A couple of days ago the US government posted a decade long inflation rate of 9.1% year over year. This means the past June compared to last year June consumer price index has risen 9.1%.
Rather than getting into the weed of what this all means lets just look at some charts.
The CPI for US has been rising since middle of last year 2021. Yet at the time we kept hearing from the FED that inflation would be transitory. That is literally over a year ago and every month a new decade high in inflation.
Of course a top will come sooner or later. Since this current rise in CPI it is hitting records not seen in 40 years.
Take not CPI never went negative even during the time of the global lock down. So all that stimulus and money printing is a large part of what we are facing.
If you were wondering how other countries are doing look no further in China there is a similar chart pattern where inflation is a lot higher than where it was a year ago.
European Union is even worse as each month it has only reach a higher high than the month before.
Conclusions
Sadly the pain in the economy due to inflation may be here for awhile. Since there has been aggressive rate hikes by the FED and reduction of FED's balance sheet we can only hope that inflation subsides soon enough. Until then we are suffering the consequences that the FED created.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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