US wholesale prices accelerated in October mainly due to rising costs of goods. Higher prices also pushed household debts in the US to touch $15 trillion during the third quarter.
Government overspending and short-sighted economic policies have created unprecedented inflation, supply chain disruptions, and a labor market crisis.
US inflation hit 6.2% last month, the highest level since 1990. Some prices like hotels, TVs, wash machines are starting to fall after pandemic spikes. BUT rent, gas, utilities and food are rising — and unlikely to be short-lived.
What people are saying?
Watchdog Progressive Jobs returning and high demand for goods and services. This is the success of the Biden economy. It will likely settle down in 2022 – though not even the best economists can say when.
Dennis Sobiech Why do we give gas and oil companies billions in subsides, obviously so they can just rip us off at the pumps,greed is going to kill this country.