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IPFS News Link • Economy - Economics USA

Thanks Biden! This Is What "Stagflation" Looks Like, And It Is Going To Be With Us For A W

• by Michael Snyd

 But that is exactly what we've got.  U.S. GDP actually declined during the first two quarters of this year, and we are being warned that economic activity could slow down a whole lot more in the months ahead.  Meanwhile, we are in the midst of the worst inflation crisis since the Jimmy Carter era.  The cost of living has become extremely oppressive, and this is particularly true when it comes to food.  We just got some new numbers from the Department of Labor on Wednesday, and quite a few of them are absolutely stunning

Fresh and dried vegetables: up 15.7 percent for the month and 40.2 percent for the year.

Grains: up 10.7 percent for the month and 30.4 percent for the year.

Fresh eggs: up 16.7 percent for the month and 97.3 percent for the year.

Bakery products: up 0.8 percent for the month and 14.0 percent for the year.

Pasta: up 1.1 percent for the month and 34.1 percent for the year.

Finfish and shellfish: up 2.5 percent for the month and 2.9 percent for the year.