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If you’re a regular reader of this site you know that we cover inflation pretty extensively. Today’s graphic from Statista says there’s no way around the fact that consumer prices in the United States have risen sharply over the past several years – with a host of factors coming together to form a perfect storm of inflationary pressure. Their chart illustrates which categories have been hardest hit by this wave of inflation. Stay safe and have a Happy Friday!!!
“Since February 2020, the last month before the Covid-19 pandemic disrupted the global economy, the Consumer Price Index for All Urban Consumers (CPI-U) has increased 21.7 percent. Assuming the Fed’s targeted 2-percent inflation rate, prices would only have increased by 9.7 percent during that period, illustrating how severe the recent inflation surge has been. More importantly though, prices are going to remain elevated even if inflation returns to its target level of 2 percent, meaning that the effects of the inflation crisis will linger.”
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