Inflation at the wholesale level jumped 8.6% in October from a year earlier, matching September’s record YOY gain and offering more evidence that U.S. inflationary pressures are not increasing, not easing. This is the highest U.S. producer price inflation increase ever recorded in a country that has seen a number of financial crises.
The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.6% last month from September, pushed higher by surging gasoline prices.
More than 60% of the September-October increase in overall producer prices was caused by a 1.2% increase in the price of wholesale goods as opposed to services. A 6.7% jump in wholesale gasoline prices helped drive goods prices up.
Mostly dormant for decades, inflation has returned to the United States this year.
On Wednesday, the Labor Department will release its consumer price index for last month. According to a survey of economists by FactSet, it is expected to show that consumer prices rose 0.5% from September and 5.8% from a year earlier — beating September’s 5.4% year-over-year gain, the fastest since 2008.
MacDailyNews Take: Obviously, a healthy U.S. economy, consumer confidence, and consumer spending are essential to Apple, as America is Apple’s largest market, by far.
‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
Inflation is repudiation. — Calvin Coolidge
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident. — Ronald Reagan
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[Thanks to MacDailyNews Readers too numerous to mention individually for the heads up.]
Last time, fools like this set the stage for The Reagan Revolution.
Can’t wait for 2022 and 2024!
“We the people tell the government what to do.” — Ronald Reagan
“Man is not free unless government is limited… As government expands, Liberty contracts. ” — Ronald Reagan
Jimmy quietly gives thanks to Biden for assuming the mantle of the worst president EVER, making Carter look good… HA!
Inflation? What inflation? Trump’s fault? Covid’s fault? Trump AND covid’s fault?
Maybe if the Brandon Administration spends another hundred billion million trillion inflation will go down.
Maybe, just maybe.
History repeats itself.
In this present crisis, government is not the solution to our problem, government is the problem. – Ronald Reagan
And one addled Dem/Lib/Prog sits in his parents’ basement clicking one star votes over and over on MacDailyNews comments that dare to tell the truth – which is about as productive and helpful as the Brandon administration.
A contrast so stark that even the average American voter can see it:
How President Trump created a tremendous U.S. economic boom – September 7, 2018
U.S. consumer confidence surges to 18-year high – October 30, 2018
U.S. unemployment hits five-decade low as employers step up hiring, wages increase – May 3, 2019
It’s even worse than that for Democrats and the “Biden” admin:
Biden’s numbers are lower than anyone else at this point in their term except for President Donald Trump who was under constant attack from the liberal corporate media while Biden has been largely coddled and protected (as much as possible) by the corrupt leftist media.
Imagine how badly Biden would be doing with the 38% who “approve” — comprised of America’s retarded / brain damaged population, one must assume — if the corporate media weren’t a biased, corrupt sack of shit.
Again, the fake one-star down votes are a badge of honor. You are unable to offer a defense, so you hide behind your one-star votes. This only affirms our position… the very position you yourself are embarrassed about and unable to explain or defend.
How many of those one star voters are also the same Karens whining about bring politics into MDN’s all about Apple website? You know, your one star vote is just as much bringing politics into MDN then any post stating factual political observations, if not more so.
Let the one star votes begin!
Not to worry. The brilliant Grandpa Dementia is on it.
After he finishes his ice cream cone, of course
USA TODAY asked 1,000 registered voters to “name the single thing that was most important for Biden to do in the next year.”
“Resign/retire/quit” was the top response.
Of course, then we’d be stuck with Heels Up Harris, whose disapproval rating is even worse than the corrupt dementia patient’s!
Let’s Go Brandon.
Pfuqq leftist loozers. Send Biden to the retirement home now, and deport Kamala Vomris back to Jamaica.