Bidenflation Roaring

[Rightguide]

Bidenflation still roaring: Producer price index skyrockets 10.8% in May; Update: We're "in a good historic economic place"?​

ED MORRISSEY Jun 14, 2022 10:01 AM ET

Remember when inflation supposedly peaked this spring? The Bureau of Labor Statistics blew up that fantasy again with its producer-price index (PPI) report this morning. While the year-on-year figure slightly declined from April’s 11% to 10.8% in May, the month-on-month increase in the price of goods jumped to 1.4%:

n case anyone still wants to make a “peak” argument, consider a couple of points first. First, the month-on-month figure actually increased from last month, and not by an insignificant amount, a point to which we’ll return later. Next, take a look at this chart to see where we’re still heading in the year-on-year measures, especially on goods:

That progression gives no indication of peaking.

Bear in mind, too, that we are now making comparisons to months that had already begun to show significant inflation in 2021, making these figures even worse when compounding effects are taken into account. And in some cases, the inflation makes clear that investment activities are going to get curtailed very soon unless inflation gets back under control.

More here:

https://hotair.com/ed-morrissey/202...er-price-index-skyrockets-10-8-in-may-n476042

Joe's plan to harm his fellow Americans gains steam.

 

[phrodeau]

I’ve heard of deflation, but what is bideflation?

 

[ll74]

Yep. And only a small portion of it is even due to any policy.

 

[ll74]

Did you get your crying rag or is it still on its way?

 

[Rightguide]

Meanwhile, Joe talks about Americans having more savings than ever under his administration as 10 trillion dollars in personal assets are being stripped out of the stock market as we speak.

 

[ll74]

Savings exist out of the stock market as well. Mine is doing well with the rate increases