Stubbornly high US inflation grew stronger than expected in March , vaulting to a 3.5% increase from last year
Stubbornly high US inflation grew stronger than expected in March , vaulting to a 3.5% increase from last year
Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer.
“High corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop.”
https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits
It’s a misnomer to call this “inflation” — it’s corporate collusion-driven price gouging.
'Vaulting'... expected 3.4%, got 3.5%. These editorialized headlines are eroding any semblance of journalism.
Of course, this all means that holders of US dollars will continue to see their wealth deteriorate while holders of gold and other actual hard assets will continue to see their wealth rise.
I just learned yesterday that Costco started selling gold boullion in August and keeps selling out. Somehow it all just feels like an absurdist comedy.
Oh wow! I was not aware of that. TIL.