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Biden Economy Sees Goods Prices Increase 6.5% Since Last Year – The Highest Increase since 1982

Here comes inflation.

Zerohedge reported this morning:

With the world’s eyes having moved on from China’s rip-roaring PPI (and post-data decision to unleash price controls), this morning’s CPI print has been heralded as the arbiter of “is it transitory or not” with some (BofA) even suggesting we are nearing a period of “transitory hyperinflation.” The answer for now is – inflation’s still accelerating as headline CPI soared 5.0% YoY (hotter than the +4.7% expected). That is the highest level of inflatuion since Aug 2008.

The Bureau of Labor Statistics (BLS)shows energy as a major driver of the increase in costs:

As Zerohedge reports, Bloomberg shows goods prices are up 6.5% year-over-year – the highest since 1982

This all comes as no surprise to most of us. We are seeing how our dollar is losing its value.



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