocked
Meanwhile, Costco is jam-packed!
Wow that’s childish. Should fire all of them and ask adults to fill in.
Thanks Biden and all that voted for him.
Please help Us reach our fundraising goal. sign up on the prelaunch.
What flavor ice cream is the President eating today?
But but but Biden won't raise taxes for people making under $400,000. Sheep
Welcome to BidensAmerica
I’d expect this trend to continue up to Q4 as Price increases are still being passed down by manufacturers due to severe inflation from Q1 and Q2.
The minimum wage increase comes out of the pockets of the consumers. Thank the socialist party in Washington.
And the rich get richer..
Here are the items really driving up inflation: Car rental 87.7% (y/y change) Used cars 45.2% Gas 45.1% Laundry machines 29.4% Airfare 24.6% Moving 17.3% Hotels 16.9% Furniture 8.6% Bacon 8.4% TVs 7.6% Fruit 7.3% Shoes 6.5% Fresh fish 6.4% New cars 5.3% Milk 5.6% Rent (OER) 2.3%
It always coincides with the con artists of capitalism, where they put pressure on labor to get back to work at slave wages. This is not done by a magic trick, it's the ploy of the slave drivers cracking the whip to maintain inequality of wage theft in a so-called 'free market.'
ارتفعت اسعار_المستهلكين_الأمريكيين في زيادة شهرية ثالثة على التوالي في يونيو . حيث أظهر تقرير لوزارة العمل أن الأسعار ارتفعت بنسبة 0.9٪ عن مايو و 5.4٪ خلال العام الماضي. ويعد هذا أكبر ارتفاع في نسبة التضخم في 12 شهرًا منذ يونيو 2008.
AnthonyNBC12 Supply and demand.
Lucky Canada has Prime Minister Trudeau and Finance Minister Freeland and we doubled our national debt in the last five years. If the U.S. had taken this precaution to protect against the potential impact of inflation, wouldn’t they be much better off?
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »