Inflation Runs at a 26-Year High
The once-mighty US dollar is full of hot air, or at least the rate of inflation is at a 26-year high due to the recent economic toils and astronomical energy prices Prices U consumers pay shot up 11 percent in June -- or more directly, your paycheck just got 11 percent smaller.
The once-mighty U.S. dollar is full of hot air, or at least the rate of inflation is at a 26-year high due to the recent economic toils and astronomical energy prices. Prices U.S. consumers pay shot up 1.1 percent in June — or more directly, your paycheck just got 1.1 percent smaller.
Wait, before you go…The BBC:
US inflation accelerated at the fastest rate in 26 years in June, fuelled higher by surging energy prices, official figures have shown.
Consumer prices rose by 1.1% in June, the Labor Department said, more than the 0.7% many analysts had expected.
Federal Reserve boss Ben Bernanke said on Tuesday that the threat of rising inflation had intensified recently.
High inflation will make it harder for the Fed to cut rates and boost an economy hurt by a housing market slump.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
Opinion
Staunch capitalists like Gurner tell us every day they want more exploitation and precarity for people just trying to get by.
Politics
From Gramsci’s political thinking and practical strategizing come a set of ideas that arguably have only grown more salient with time.
Technology
Degrowth scholarship embraces technology—to the extent that these are feasible, ecologically coherent, and socially just.
Environment
The fossil fuel industry and right-wing activists are increasingly targeting investors that consider environmental and social issues — but is it working?
Environment
To slow climate change and rescue key ecosystems from the brink, a new economic paradigm is needed.
Business & Economy
Advocates want to enforce statutes banning ownership of medical practices by corporations not owned by physicians.
There are currently no responses to this article.
Be the first to respond.