Annualized Inflation Rate, 7.5%

[JohnyMac]

The annualized CPI just came out and it is a whoppen 7.5%. This is the highest rate since 1982.

The GDP doesn't matter if inflation eats it up.

I predicted inflation would rise to high single digits by mid year then start to fall as we approach the midterm elections. I am starting to think we may see no falling off by November maybe a leveling off at best.

Locally, petrol prices rose another 10? in one week. Locally, $3.69 for 87 octane now. I suspect we will see $4.00 a gallon by Memorial Day weekend.

[Nemo]

A Sheetz fuel stop nearby was at $3.05/gal Saturday last.  Had been there for several weeks, near a month or so.  Went to town Monday afternoon.  $3.20.  Just checked Gasbuddy dot com.  Reported 20 minutes ago at $3.29.

Thank You Joe Biden.   I considered that emoji above between the    and the     but do not want an official visit.

Nemo

[Jackalope]

Our local fuel prices jumped $0.30 in the past week, had some sticker shock when we were out and about yesterday.  And one of the local supermarkets was advertising ground beef at $4.99 per pound.  I'm glad we're working on our fencing projects, because the way food prices are rising, I suspect we'll have garden/chicken raiders this summer.  At least a fence will slow them down.

[JohnyMac]

Let me state this first, I support the Freedom Convoy in Canada and the one that may happen in the States.

The Freedom Convoy in Canada is and will continue to drive prices up due to supply & demand. I took a walk through Home Depot yesterday and I am seeing a return of high prices on wood building supplies. Just think what will happen if the police try to arrest trucking protesters. I suspect a vast majority of trucks not participating actively in the Freedom Convoy will park their rigs. This act will bring Canada to their knees in one week.

Now let's look at the USA Freedom Convoy. Let's assume this does happen, I suspect it may not. Anyway, looking at my intel their will be several different convoys working their way to D.C. and targeted state capitals cities. These convoys will be massif and will cause again supply issues that we have never seen in this countries history. These convoys will affect the U.S., Canada, Mexico and to be frank, other countries beyond the Pacific and Atlantic oceans.

Demand will remain the same however, supply will diminish hence prices will naturally rise. February and March CPI will rise proportionally thanks to 'supply & demand'.

This rise in CPI is not even if the Ruskies or China move forward with their invasion's of Ukraine or Taiwan respectively.

  if you are not stocked up today you will be paying more tomorrow IF you can find what you need.

Remember... "Freedom Through Self-Reliance"

[FeedingFreedom]

Shadowstats has it at 15.1% currently. I've been following them for a long time, they use the old methods of calculation for inflation, unemployment, etc. Not sure how accurate they are, but they're certainly a lot closer than .gov numbers.

[DMCakhunter]

If they counted the CPI as they did in the 80?s, it would be at least 20%. All lies.
Given where the price of crude is, fuel is at a normal price point. Just drove from Iowa to Wisconsin. 10% ethanol gas ranged from $3.05 to $3.36 and diesel ranged from $3.59 to $4.19, with the highest at a Loves truck stop in Iowa.

[JohnyMac]

Using the 1980 CPI formula. FF is correct that it would be north of 15%. I heard this morning on TV, using the older formula it would be around 16%; Regardless, it is hurting folks for sure.

MrsMac and I moved to Seattle in Jan 1980, and we both remember the prices at that time. CPI has always been a bit higher in Seattle (~3 Bpnts) as trucking was expensive to PNW due to many trucks returning empty at that time. I remember that rice, beans, pork, and local fish (salmon, crab, halibut, mussels, oysters, etc) made up most of our diet that first year living there. We did eat beef and chicken but only once a week if we were lucky.

MrsMac at the time was working as a breakfast waitress and I worked at a retailer for around $7.00 an hour. We pretty much lived off her tips while my salary paid the big bills like, rent, electric, petrol, etc. 

That is where we learned to use a budget.   

[pkveazey]

Since all reports about the rate of inflation is total BS, I have developed my own method. If I pay $1 for something today and the next time I buy that same item and it cost $2, I figure the rate of inflation is 100%. I trust my method over all the BS I see on TV.

[FeedingFreedom]

Anything over 10% is unsustainable medium- to long-term. There's always the possibility that the economy goes off the rails and hits hyperinflation. Pray that this doesn't happen. The Fed is rumored to be considering a half-point increase today or Monday. Combined with current cultural conditions, and the possibility of a truck strike/protest, the fecal matter could impact the rotary ventilator soon.

I remember my parents taking out a loan to buy a neighboring piece of land in the early 80's, the interest rate was 20%. That got paid off as soon as possible, but still ended up doubling the cost of the land.

We were not poor, both my parents ran successful businesses, but we very rarely had steak or beef after we stopped raising our own beef. Mom used to barter jeans from her store for chickens from a local farmer, and we raised rabbits for meat. Things did recover by the mid-80's, but that was with Reagan in charge, not a Chicom stooge in his dotage.

[JohnyMac]

Amen gentlemen...Amen.