ShyBiGuy954
Literotica Guru
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- Apr 10, 2013
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These companies are jacking up prices because of exploding inflation
https://www.msn.com/en-us/money/com...of-exploding-inflation/ar-BB1fWwID?li=BBnbfcL
On Wednesday, the Labor Department reported the Consumer Price Index (CPI) spiked 4.2% in April, the quickest jump in more than 12 years. Excluding volatile food and energy prices, the core CPI rose 3% year-over-year. It gained 0.9% alone for April.
The inflationary pressure in April — which many Federal Reserve officials see as transitory effects from the pandemic recovery — reflected a 25% increase in energy prices from last year. Used car prices skyrocketed 21% from a year ago.
While investors were surprised by the report and sent stocks lower across the board, the data shouldn't have been a shocker.
Oil prices are up nearly 250% from a late January 2020 bottom. Copper prices have surged 85% during that same timespan. The average price of gas in the U.S. since late April 2020 has gone from about $1.74 to more than $3.00. Not helping matters for companies are the new costs in businesses to keep workers safe from the ongoing pandemic. Meanwhile, companies from Chipotle to Sheetz are lifting hourly wages to attract much-needed new employees and retain existing ones.
Corporate America is now asking consumers to foot the bill in an effort to protect their bottom lines from inflation and COVID-19 pandemic costs, and their stock prices. ......
https://www.msn.com/en-us/money/com...of-exploding-inflation/ar-BB1fWwID?li=BBnbfcL
On Wednesday, the Labor Department reported the Consumer Price Index (CPI) spiked 4.2% in April, the quickest jump in more than 12 years. Excluding volatile food and energy prices, the core CPI rose 3% year-over-year. It gained 0.9% alone for April.
The inflationary pressure in April — which many Federal Reserve officials see as transitory effects from the pandemic recovery — reflected a 25% increase in energy prices from last year. Used car prices skyrocketed 21% from a year ago.
While investors were surprised by the report and sent stocks lower across the board, the data shouldn't have been a shocker.
Oil prices are up nearly 250% from a late January 2020 bottom. Copper prices have surged 85% during that same timespan. The average price of gas in the U.S. since late April 2020 has gone from about $1.74 to more than $3.00. Not helping matters for companies are the new costs in businesses to keep workers safe from the ongoing pandemic. Meanwhile, companies from Chipotle to Sheetz are lifting hourly wages to attract much-needed new employees and retain existing ones.
Corporate America is now asking consumers to foot the bill in an effort to protect their bottom lines from inflation and COVID-19 pandemic costs, and their stock prices. ......
