Boots & Sabers

The blogging will continue until morale improves...

Owen

Everything but tech support.
}

1741, 11 May 22

Inflation Up. Wages Down.

Let’s go Brandon. I would ask, what “economic expansion?” Did CNBC not see that the economy contracted in Q1?

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

 

The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close to the highest level since the summer of 1982.

Removing volatile food and energy prices, so-called core CPI still rose 6.2%, against expectations for a 6% gain, clouding hopes that inflation had peaked in March.

 

The month-over-month gains also were higher than expectations — 0.3% on headline CPI versus the 0.2% estimate and a 0.6% increase for core, against the outlook for a 0.4% gain.

 

The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have

}

1741, 11 May 2022

0 Comments

Submit a Comment

Pin It on Pinterest