Inflation hits new 40 year high with report out July 13th. another on July 29

July is going to be a lot lower as energy prices have receded. Barring any new geopolitical shocks, like China invading Taiwan or Russian/Ukrainian conflict broadening (both of which have non trivial probabilities) It seems likely with current trends we get something in the 4-7% range for a while.

 

I could be wrong, but since the main number is comparing to prices from the same month a year ago, it seems like it could still be 7+% just because much of the increase is already baked in.

The month to month will definitely be lower, though. Maybe even negative.

 

Yeah,just keep on towing the Biden line.

 

Keep blaming Biden for a world wide problem. It just shows the sycophantic alignment with a political side as opposed to any real understanding of economics. Like most people. Fortunately, you are here where lack of knowledge can be called out and you can be educated. It will never change posting because facts are not what it is about. For example, let’s look at China, a major trade partner for US countries. With all of the raging demand here pressuring prices, how is a nation where US Goods are manufactured doing? And how is the US by comparison? China’s economy is shrinking. Because of its virus policies. So, what is the effect that has on our economy?
China economy shrinks on zero-Covid policy - BBC News But, all hail the GOP. They will fix it. They will stop Putin, allowing the bereft sector to return to prewar conditions. Their immigration policies will allow in more people to reduce the pressure on wages by attracting workers. Right

 

man inept joe must be paying you big time to defend his stupidity

 

Finally dropped to around $4 in Jacksonville

 

Yeah, the increase in food prices is particularly notable. Just got back from WalMart and I somehow fit $180 of groceries into two personal shopping bags. Only meat was 1 pack of kielbasas.
I feel compelled to eat every morsel knowing the cost (also hear my mom in my head chiding me about starving children in China) and weirdly I’m gaining weight due to increase in costs.

 

They still grew at 2+% H1 overall, and latest indicator seems to indicate that Q3 will see a rebound effect as many economies have done coming out of lockdowns. We're on track for a 2-3% H1 decrease if the GDPNow numbers hold.

Also, just because China has torpedoed their own economy with the asinine zero-COVID policy doesn't really excuse us from torpedoing our economy with excessive stimulus and useless sanctions.

 

I meant July by itself. Not the year over year.

 

I’m not exactly who or what you are responding to, but Biden and the Democrats did exacerbate the problem with the excessive Covid payments in 2021. It stoked demand higher than normal when supply was already low. Also, the decision to support Ukraine and cut off Russia, which I fully support, has contributed to inflation. Also, Biden’s prior disparaging rhetoric toward Saudi Arabia and MBS, which I generally agree with, has made it impossible to get Saudi to help alleviate the oil supply program which SA could easily do.

Biden also wanted to do BBB, which had some decent parts, but included another year or stimulus in the form of extended child tax credits that weren’t paid for until over the next 10 years.

 

what will happen after Biden finishes draining our oil reserve?

 

yup and our fuel prices will go back up.

Democrats, remember blocking Trump from increasing the reserve at a much lower price?

 

Fed slowing rate increases, although ECB increased. But still a good sign about trend

Powell may slow Fed’s rate increases - Tampa Bay Times

 

'Inflation fee' tacked onto Macaroni Grill bill

Not sure if this was posted when it came out a week ago but I thought this was a good thing to do by the chain restaurant unless I'm missing something.

I don't see how some are complaining about an inflation surcharge since the company publicly states the charge will be removed once prices cool. Does anyone see any of the restaurants that raise their menu prices instead of a surcharge ever dropping their prices again? Doubtful.

 

define " when prices cool "

 

Nah you can do that since you bring nothing of substance to discussions other than drive by snarky tantrums. It will be a nice start.