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The Labor Department reported Wednesday the consumer price index rose 6.2% in October, from a year ago.

The number is the largest 12-month increase since the period ending November 1990, according to the agency's Bureau of Labor Statistics.

Economists projected the increase would be 5.9%, citing pandemic-related supply shortages.

On a monthly basis, the CPI increased 0.9%, compared to economists' estimates of 0.6%.

The federal government also said the monthly increase was broad-based, with rises in the indexes for energy, shelter, food, used cars and trucks and new vehicles among the larger contributors.

My guess is that sleepy Joe/Brandon is just getting started!

Remember what Slick Willie discovered, "it's the economy, stupid!"

And that’s a BS amount, compared to what wholesale prices have done/what’s coming.

No! NO! No! It's transitory!

Yes, to even the most casual observer, it is not clear that inflation is here to stay.

With the Joe at the helm, I expect several years of high inflation and high taxes.

You need to adjust your financial position so that you benefit from inflation. However, it is really hard to avoid the taxes.

Sucks for those of us who have saved our money. Good for people who are way in debt, including governments in debt --- they pay back in cheaper $$$.

Sucks for most of us.

Great way to depress the economy, if that's their goal. I know it'll certainly slow our spending.

quote:

Originally posted by Russ59:
No! NO! No! It's transitory!

I don't think that word means what they think it means.

High CPI is good for unions. The Cost Of Living Adjustments are almost always based on Consumer Price Index. The high CPI translates to larger COLAs. That results in unions taking in more money as dues is usually percentage of pay. So some are making out with a higher CPI.

My wife grabbed a turkey the other day. It was nearly $50. A few years ago they gave the damn things away with a $25 purchase.

She put it back in the freezer.