“Inflation: Consumer prices rise 8.3% over last year in August, tanking stocks and clinching rate hikes”
September 13, 2022
“…The Consumer Price Index (CPI) in August reflected an 8.3% increase over last year and a 0.1% increase over the prior month, the Bureau of Labor Statistics reported Tuesday. Economists had expected prices to rise 8.1% over last year and fall 0.1% over last month, according to estimates from Bloomberg.
On a “core” basis, which strips out the volatile food and energy components of the report, prices rose 6.3% over last year and 0.6% over the prior month in August. Expectations were for a 6.1% annual increase and 0.3% monthly increase in core CPI…”
https://finance.yahoo.com/news/august-inflation-data-cpi-september-13-211038620.html
Unexpected?! This is a lie or they are not very intelligent to say it quite nicely. How long have I been saying there’s a supply chain breakdown made worse by lock-downs and a labor shortage on top of that? There’s still more pain to come. Brace yourselves.