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New 40-Year Record High Inflation, 9.1% The Real Number is Much Worse By Justin DesChamps
New 40-Year Record High Inflation, 9.1%
The Real Number is Much Worse
By Justin DesChamps
https://rayviolet.blogspot.com/2022/07/new-40-year-record-high-inflation-91the.html
The latest economic figures released by the US Bureau of Labor Statistics confirm what everyone’s been feeling in their wallets—record high inflation.
Released earlier today, the consumer price index (CPI) came in at 9.1%. The CPI measures a carefully selected basket of goods and services—the official method for measuring inflation. This is the single largest increase since 1981.
Inflation refers to the average increase of products within an economy, which indicates the loss of purchasing power. For instance, if a gallon of milk cost $8 last year, rising to $8.80, this means that the cost has remained essentially the same—but the value of the dollar has dropped by 10%.
What Prices Increased the Most?
Inflation hit the energy and food sectors most sharply, with unleaded gas prices peaking at a national average of $5 per gallon.
Removing food and energy reduces the rate to 5.9%, confirming that these sectors have risen the most...+
https://rayviolet.blogspot.com/2022/07/new-40-year-record-high-inflation-91the.html
The Real Number is Much Worse
By Justin DesChamps
https://rayviolet.blogspot.com/2022/07/new-40-year-record-high-inflation-91the.html
The latest economic figures released by the US Bureau of Labor Statistics confirm what everyone’s been feeling in their wallets—record high inflation.
Released earlier today, the consumer price index (CPI) came in at 9.1%. The CPI measures a carefully selected basket of goods and services—the official method for measuring inflation. This is the single largest increase since 1981.
Inflation refers to the average increase of products within an economy, which indicates the loss of purchasing power. For instance, if a gallon of milk cost $8 last year, rising to $8.80, this means that the cost has remained essentially the same—but the value of the dollar has dropped by 10%.
What Prices Increased the Most?
Inflation hit the energy and food sectors most sharply, with unleaded gas prices peaking at a national average of $5 per gallon.
Removing food and energy reduces the rate to 5.9%, confirming that these sectors have risen the most...+
https://rayviolet.blogspot.com/2022/07/new-40-year-record-high-inflation-91the.html
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