New Numbers Show Inflation is Rising at a Rapid Rate.....

[MMC]

New economic numbers released Thursday show U.S. core inflation is rising at a rate not seen since 1992. Consumer prices in May 2021 were up 5 percent over May 2020.


US core inflation in May was 3.8% (vs expectations of 3.4%) - highest since 1992...



BREAKING! US Headline #Inflation rose to 5.0% in May, beating expectations. Core #CPI up to a whopping 3.8%, highest since 1992!


Meanwhile, Democrats continue their push for more spending.


Prices leap 5% here, as the #BidenInflationSpike punishes working class America......snip~


New Numbers Show Inflation is Rising at a Rapid Rate by Katie Pavlich (townhall.com)


All those po people that the Demos say they care about, will be suffering.

[MMC]

Food prices climb as trucking companies look for drivers


The shortage began before the COVID-19 pandemic and is getting worse.


The cost of a steak to put on the grill continues to escalate and it is largely due to a shortage of truck drivers..



The shortage began before the COVID-19 pandemic and is getting worse. The American Trucking Association says there was a shortage of 61,000 drivers at the end of 2019.


The Illinois Trucking Association recently conducted a survey of companies around the state and 97% said they were short of truck drivers.


Matt Hart, executive director of the ITA, said the main problem appears to be enhanced unemployment benefits.


“In many cases, they were set up to where people could actually make more money by staying home than going to work, and we are seeing it in the trucking industry, the restaurant industry, the manufacturing industry, so that is the number one issue that I hear when I talk to trucking companies across the state,” Hart said.



Twenty-five states have eliminated the extra federal benefits in an effort to drive more people back into the workforce. Gov. J.B. Pritzker has said Illinois will not be joining the movement.



Other contributing factors mentioned by industry officials include an aging workforce, retirements because of the pandemic, and a federally mandated drug and alcohol clearinghouse program.


Hart said the shortage is having an effect on not only the things that we are buying but the things we throw away. He notes Chicago’s garbage facilities are being overrun because there are not enough drivers to haul the trash out of the city.


The lack of drivers is also causing intermittent gas shortages. There is plenty of fuel available, but the problem is getting it to the pumps. Recently, two Casey’s General Stores ran out of fuel in Decatur and Warrensburg.


The average pay for a truck driver is around $51,000, but some companies are offering more compensation in an effort to lure drivers.



Paper Transport is increasing driver pay in regional positions between 8% and 25% across its Midwestern operation area, which includes Illinois.


“The pay is very, very good,” Hart said. “I don’t know of a single trucking company that has not been increasing its pay just to try to keep up with the demand that is out there right now.”.....snip~


Food prices climb as trucking companies look for drivers | Just The News

[stjames1_53]

No $#@!!! Gas jumped 10 cents in two days after creeping up 10 cents over a ten day period.
A gallon of milk, here, 1.99 up 37 cents to 2.36.
Bread is up too.
We got a food dryer. Another way to put up food.
Joe* has destroyed us.

[MMC]

No $#@!!! Gas jumped 10 cents in two days after creeping up 10 cents over a ten day period.
A gallon of milk, here, 1.99 up 37 cents to 2.36.
Bread is up too.
We got a food dryer. Another way to put up food.
Joe* has destroyed us.

Yep NW Indiana wont be seeing gas prices under 3.00 dollars now. Illinois wont go under 3.19 for the majority. Joe thinks he can use inflation as a strategy.

[DGUtley]

At least there's no more mean tweets.....

[RichardMZhlubb]

You guys do understand that the primary driver here is the rapid expansion in demand following a year of economic stagnation, and that we’d be seeing something very similar if Trump had been reelected, right?

[MMC]

Wallet wallop: Inflation rises to highest level since Great Recession

Bill Dudley, the former president of the Federal Reserve Bank of New York,cautioned this week that the central bank’s approach to managing inflation risks recession. He warned that if overheating becomes too much, the Fed might have to pump the brakes and raise interest rates, which could cause increased volatility in short-term rates and an increased likelihood of an “economic hard landing.”


Treasury Secretary Janet Yellen said this weekend that the country could see inflation up to 3% through the rest of the year. Yellen also said that it would be a plus for society’s point of view and the Fed’s point of view if the country ends up with a slightly higher interest rate environment, although she laterwalked back those remarks and said that she doesn’t “see any evidence that inflation expectations are getting out of control.”


The May jobs report fell somewhat short of expectations, reigniting concerns about a labor shortage. The economy added 559,000 new jobs, as opposed to predictions of 650,000. The report from the month before was even more disappointing......snip~



Inflation rose to 5% in May, increasing fears of overheating | Washington Examiner


Disappointing Democrats.....nothing new there, huh?

[MisterVeritis]

Beijing Biden and his regime are waging war against real Americans.

[RMNIXON]

You guys do understand that the primary driver here is the rapid expansion in demand following a year of economic stagnation, and that we’d be seeing something very similar if Trump had been reelected, right?

NO, and you obviously have a poor grasp of fundamental economics!

[RichardMZhlubb]

Beijing Biden and his regime are waging war against real Americans.

You realize that the only way inflation would have been lower in a second Trump term is if the economy had grown more slowly, right? Is that what you would have wanted?