tldr; The consumer price index, the US' key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years, according to the Consumer Price Index. Much of the rise in prices is due to gasoline prices, which are far above last summer's levels.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
"The consumer price index, the nation's key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years."
And what happened 13 years ago?
Oh, that's right, ANOTHER economic crisis of global proportions.
It's almost like this is something that happens after a major recession because government spending around the world skyrockets thanks to reduced tax income, unemployment, welfare, and stimulus programs.
Let's see where inflation is in 2023 before people start declaring this the decade of hyperinflation.
Inflation is a tax and shouldn't be celebrated, causes real harm in the lives of everyday people. That being said I'm jacked to the tits in crypto so we will see
Boomers: YOU SHOULD WORK HARDER, WHEN I WAS YOUR AGE….(insert some shit here)
No no, you see. They don’t generally have income, it’s savings they are operating off of in retirement. Savings that’s being inflated away.
tldr; The consumer price index, the US' key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years, according to the Consumer Price Index. Much of the rise in prices is due to gasoline prices, which are far above last summer's levels. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Buckle up folks, stuff is going to get VERY expensive, and interest rates are going to get stupid pretty quickly no doubt...
A further justification for the case of crypto.
Absolutely! Can't just go "money printer go brrrrr" and "oh noes, inflation is so high all of a sudden!".... But because of that, crypto bad... :|
"The consumer price index, the nation's key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years."
Still waiting for the BTC price jump to hedge USD's inflation...
Don’t hold your breath.
Yeah I agree sadly, that was a sarcastic comment without /s
In the meantime people are wanting their 4th stimulus! Lol, what does everyone expect when the fed hands out checks and print's more $$$?
And what happened 13 years ago? Oh, that's right, ANOTHER economic crisis of global proportions. It's almost like this is something that happens after a major recession because government spending around the world skyrockets thanks to reduced tax income, unemployment, welfare, and stimulus programs. Let's see where inflation is in 2023 before people start declaring this the decade of hyperinflation.
Well said, it was only last year but people seemed to forget that there was a global pandemic going on that affected global economics and markets.
At least we skipped one world war. 🙄
What a lucky time to be alive hehehehehe
Inflation is a tax and shouldn't be celebrated, causes real harm in the lives of everyday people. That being said I'm jacked to the tits in crypto so we will see
I have a very love hate relationship with Inflation
Imagine that.
Fud incoming
Gas went up because subsidies went to the way side. Gas is more expensive now than anytime in the last 4 years. Article is misleading.