Bleak news: Consumer prices rise 5.3% annually in August

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The Labor Department announced on Tuesday that the consumer price index rose 5.3% year over year last month.

Prices rose 5.4% in July. Forbes spun the slight decrease as a sign that inflation might be cooling off. Even if it is, which is doubtful, the trillions of dollars that Democrats plan to spend will destroy that.

Prices rose .3% month over month.

There still is a supply and labor shortage. When that eases off, we might see improvement, but when will it?

At the same time, 66% of small business say the labor shortage is getting worse by 7%, so how does the supply improve?

In July, only 50% of all small business owners said they’re having trouble finding the right help. That figure jumped to 59% last month, and now has gone up another 7% to 66%.

And the sectors that suffered the most earlier this summer are also in worse shape when it comes to hiring now. Here’s a summary of our industry findings from Alignable’s September Hiring Poll.

CNBC actually reported that if you take out food and energy, it’s only 1%. Of course, without food and energy, we can’t live.

 


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