US CPI MOM ACTUAL 0.4% as well as core
0.4% annualized is 4.8%
No where near 2%
As the Fed has failed to get inflation back to “normal” for 3 years now Americans are the ones that pay the price literally! pic.twitter.com/1ptVRB0bkF
— The Coastal Journal (@1CoastalJournal) March 12, 2024
The latest Consumer Price Index (CPI) data reveals a stark reality for Americans grappling with the relentless rise in living costs. With the headline CPI increasing by 0.4% monthly, translating to an annualized rate of 4.8%, the promised return to a 2% inflation target seems increasingly elusive. As pundits dismiss the surge as seasonal, ‘Seasonal’ is fast becoming the new ‘Transitory,’ leaving Americans to foot the bill for an economy grappling with sustained inflation.
A closer look at the numbers over the last three years paints a concerning picture of escalating prices across essential sectors. Medical care costs have surged by 5.8%, while apparel sees a staggering 9.8% increase. Wages have only managed a 15.0% uptick, leaving many households struggling to keep up. The brunt is felt most acutely in housing, with actual home prices soaring by 32.5%, eclipsing the modest growth in wages.
The real impact on everyday Americans becomes clear when examining the stark contrast between rising costs and incremental wage growth. If you need an additional $12,000 annually to cover increased expenses, your wages must have risen by $20,000 to maintain parity. This financial juggling act becomes even more challenging when considering post-tax income, especially for those earning around the median salary of $50,000.
Bidenomics faces heightened scrutiny as consumer prices surge by 19%, and food costs rise by 21% since President Biden took office. The narrative of transitory inflation is losing ground, with the data suggesting a more sustained trend, leaving American households financially strained in the wake of rising living expenses.
Legacy media still calling price increases seasonal.
Seasonal is the new Transitory
Yup totally looks like inflation Is trending in the right direction
— Golden Coast (Cassandra) (@GregCrennan) March 12, 2024
Translation – you’re losing ground
Your wages need to be up over 20% to par for the increases. This ignores that your wages are taxed
If you need $12,000 more a year to live – your wages need to have gone up $20,000
Plus – the median salary in the US is $50,000
So 15% of…
— Second Wind (@SecondWind2019) March 12, 2024
If you don't eat, drink, drive, and happen to live in a tent and take out other higher costs you don't like such as insurance, then there is little inflation.
— Peter Boockvar (@pboockvar) March 12, 2024
Rising inflation and rising unemployment – is that a new Fed mandate I must not know about?
— Don Johnson (@DonMiami3) September 1, 2023