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Another Month Another Big Inflation Report
[BureauOfLaborStatistics] The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in September on a seasonally adjusted basis after rising 0.3 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment. The indexes for food and shelter rose in September and together contributed more than half of the monthly all items seasonally adjusted increase. The index for food rose 0.9 percent, with the index for food at home increasing 1.2 percent. The energy index increased 1.3 percent, with the gasoline index rising 1.percent. Beginning in Jan 2021, the annualized rate has been above 3% with some months, e.g., March- June above 7%. Wage rates have increased during this time but only about 3-4% annualized, so, as many Rantburgers have pointed out, this acts as a tax. Related: Consumer Price Index: 2021-09-21 California drivers react to the most expensive gas in America Consumer Price Index: 2021-06-16 Retail Sales Tank As Prices Continue To Skyrocket Due To Inflation Consumer Price Index: 2021-05-14 New Math: Psaki Says Inflation Is a Sign of Economic Success Posted by: Lord Garth 2021-10-14 |
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