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Key Inflation Measure Soars to 30-Year High

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Posted By: Dreadnought, 10/1/2021 1:53:55 PM

The Federal Reserve’s preferred inflation gauge, the core personal consumption expenditures price index, which excludes food and energy costs, soared to a 30-year high in August. The measure increased 0.3 percent for the month and was up 3.6 percent from last year in its steepest climb since May 1991, a trend suggesting that the pandemic’s inflationary pressures, catalyzed by massive government spending, supply chain bottlenecks and surging demand, are not correcting as quickly as some economists anticipated. With the more volatile staple categories of food and energy factored back in, PCE prices increased 0.4 percent for the month and 4.3 percent year over year, the highest hike since January 1991,

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Reply 1 - Posted by: Lazyman 10/1/2021 2:28:25 PM (No. 932248)
The Feds dual mandate is maximum employment and a stable dollar. This is another of the failures of this government and the manipulation of markets that are built like a house of cards. 6% plus inflation and 0% interest and free money to help support zombie companies and encourage an Uber to run a million in debt each day in order to undercut and bankrupt the Taxi industry. Of course after they drive (pun) them out they raise the prices more than the original taxi fares. Meanwhile the Fed keeps printing money and gold goes down along with the manipulated paper gold market. The chickens are going to to come home when true price discovery comes back along with real markets and they always do.
5 people like this.

Reply 2 - Posted by: Ribicon 10/1/2021 2:34:20 PM (No. 932255)
Janet and Jerome see no problem. They can afford to buy anything they want without even considering the price. If we can't do the same, well, we should have made more powerful connections in life so we could rise well beyond our level of competence, just as they did. Better luck next time, suckers.
8 people like this.

Reply 3 - Posted by: Urgent Fury 10/1/2021 4:20:49 PM (No. 932334)
Hey that's the price we have to pay so there are no more mean tweets from a Bad Orange Man.
8 people like this.

Reply 4 - Posted by: JHHolliday 10/1/2021 4:47:19 PM (No. 932344)
I have an original 100 trillion Zimbabwe bank note. It’s a reminder of where we are headed in this country. At the time it was issued, it was only worth 48 cents US.
4 people like this.

Reply 5 - Posted by: cor-vet 10/1/2021 6:02:21 PM (No. 932393)
What say the two brightest economists the democrats have, Krugman and Occasionally Cognizant?
3 people like this.

Reply 6 - Posted by: bad-hair 10/1/2021 6:48:24 PM (No. 932433)
The federal reserve has their inflation gauge. I have a couple of my own. One is on the dashboard of my car. My gas tank is getting bigger. It used to hold 40 bucks worth. Now it holds 75 bucks worth. And my grocery bags have gotten smaller. Here's where you can put your inflation gauge. Up every single Democrat incumbent who has the gall to run for re-election and most of the Republicans too. MAGA
5 people like this.

Reply 7 - Posted by: mifla 10/2/2021 6:00:52 AM (No. 932699)
Sure looks like it at my neighborhood grocery store. Thanks Joe.
1 person likes this.

Reply 8 - Posted by: udanja99 10/2/2021 1:06:33 PM (No. 932989)
Happy now, Talibiden voters?
1 person likes this.

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