U.S. inflation accelerated to a new four-decade high in March as rapid price gains wiped out the benefits of rising wages for most Americans.
Megan Henney for FOX Business:
The Labor Department said Tuesday that the consumer price index – which measures a bevy of goods including gasoline, health care, groceries and rents – rose 8.5% in March from a year ago, the fastest pace since December 1981, when inflation hit 8.9%.
So-called core prices, which exclude more volatile measurements of food and energy, climbed 6.5% in March from the previous year – up from the 6.4% increase recorded in February. It was the steepest 12-month increase since August 1982.
Price increases were widespread: Energy prices rose a stunning 11% in March from the previous month, and are up 32% from last year. Gasoline, on average, costs 48% more than it did last year after rising 18.3% in March… Food prices have also climbed 8.8% higher over the year and 1% over the month, with the largest increases in cereal and bakery products (10%), poultry, fish and meat (13.8%), fresh fruits and vegetables (8.1%), and eggs (11.2%).
Rising inflation is eating away at strong wage gains that American workers have seen in recent months: Real average hourly earnings decreased 0.8% in March from the previous month, as the 1.2% inflation increase eroded the 0.4% total wage gain, according to the Labor Department. On an annual basis, real earnings fell 2.7% in March.
MacDailyNews Take:
‘Tis best to get a handle on inflation, if you know how, while you still can. – MacDailyNews, May 11, 2021
Earlier this year, Interactive Brokers founder Thomas Peterffy said, “Inflation is 7% — 1% or 2% [in interest rate hikes] doesn’t mean anything. If they really wanted to stop inflation, they would have to raise rates to 4%, 5%, 6%.”
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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Stolen elections have consequences.
Hmm… Hillary says 2016 was stolen. Dems say 2020 were the most secure elections ev-uh! Will Dems say the November elections were stolen or secure? Haha!
Such as:
Can’t wait for the GOP Tsunami to wash this current cesspool clean this November!
Now we know that Russia has its own Trump: Putin, is also a dangerous megalomaniac. Fortunetly the US has dropped theirs!
How exactly is Trump a dangerous megalomaniac? Any comparisons to Trump’s four years and Joe’s 1 1/2 years? Afghanistan, Ukraine, sky high crime in the US…
No Sky high crime, treason in the Oval Office. Preservation of the Republic, Upholding the Constitutional duties of the Office and not hiding behind it.
Up yours!
That’s odd.
Mueller proved democrats lied about Russia.
Horowitz proved democrats lied about Russia.
Durham proved democrats lied about Russia.
The impeachment?
All SEVENTEEN handpicked democrat witnesses said “I know of nothing impeachable” before democrats impeached.
Sorry if the world sees you a buffoon, but hey.
That’s a choice you made for yourself.
It’s amazing some people can be so stupid.
https://twitter.com/ur1TruthDetect/status/1514223439107743751
STOP WITH THE BULL!!! Be glad that America is still free – it would not have been if key Republicans did not stand up for country over party
@First: All elections have consequences whether you like the winner or if your a sore loser.
The consequences of your guy being a loser is that we all have to listen to you bitchin nonsense for 4 years. Do you actually use a Mac computer or were you assigned this site to astroturf by your PAC leader?
I get it. It must be sad to want to win so badly that you have to cheat to “win.”
But, then, you can’t really celebrate your “win” because everyone knows there’s no way that guy got the most votes in history, but magically did it with the fewest counties, by far, lost 18 of 19 bellwether states, etc.
Plus, of course, the you can’t really celebrate when everything the retard touches turns to shit – from Afghanistan to border control to handling COVID to crime to defense to inflation to energy, etc. etc. etc.
I’ll be the one celebrating actual wins, FIRST with the 2022 midterms and THEN in the 2024 U.S. Presidential election.
Enjoy your coming and well-deserved decades in the wilderness.
Maybe it’ll give you enough time to figure out that there are simply two genders and the rest is mentally ill bullshit.
Let me guess… Trump beat Obama? 😂😂😂
Nope. Rather, it is great to win and see the orange dirtbag cry like a screaming baby regardless what may come!
