Axios: Consumer Prices Shot Up 0.9% In June

This is excluding food and energy.

Don’t we love our gas prices and grocery prices these days? I’m reminded of it virtually every single day. This is everything else that has gone up over the past three months.

Axios:

“Prices for goods and services, excluding food and energy, shot up 0.9% in June on a month-over-month basis, according to the Core Consumer Price Index reading published Tuesday morning.

Why it matters: That’s an uptick from May’s monthly change of 0.7%. Economists were expecting an increase of 0.4%.

Including energy and food prices, the headline CPI figure shows a 0.9% monthly increase, compared to a 0.6% uptick in May

On a yearly basis, June prices shot up 5.4%, compared to the 5% change in May. …

Uncooked beef and veal prices rose 6.4%. …”

Axios:

“June’s jump in consumer prices was the biggest year-over-year increase for any month since 2008 — a surprising 5.4%, with used cars and trucks responsible for one-third of the surge.

Why it matters: The White House was counting on fleeting inflation. Now, it’s starting to look like it could last. …”

Isn’t the plan to spend like $4 trillion to $6 trillion more on two separate infrastructure bills without raising taxes?

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11 Comments

  1. “Isn’t the plan to spend like $4 trillion to $6 trillion more on two separate infrastructure bills without raising taxes?”:

    However the actual new spending is much less than it sounds, and mostly designed to benefit (subsidize) corporations and military. It is hype, and smoke, not a real, progressive, five-year plan to repair and create more infrastructure that will benefit the vast majority of the U.S. population. The Empire is focused on imperialism now, and if the Empire can destroy enough infrastructure in other countries and create chaos everywhere, it doesn’t have to maintain public infrastructure here.

    The way to not raise taxes, and actually lower taxes, is to stop paying interest to private bankers, institute public banking and control of money, expropriate the property of the rich, end all wealth inheritance, and make food, shelter, health care, education, and all other essentials of life available to everyone at no charge.

    • “make food, shelter, health care, education, and all other essentials of life available to everyone at no charge.”

      And grow lollipop trees to feed rainbow unicorn.

    • “the headline CPI figure shows a 0.9% monthly increase, compared to a 0.6% uptick in May.
      On a yearly basis, June prices shot up 5.4%, ”

      Uhh, if you annualized 0.9%, that’s 11% a year.
      The way they phrase the report is deceitful, at best.
      Plus, they don’t put emphasis on the powerfully accelerating rate of inflation.

      Unlike the 1980s inflation, savers are not getting 15+% on savings, they are getting near 0%. Zog is doing a supper screw job on Americans.

        • Yes, I always say that. The double-digit inflation in the Carter years was tempered by double digit interest on common people’s savings. Back then, the Soviet Union still existed, and was still a force for respect for the rights of the common man, and capitalism had to treat its subjects much better than it otherwise would. But now that the world is unipolar, the Usury is no holds barred.

  2. Wait until the end of the month to buy meat, usually by then the food stamp people have spent their allowance, and the prices get cut to get rid of it.

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