Why is inflation so high?

[ll74]

abolish the Federal Reserve, an unaccountable bureaucratic political organization mostly selected and run by Democrats

The Fed chair is nominated by the President and voted on by the Senate.

 

[JohnEngelman]

Overall, real wages in the United States have now fallen for 15 months in a row.

Real wages have usually fallen since the inauguration of Ronald Reagan in 1981, while profits have soared.

 

[BabyBoomer50s]

It’s worth noting that while prices of fuel, food, semiconductors, building materials, labor and other things are skyrocketing, one important product category many people rely on is not. Prescription drugs. Prices rose a measly 0.1% last month and are up a only 2.5% over the past year. Non-prescription drug prices on the other hand grew 1.2% in June and 4.7% in the last year. Other medical care prices also rose far more. Health insurance climbed 2.1% last month and is up 17.3% over the last year.

Fear not. Congress wants to “fix” rising prices in the area that needs fixing the least.

 

[ll74]

Fuel prices continue to drop.

 

[BabyBoomer50s]

Gas prices have been dropping since mid-June. Thanks, Biden!

True, demand is falling due to a broader deterioration of economic conditions. As a result, gas prices have been falling a bit over the last 30 days. Thanks Biden! And they are still about a buck higher than this time last year. Fear not. Biden is asking Saudi Arabia to increase oil production and is mulling butane as an additive.

 

[dmonty]

Fuel prices continue to drop.

simple economics, supply & demand... with inflation killing most household budgets, pleasure travel, and eating out have all dropped drastically - thusly lower demand, prices drop. Far to late to of benefit for summer travel plans.

 

[Rightguide]

Remember when Biden said this inflation was "transitory?" It's now almost 8 times higher than it was when he took office and still going up.

 

[DeluxAuto]

Remember when Biden said this inflation was "transitory?" It's now almost 8 times higher than it was when he took office and still going up.

Remember before 1 million Americans died of COVID and Trump lied and said it would be gone by Spring of 2019 when the weather warmed up?

Watching republicans become self aware is like watching a terrible sci-fi movie where the robots become sentient.

 

[Kindfarmer]

Greedflation. Record profits and record prices. Wages not keeping up with inflation but C suite and upper levels are on the rise.

This is by design.

Eat the rich. They are lucky people are more "tame" now. 100 years ago - or even 70 - it would have been pitchforks, shotguns and torches.

Antitrust violations are not inflation. Thank you for pointing that out.