The Obama Boom continues to destroy our living standards. Whole sale prices rose 1% in April. Keep in mind, wages are flat or declining since the most jobs are now retail low wage positions. To make matters worse, the official inflation rate is at 6.8% for the year. This is stagflation 70’s style and there’s no relief in sight.
WASHINGTON (AP) — Companies paid more for raw materials and factory goods in April, mostly because energy prices jumped for the seventh straight month..
The Producer Price Index, which measures price changes before they reach the consumer, rose 0.8 percent last month, the Labor Department said. That’s slightly above the 0.7 percent gain in March. Excluding the volatile food and energy categories, the core index increased 0.3 percent, the same as in the previous month.
Over the past 12 months, the index has increased 6.8 percent, the biggest gain in nearly three years. Outside of food and energy, prices rose 2.1 percent, up from a 1.9 percent gain in March
The Obama Boom is definitely retro 70’s. Unlike back then, when raises were given out, wages are going down. This is part of an 11 year economic decline that shows no end. Now with inflation, this decline is accelerating.
Tags: Inflation, Stagflation, The Obama Boom, Wholesale Prices
