Inflation rate came in up .5% month over month.
We were assured by Janet "worst Treasury Sec in history" Yellen and our own economics guru @FtWorthHorn07 that inflation was "collapsing".
Not the case and the numbers are worse when you break out the sectors:
Food inflation is up 10.1% year over year
Gas is trending back up
Energy up 8.7%
Shelter up 7.9% from a year ago.
Inflation turned higher to start 2023, as rising shelter, gas and fuel prices took their toll on consumers, the Labor Department reported Tuesday.
Why is this bad? Well one, it means your $$$$$ does not buy as much as it did, hurting low and middle income workers the hardest.
Even worse, the FED has steadily increased rates to reach their target of 2% inflation so they likely add more interest.
More interest seriously hurts the housing market which is 20% of our economy and already slowing to a crawl.
If only there was something we could do to dramatically impact inflation on a market level (vs govt). Oh wait, we could start ramping up production of O&G, driving down the cost of gas, transportation and food.
www.cnbc.com
We were assured by Janet "worst Treasury Sec in history" Yellen and our own economics guru @FtWorthHorn07 that inflation was "collapsing".
Not the case and the numbers are worse when you break out the sectors:
Food inflation is up 10.1% year over year
Gas is trending back up
Energy up 8.7%
Shelter up 7.9% from a year ago.
Inflation turned higher to start 2023, as rising shelter, gas and fuel prices took their toll on consumers, the Labor Department reported Tuesday.
Why is this bad? Well one, it means your $$$$$ does not buy as much as it did, hurting low and middle income workers the hardest.
Even worse, the FED has steadily increased rates to reach their target of 2% inflation so they likely add more interest.
More interest seriously hurts the housing market which is 20% of our economy and already slowing to a crawl.
If only there was something we could do to dramatically impact inflation on a market level (vs govt). Oh wait, we could start ramping up production of O&G, driving down the cost of gas, transportation and food.
Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago
The consumer price index was expected to increase 0.4% in January from a month ago and 6.2% on an annual basis, according to Dow Jones.
