White House warns CPI inflation number will be elevated | Metals Mine

  • White House warns CPI inflation number will be elevated

    From axios.com

    White House officials are preparing the country for a hot inflation rate ahead of the release of Wednesday's Consumer Price Index, but they insist that some key inflation components — including gas prices — are coming down. Driving the news: Independent economists estimate that annual headline inflation will increase to 8.8% for June — up from 8.6% in May — when the Bureau of Labor Statistics releases its CPI report on Wednesday at 8:30 a.m. ET. While Biden officials were careful not to predict that June’s CPI print would be the high-water mark for inflation, they noted that average gas prices have been ... (full story)

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Goat
Jul 12, 2022 5:56pm
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To put the inflation problem in perspective, this is what CPI looked like, m/m, for the last 20 years.
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mbefus
Jul 12, 2022 7:12pm
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There's definitely been a change in character afoot over the last 18 months. The USD is getting stronger AND weaker at the same time. Thanks for the charts.
swagtrading
Jul 12, 2022 10:04pm
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Quoting mbefus
There's definitely been a change in character afoot over the last 18 months. The USD is getting stronger AND weaker at the same time. Thanks for the charts.
Excellent way to put it. Weaker purchasing power where more and more $$ is needed to buy same amount of goods (inflation) and stronger against other currencies!
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DonFF
Jul 13, 2022 9:07am
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Clearly the system is not just about pricing....But gouging....Those with all the money in the world keep moving price purely in the interest of Greed.....So those with the most must prevail....And its really only a few has most of the money....so this so called free market is really just a freely manipulated market!
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