"The report from the Bureau of Labor Statistics is the latest sign of economic misery for Americans", but that is not all.... read this article to see that inflation is not the only thing news worthy.
Thursday, August 14, 2008
Summer Reading 18: Inflation Surges to 5.6%
"The report from the Bureau of Labor Statistics is the latest sign of economic misery for Americans", but that is not all.... read this article to see that inflation is not the only thing news worthy.
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11 comments:
With the inflation rate at its highest point in 17 years, which is all being driven by food and energy prices, I feel like this recession is just going to get worse. With prices and unemployment rising, its going to take much time to get our economy up to where it should be. Every time I go to the store, the following week price's go up so much more and I just can't take it anymore. I hope with our new president, whoever it may be, will have a good solution or plan for all this mess.
Its amazing that the inflation rate is the highest its been in 17 years. But, if you look closely, the article said that the last time it was 5.6% was in January 1991, "when the Persian Gulf Was was raging." Makes me think that higher energy and food costs aren't the only culprits. I think that the war also is contributing a lot to the inflation rate. I hope this recession doesn't get any worse and whoever our new president is has brilliant plan to combat it.
I don't think the inflation rate will exceed or come close to the rate of the Great Depression. The article said the worst of inflation is over. The article earlier on about the lowering price of oi; warned about the high prices of energy. Both McCain and Obama have different plans for new energy sources. That should help out with the cost of energy. The recession will get worse, however the inflation will get better.
I agree with Hannah, i also think the inflation rate will not be as bad as it was during the Great Depression. Even though the inflation rate is at it's highest point in 17 years, i believe that the worst is over and that it can only get better from here on.
The recession will go down, but inflation will get better. The articles says "Recession kills inflation."
As others have already pointed out, the inflation rate at its highest in 17 years is most definitely a Bad Thing. According to the article, inflation is expected to decline, so that's good, though I'm skeptical.
With the change in president we will see what he can do in this department. This is another crucial issue i would think. i feel it myself that food prices go up. i work and buy my own things even at the grocery. And i can believe i spend that much for apples and grapes. and that should be the cheapest becasue we can grow them! once again i dont really get it.
There are plans for this that are going to help a lot from the candidates that are running for president and im sure whoever wins, they are going to do what they can and change it. Especially since its the highest its been in 17 years.
Even with the inflation rate as high as it is I feel it will go down in time jus like the article says. However us the community needs to do things to help this process go faster.
food and energy prices are driving up inflation, and especially with where the minimum wage is, its getting harder and harder to support ourselves and families. According to the article, inflation will get better, but it will only get better because we're in a recession, and 'recession kills inflation'
Agreeing with Tamika i feel that with all the jobs being demolished and energy pricing it will take a while to get our economy back to normal. Although i dont feel as its as horrible as it can get i do think its pretty bad. As the new presidential election is to come in 2 months i feels as if the president will try hard to get it back to normal.
From what I can get out of this is that once again we are wasting stuff as Americans usually do. The inflation on energy and small things like that is really just us. Food on the other hand is understandable we all have to eat.
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