This is around what the "REAL" inflation rate is at now, not the made up 9.1% bullshit.
The costs for businesses to buy their supplies/goods keeps going up also, so this is not going to be slowing down anytime soon. Believe it was over 1% last report which means prices will be going higher for the consumer.
This is going to be a total shit show come the fall, literally people will not be buying anything that they do not need. Companies will be laying off and the unemployment rate is going to sky rocket.
Add in the real estate market is about to collapse, meaning business related to housing will be laying off
at minimum.
You will be seeing a lot of businesses going of out business within the next year or so.
Unemployment will be rising quickly as companies fight to stay alive by cutting their easiest cost, labor.
Things are going to be getting very, very ugly by the end of the year.
yes of course and I've posted several times the site that shows how they USED TO calculate the inflation rate which is the only reason we're talking about worst inflation in 40 years. They don't calculate it the same as they did 40 years ago ... it's a government sleight of hand trick
the real # is 17.3%, a 75-year high
•
I N F L A T I O N - FLASH (July 14): The original Finished Goods - Producer Price Index Series, which goes back to 1948, hit its second highest annual inflation level in history, at 18.6% in June 2022, the strongest showing since the historical record-high 19.6% of November 1974, while the current Final-Demand Goods PPI-FD series (created in 2009) hit another all-time (13-year) high of 17.4% in June 2022, up from the prior 16.6% series record in May 2022.
• Combining both the current series Final-Demand Goods Sector inflation, and the methodologically impaired Final-Demand Services Sector inflation, which declines with rising gasoline prices, the aggregate Final-Demand Producer Price Index (PPI-FD) June 2022 year-to-year headline inflation rate of 11.3% notched higher against some upwardly revised recent history, but remained shy of the March 2022 record high for this limited-history PPI series (created in 2009) of 11.6%, despite respective, seasonally adjusted monthly gains in April, May and June of 0.4%, 0.9% and 1.1%.
• FLASH (July 13): June 2022 Annual headline CPI-U Inflation jumped to a 41-year high of 9.1%, up from 8.6% in May, while the June 2022 Annual
ShadowStats Alternate “Corrected” CPI Inflation jumped to a new 75-Year high of 17.3%, from 16.8% in May, on top of resurgent energy prices.