US inflation at highest level for 40 years

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Brictoria
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11 Feb 2022, 8:18 am

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Inflation accelerated faster than expected in the United States last month to its strongest pace in four decades, rattling stock markets yesterday and lifting bond yields to pre-pandemic highs.

Investors are braced for the US Federal Reserve to use aggressive measures to combat rampant price growth and speculation is rising that the central bank could order its first 50 basis-point interest rate rise in more than two decades.

America’s consumer prices index rose by 7.5 per cent on an annual basis in January, up from 7 per cent in December. It was the highest reading since February 1982 and exceeded a consensus forecast of 7.3 per cent.

Source: https://www.thetimes.co.uk/article/us-inflation-at-highest-for-40-years-2jsh7ngjc

kraftiekortie
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11 Feb 2022, 8:41 am

Indeed....it's been that way for a few months now.

Matrix Glitch
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11 Feb 2022, 9:01 am

There's a place nearby where I order a sandwich once in a while. They used to be about $5.50 not that long ago. Today for the first time a few months I ordered one and got charged over $13. Seems like pretty soon I'm going to be down to ramen noodles.

Aspiegaming
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11 Feb 2022, 10:45 am

Stage 4 cancer...er, I mean Capitalism.

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FleaOfTheChill
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11 Feb 2022, 2:19 pm

Matrix Glitch wrote:

Really though...

Even buying groceries and cooking at home on the cheap is brutal now. I went to the store the other day and spent $100 on five bags of groceries. It barely got me food for the week. Lucky for me I still have tons of food prep stuff in my freezer...but damn.

Everything is like that though. My gas/electric is more this year than last even though I'm using a lot less. Same with the water bill. Everything is going through the roof right now. It's wild.

r00tb33r
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11 Feb 2022, 2:33 pm

*grins, twirling a large needle in hand*

funeralxempire
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11 Feb 2022, 2:56 pm

r00tb33r wrote:

*grins, twirling a large needle in hand*

Voodoo economics doll? :lol:

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11 Feb 2022, 3:16 pm

This has crippled my normal living stuff…. Have used up reserves to get by . And am dealing with several health issues too . Am trying to stay in the house but house is having big issues too . Am considering what this might mean,if am needing to go homeless . Am caught in this financial and health dibocle . Wish , there was some kind of hope on the horizon to hold on too. But not seeing one. That’s the thing that kept me going. Support , is nowhere to be seen.
But am sure many people are having their own issues . Maybe these issues will resolve when the mandates are lifted
I certainly hope so, but I do not think shop owners willl drop their prices even if inflation drops , am afraid the greed factor maybe too strong.Makes me sad .

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r00tb33r
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11 Feb 2022, 4:49 pm

funeralxempire wrote:

r00tb33r wrote:

*grins, twirling a large needle in hand*

Voodoo economics doll? :lol:

No, but a single prick can provide a lot of relief :lol:

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11 Feb 2022, 5:17 pm

It's been bad and extremely noticeable, I'm one of those people who makes periodic Costco runs to pick up certain items in bulk, so I have a pretty good gauge of how prices have been moving just by comparing my receipts over the last year or so.

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Matrix Glitch
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11 Feb 2022, 7:11 pm

Who's old enough to remember these?

ASPartOfMe
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11 Feb 2022, 8:28 pm

Matrix Glitch wrote:

Who's old enough to remember these?

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DW_a_mom
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12 Feb 2022, 2:12 am

I think some aggressive action by the federal reserve may be in order. I'm mostly frustrated with myself for not refinancing the house and cashing out while it might still have made sense.

Amazing how fast everything flipped from recession and unemployment worries to inflation and under-staffing worries.

I'm not at a life stage to increase my income, so I'm going to have to learn to spend less. The inflation has, as Dox noted, been VERY noticeable. I'm not sure yet what government decisions hindsight will teach us were a bad idea, but we're likely in for a very bumpy ride. It was inevitable once the pandemic started, but the path has more twists and turns that we imagined.

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