It’s like places want to get their pandemic loses back now…..
The economy maybe better as they tell us?
But something’s just ain’t right…
Every store you go in to has a ‘help wanted’ sign….
Employer’s are ‘ordering’ to come back to work at the office….
Employer’s are ‘ordering ‘ worker’s to get shot’s….
School’s to open for ALL student’s?
Eviction’s on the rise?
House prices thru the roof?
Winter coming and people will be back inside?
Prices climbed 0.5 percent over the month from June to July, a slower pace than in recent months but still sizable enough that it outpaced the healthy wage gains workers across the income spectrum have received. As a result, real earnings decreased 0.1 percent over the month, government data shows.
The consumer price index, a key measure of inflation, rose 5.4 percent in July from the same month last year as the cost of meat and dairy products, hotel room stays, restaurant dinners and other items increased, according to Labor Department data released Wednesday. It’s the second straight month of year-over-year increases at that level, the biggest jump since 2008.
The data marks the latest month in which rising prices have overshadowed wage gains, all but erasing the impact of pay hikes that have been celebrated from Biden on down as a sign of workers’ new bargaining power and of the robustness of the economic recovery.
It’s part of a larger pattern, too: Even as compensation rose at a 2.8 percent annual rate in the three months ending in June, prices rose faster — leaving compensation lower than it was in December 2019 once it’s adjusted for inflation, according to a recent analysis by Jason Furman, who served as a top economic adviser in the Obama administration.
“It means that households are falling behind,” Furman, now a professor at Harvard, said in an interview. “When you have a hot economy, you get faster wage growth and you get faster price growth. And right now, the price growth is winning the race.”
The latest monthly numbers come amid fears of spiraling inflation, and as the White House has sought to tamp down concerns about its staying power.
Economists were quick to point out on Wednesday that some of the sectors that had seen the most dramatic price hikes — used cars and trucks in particular — slowed substantially in July, bolstering the view that much of the rise is likely to be transitory and prompting some to forecast that inflation has reached its peak….