Repost from 8-30-2021
“Including volatile food and energy prices, the index rose 4.2% year over year, up from 4% in June and the highest reading since January 1991. Personal income also surged for the month, jumping 1.1%, well ahead of the 0.3% Dow Jones estimate.”
USAGOLD note: The jump in income, you will note, is substantially less than the inflation gain – a trend that will continue in all likelihood. Too, yields are substantially less than the gain in the PCE index – another trend likely to continue. Meanwhile, the Fed chairman sticks to his mantra that inflation is a passing phenomenon while adding 100-proof spirits to the punch bowl.
Sources: St. Louis Federal Reserve, U.S. Bureau of Economic Analysis