The BLS reported the consumer price index for inflation today and it’s not looking good. You can read the boring report here or you can see nice graphical charts of the information over at CNBC here.
The eye popping numbers in some items:
- Coffee: +21.7%
- Beef steaks: +16.6%
- Eggs: +10.9%
- Fish: +6.7%
- Vehicle Repair: +15%
- Furniture: +9.5%
I haven’t yet checked insurance but I’m assuming that’s also up if vehicle repair is up. Most auto parts come from overseas and they now have some type of tariff on them.
The Federal Reserve is meeting next week and the expectation is that they will lower rates which usually drives demand up for goods and services so I expect inflation to re-accelerate but anything can happen in the crazy times we now live in.
The best thing for me to do is to hedge my investments, move to cash and invest in a bit of gold.
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