USA: US Consumer Prices Are Rising At Their Fastest Pace In Over 40 Years
ZH
With the Biden administration already setting the narrative yesterday that today’s inflation print could be ‘high’, and expectations for a headline print of +7.9% YoY (from +7.5% YoY in January), the bar was high for any surprises and the headline print came in right in the dot at +7.9% YoY – the highest since Jan 1982.
Source: Bloomberg
That is the 21st straight month of MoM (non-transitory) increases in consumer prices, with Energy (and Services) dominating the recent surge…
Source: Bloomberg
On a MoM basis, Energy and Services costs also dominated the increases…
Source: Bloomberg
One thing of note… one tiny sliver of hope… Used Car prices fell very modestly in February…
But, in the interest of balance, the costs of a roof over your head are exploding higher…
- March shelter inflation 4.74%, up from 4.36% in Jan and the highest since May 1991
- March rent inflation 4.17%, up from 3.76% and the highest since July 2007
Source: Bloomberg
Core CPI rose 6.4% YoY in February (in line with +6.4% expectations and well above +6.0% in January)
Source: Bloomberg
Finally, and to many, most importantly, real wages (average hourly earnings) dropped on a YoY basis for the 11th straight month…
Source: Bloomberg
So the next time the Biden admin tries to tell you to be grateful that your wages are rising, show them that chart!
Join: 👉 https://t.me/acnewspatriots
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of AC.NEWS
Disclaimer: This article may contain statements that reflect the opinion of the author. The contents of this article are of sole responsibility of the author(s). AC.News will not be responsible for any inaccurate or incorrect statement in this article www.ac.news websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner. Reprinting this article: Non-commercial use OK. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Discussion about this post