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"5 New Numbers That Prove That America’s
Horrifying Inflation Crisis Is Getting Even Worse"
by Epic Economist
"Inflation is SOARING in the US! The inflation rate is now at 7.5% and many signs point that inflation is getting worse! That’s what we’re going to expose in today’s video. We’re sharing 5 numbers that show that why the horrifying inflation crisis is getting even worse!
The vast majority of the U.S. population has never seen inflation running this hot in their entire lives. Explosive consumer prices are bringing a lot of pain to everyday Americans, whose buying power has been on a steady decline. The producer price index just hit a new record high.
In essence, “PPI offers a window to the price pressures that businesses are facing, and which will likely be passed on to consumers in the way of consumer price inflation in the months to come,” PNC economist Kurt Rankin has explained. “Strong gains across the board for businesses reinforce the inflationary concerns that the Federal Reserve is set to battle this year with monetary policy, and which the economy, in general, has recently begun expressing caution and concern over”.
Meanwhile, the transportation crisis continues to aggravate! There’s a massive shortage of trailers adding much more pressure to our already-stressed supply chains. Since the final quarter of 2021, trailer manufacturing has contracted. Of course, the effects of this shortfall are already rippling through the economy and leading to much more expensive rates to move goods across the country. The Department of Labor’s index of the price of transportation of freight by truck rose 18.3 percent last month compared to a year ago. Rail freight prices have also jumped nine percent and air freight prices went up 10.8 percent
On a consumer level, the rise in transportation costs has been even more acute. Last week, the U.S. Bureau of Labor Statistics released new data showing that the price of used vehicles shoot up! The agency pointed out that the market is extremely bleak for buyers right now, and blamed the aggressive increase in prices on the ongoing global semiconductor shortage.
You may have noticed that prices at the pump have been shooting up recently. Between January 2021 and January 2022 gas prices rose from an average of $2.50 to $3.50 per gallon last Sunday, up nearly a dollar from last year's levels, according to AAA. Recent data also shows that transportation services - including buses, trains, airlines, and taxisare expected to continue rising throughout 2022 as gasoline prices soar all across the country.
Furthermore, if you’re thinking about remodeling or buying a newly-built home, you may have to think twice. The price of lumber has started to go up once again. The latest numbers released by the National Association of Home Builders suggest that the most recent price jump has added “more than $18,600 to the price of a newly built home.”
“With a historically low level of overall housing inventory and solid demand due to low mortgage interest rates and favorable demographics, new construction has been unable to add additional needed supply to the market, resulting in unsustainable gains for home prices,” stressed David Logan, director of tax and trade analysis at NAHB.
We are headed to national ruin, and those that are running our country are even more blind than those that they are supposed to be leading."
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