Telling ya

before the experts do :-).

Inflation climbs higher than expected in June as price index rises 5.4%

"Temporary supply chain disruptions post COVID", seems to be a narrative you hear pushed. Well...until we get the entire world up to speed with vaccinations? The supply chain disruptions and "inflationary pressures" (Gotta love these peoples jargon btw) are going to continue. I could have swore I heard somebody talking about this not that long ago :-). I think....Yeah...Pretty sure I did :-).

"Inflation surged in June at its fastest pace in nearly 13 years amid a burst in used vehicle costs and price increases in food and energy, the Labor Department reported Tuesday."

“What this really shows is inflation pressures remain more acute than appreciated and are going to be with us for a longer period,” said Sarah House, senior economist for Wells Fargo’s corporate and investment bank. “We are seeing areas where there’s going to be ongoing inflation pressure even after we get past some of those acute price hikes in a handful of sectors.”

"A separate report from the Labor Department’s Bureau of Labor Statistics noted that the big monthly hike in consumer prices translated into negative real wages for workers. Real average hourly earnings fell 0.5% for the month, as a 0.3% increase in average hourly earnings was more than negated by the CPI increase."

Prices are rising faster than wages...Last month there were more jobs than people receiving unemployment, meaning employment is approaching capacity. Welcome to a portion of your new normal.

"We're siggin'

Cost of living get so high,

The rich and poor, they start a cry

But now the weak must get strong

They singin' "Oh, what a tribulation"

"However, housing and shelter prices continue to climb, adding fuel to the belief that inflation could stick around for a while."

I'd count on it.