So much for the stall in gas prices last month, eh? Even with the price of gasoline dropping 4.9% in the month of September, overall consumer prices rose by 0.4% in the month, the highest increase sin.
So much for the stall in gas prices last month, eh? Even with the price of gasoline dropping 4.9% in the month of September, overall consumer prices rose by 0.4% in the month, the highest increase since June. The new Consumer Price Index year-on-year result shows inflation still roaring at 8.2%, and rising gas prices this month promise even more roaring into the fall:
So-called “core CPI” rose again as well, and even faster. Shelter costs drove this area of inflation hardest:
Core CPI ignores the way that most consumers experience inflation, however — at the grocery store. Food inflation continues to outpace other areas, and just as in yesterday’s PPI report, look astounding:
This is not an “inch” of inflation, as Joe Biden claimed last month.
