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Topic Title: Inflation Surges to Highest Level in 30 Years
Topic Summary: Vote demoshit...this is what you get!
Created On: 11/10/2021 02:35 PM
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 11/10/2021 02:35 PM
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Fish Killer

Posts: 71439
Joined Forum: 10/09/2005

ECONOMYNEWS
Inflation Surges to Highest Level in 30 Years
Harry Wilmerding
November 10, 2021

The Consumer Price Index increased 0.9% in October, bringing the key inflation indicator's year-over-year increase to 6.2% as supply shortages continue and demand grows, the U.S. Bureau of Labor Statistics announced Wednesday.

The year-over-year inflation figure is an increase from September's 5.3% level, marking the highest level in 30 years, according to the Bureau of Labor Statistics report. Economists surveyed by The Wall Street Journal projected the Consumer Price Index would increase to just 5.9% in October.

The core price index, which excludes volatile categories like food and energy, jumped 0.6% in October, an increase from September's 0.2% figure, according to the Bureau of Labor Statistics.

"I do think we're moving into a new phase where inflation is broader and where things are going to get a little more intense," Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives, told The Wall Street Journal.

Food prices increased 0.9%, the same increase experienced in September, while the energy index jumped 4.8%.

Additionally, the Producer Price Index, which measures inflation at the wholesale level, rose 8.6% year-over-year as of October, the Bureau of Labor Statistics announced Tuesday.

The Federal Reserve announced on Nov. 3 that it would begin scaling back its monthly bond purchases by $15 billion starting in November to combat growing inflation. The Fed did not say it would raise interest rates from around the current near-zero level.

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The REAL truth is....both of the forum idiots are OWNED.
-BOTH of them have no clue who their owner is.
-They are both card carrying narcissists.
^These are PROVED facts.

Edited: 11/10/2021 at 02:38 PM by Fish Killer
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