U.S. Inflation Hit 30-Year High in October as Consumer Prices Jump 6.2%

[beijingwalker]

U.S. Inflation Hit 30-Year High in October as Consumer Prices Jump 6.2%
By Gwynn Guilford
Updated Nov. 10, 2021 1:28 pm ET

U.S. inflation hit a three-decade high in October, delivering widespread and sizable price increases to households for everything from groceries to cars due to persistent supply shortages and strong consumer demand.

The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—increased in October by 6.2% from a year ago. That was the fastest 12-month pace since 1990 and the fifth straight month of inflation above 5%.

U.S. Inflation Hit 31-Year High in October as Consumer Prices Jump 6.2%

The consumer-price index rose at a three-decade high of 6.2% last month, delivering widespread price increases for everything from groceries to cars due to supply shortages and strong consumer demand.

www.wsj.com

 

[beijingwalker]

Keep printing money non stop, we'll see how far US can go this way

 

[mmr]

time to stop printing dollar.

 

[beijingwalker]

time to stop printing dollar.

They can't, this is the only way to keep the country afloat.

 

[beijingwalker]

New York city in this holiday season, prices are soaring, shop shelves are empty..

 

[Beast]

 

[Communism]

Most commodities are still in backwardation, which might translate later into inflation that is lower in 2022 than 2021.

If we continue to get wage spikes across the board though, the inflation might trend higher.

The pandemic helicopter money has largely ended, but some of it got replaced by child subsidies, so it'll take a bit to see how much those child subsidies keep inflation elevated.

We are already starting to see a buyer's strike on things like housing in big cities.

 

[mmr]

They can't, this is the only way to keep the country afloat.

They can raise taxes on rich and on corporations.

Printing money is hurting poorest ppl the most...the ones dont have any assets.

Rich getting richer. Asset values all time high.

 

[Communism]

They can raise taxes on rich and on corporations.

Printing money is hurting poorest ppl the most...the ones dont have any assets.

Rich getting richer. Asset values all time high.

Printing money does nothing to the poor one way or another.

The reason for the large inflation in consumer prices are due to helicopter money and supply chain problems.

The helicopter money mostly ended in september.

We are also seeing the massive wage spikes in menial labor due to the cumulative effects of a decade of progressively harsher crackdowns in immigration.

Obama cracked down in immigration, Trump cracked down significantly harder on immigration, Biden cracked down even harder on immigration.

 

[Indos]

time to stop printing dollar.

The Fed have already started tapering policy in November, it means they are now reducing to print the Dollar. Less USD to circulate in the future then what has previously expected under quantitative easing policy, this is why we see weak currencies all over the world starting to depreciate against the Greenback.

This could be damaging the effected currencies since energy price is high and also commodities price, despite the world is not yet reaching its 2019 GDP. More inflation to spread to whole world while weaker currencies will get the most inflation. To prevent further depreciation, their Central Bank will likely to increase interest rate as way to combat inflation.