I would say don’t be an idiot, but clearly that ship has sailed.
Trump presided over the largest deficit spending and his Treasury printed more money than at any other time in the history of our country. Now that the economy is opening up post-COVID, the effect of Trump’s 4 years of incompetent leadership is setting in.
Just yesterday I watched a Trump interview from a few days ago in which he openly admitted that he lost the election. Those exact words came out of the man’s mouth.
Trump is a con man and you are just one of his many, many marks.
JOEY voted to deny Blacks their Civil Rights.
JOEY said President Obama was the FIRST Mainstream African American who was “articulate, bright and CLEAN”.
JOEY, the man the democrat Party itself rejected TWICE- Twice, as a liar, plagiarist and racist is what you simp for.
Yawn.
They even checked his ID!
https://www.cnn.com/2022/04/13/politics/mark-meadows-removed-voter-rolls-north-carolina/index.html
Hope the criminals who rigged the 2020 U.S. Presidential election are getting killed by inflation!
https://twitter.com/ur1TruthDetect/status/1506632012098121730
Ring…. Ring…. Ring…. Ring….Ring
We all know that there was ZERO inflation prior to Putin’s Ukraine invasion. Biden’s administration is doing a FANTASTIC job keeping things from really spiraling out of control. it is all Putin’s fault (and Xi’s Covid). Can’t wait to vote for Dems right down the ticket in November… and again in 2024!
The fucking U.S. deserves all the pain it’s getting and going to get for failing to hold clean elections.
The real U.S.President is not currently in office.
The far right extremists live in a fantasy world. The election was not stolen from Trump. He had something like 60 chances to prove this in front of a judge and failed again and again. Not only were his cases thrown out of court some of his lawyers were disbarred for bring such bogus cases to the court. This big lie is pure propaganda.
Your “60 cases” were never judged on their merits, but dispatched over safe harbor deadlines or for other procedural reasons. Very convenient.
https://democracyinstitute.org/patrick-bashams-sunday-express-article-assesses-us-election-pollingtemp/
Don’t worry. The “deplorable index” is below 35%. Indictments are looming, and some of these voter obstruction laws are being struck down.
I hope future history books cover what the Republican Party tried to do to the Republic.
Wrong site for your delusional ranting. Donny couldn’t prove anything in court. Sad that the stupid class continues to listen to the liar, and troll for him on tech blogs. Desperate much?
why does this site allow this deranged trump crap? isn’t this supposed to be about apple?
Inflation in the US, Apple’s largest market, is news about Apple. A few people out there are not satisfied with the current administration. Why does this site allow this deranged Brandon crap? Don’t like Trump? Try Twatter. No Trump over there.
Well said. Twat-laden Twitter is a Trump-free-zone, sadly. Trump derangement syndrome is real with the whacky left here at MDN, such a bunch of lunatic disgraceful eeeeeeejits.
Misogyny much? Unfortunately, that is all the fascist right has left! SAD!
When did MacDailyNews get taken over by wackadoodle Trumpublicans? These folks are so incredibly thick that they are totally blind to the Trump con job. It’s like listening to cult members spew pure crazy about their ‘savior’. So bizarre.
Jeeezus H Keriiiiist, you’re a mooooooorrrrrron, PJS, just wait until you see what Demetia-ByeBiden does to the prices of EVERYTHING. You think $1000 or $2000 iPhones are bad? Wait until they hit $3000 or $4000, all thanks to your FRIGGGGGGIN MORRRRRROOOONNNNN Joe D!!!!!ckwad Biden. This tra8tor should be taken out the back and impeached with extreme prejudice, and the same should happen to Commielalalala Harris, whose biggest achievement is leg spreading getting you to the top. So sad that brayndeadheads like PJS are stuck in their pyjamas and have no idea how the real world works. You are a DISGRACE!
If this constant MDN troll is evidence of current GOP maturity, then it’s no surprise why they keep losing the popular vote. The only time the bitter selfish asshole Party wins is when they gerrymander and disenfranchise.
This site could have been good if it stuck to Macs and cut out these political trolls. Or are these trolls on the payroll MDN?