U.S. consumer inflation without energy and food hit a new four-decade high in September as prices continued to surge. Persistent high costs will continue and are endemic.
The Labor Department on Thursday said that the so-called core measure of the consumer price index—which excludes volatile energy and food prices—gained 6.6% in September from a year earlier, up from 6.3% in August. That marked the biggest increase since August 1982.
On a monthly basis, the core CPI rose 0.6% in September, the same as in August, and up from 0.3% in July. Investors and policy makers follow core inflation closely as a reflection of broad, underlying inflation and as a predictor of future inflation.
The overall CPI increased 8.2% in September from the same month a year ago, down from 8.3% in August. That was also lower than annual increases of 8.5% in July and 9.1% in June, which was the highest inflation rate in four decades. The CPI measures what consumers pay for goods and services.
Stocks dipped on the news.
Bannon showed the leftist media telling stories about the inflation and claiming it will magically go away over time, with no blame. A year ago the story was it will not occur.
How’s that Inflation Reduction Act working out for us!!!! buckle up folks its gonna get worse!!!!!
If you think inflation is going to stop anytime soon you’re going to be sadly disappointed. Even a Red Tsunami will only slow it down.