Advisory: Be careful of what you read on social media. The algorithms used by these platforms have no regard for Biblical truth. They target your emotions to keep you engaged on their site so their advertisers can drop more ads. These platforms exist to enrich their stockholders. Consider God’s promise to Believers in James 1:5, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.”
Hyper Pukes Satan Soldiers…
Get Prepared, the Plandemic Seems to Be Working for the New World Order Elitist, Food Shortages Are Coming to America, It’s All Part of the Plan–-They Must Get You to Submit to the New World Order Trump, Joe Biden, George Soros, ‘Hell on Earth’.
Prices Rise at Fastest Pace in Years, Fueling More Inflation Fears
in an Effort to Crush the Working Class Into Submission Food Prices Will Reach 10 Times What It Was This Time Last Year…
WASHINGTON—U.S. inflation in May rose 5 percent from a year ago, recording the biggest annual spike since 2008 as supply bottlenecks and surging household demand continue to push prices higher.
While transitory factors continue to lift prices, the economy sees more signs of continuing inflationary pressures, according to analysts, which may point to persistently high inflation.
The rise in used car prices accounted for about a third of the increase in overall inflation. Prices for used cars and trucks jumped 7.3 percent in May, following a 10 percent increase in April, as global semiconductor shortages continue to affect new car production. This put “used car prices up at more than a 170 percent annualized pace over the past two months,” according to Morgan Stanley.
Airfares were also up 7 percent, and rental car prices jumped another 12 percent last month.
Food prices rose 0.4 percent and energy prices remained flat in May. Analysts, however, expect a further increase in food prices in the coming months.
Core inflation, which excludes the volatile food and energy components, is up 3.8 percent over the past year—the largest gain in 28 years.
The sharp jump in the year-over-year inflation number is partially due to the base effect, as the pandemic lockdowns and the plunging economy caused weak consumer inflation a year ago. The base effect is expected to level off in June.
In March, the central bank raised its inflation projection for 2021 to 2.4 percent, up from the 1.8 percent projected earlier. Fed officials have repeatedly said price increases are “transitory,” with the expectation that inflation will eventually return to the central bank’s 2 percent target.
Recent inflation data, however, may require the Fed to revisit its inflation forecasts.
“The outsized gains in a few select sectors support the Fed’s view that the current degree of price pressures is temporary,” Sarah House, senior economist at Wells Fargo Securities, wrote in a report. “However, we see signs of inflationary pressures broadening out, which we believe will keep monthly price gains from merely falling back to their pre-pandemic trend after the current flurry of activity.”
Restaurants and groceries have started to raise their prices as they face increasing food and labor costs. Agricultural commodity prices surged about 60 percent over the past year, reaching a decade high, according to Wells Fargo. And average hourly earnings at restaurants have increased 24.4 percent at an annualized rate in the past three months, as business owners scramble to fill open job positions.
Ellen Zentner, chief U.S. economist at Morgan Stanley, said persistent inflationary pressure could be greater than expected this year.
“What was most notable in this report is that while transitory factors did a lot of the heavy lifting driving the May upside, the more persistent components like rents and OER [owner’s equivalent rent] firmed up as well much more than expected,” she wrote in a report.
OER, which is used to estimate shelter cost (a monthly rent that would be equivalent to the monthly expenses of owning a house), rose 0.31 percent in May, the largest increase since June 2019. And rents increased 0.24 percent, the largest since March 2020, according to Morgan Stanley.
“I think it’s going to be more persistent than transitory,” Joseph Carson, a former Alliance Bernstein and Commerce Department economist, told NTD TV.
“You have a lot of factors pushing it up, like monetary policy, fiscal policy, pent up demand, worker shortage, wage increases.”
Carson also noted that the current business cycle is “quite unusual.” Unlike previous recessions, unique features of this recovery cycle include low inventory levels and wage inflation, which are driving prices higher.
One of the world’s largest consumer goods corporations, Procter & Gamble, announced that it would raise prices for its baby, feminine, and adult care products.
David Taylor, CEO of Procter & Gamble, said at a virtual conference hosted by Fortune that inflation is “inevitable.”
“Yes, it is very real. We are seeing it across a number of products. It’s pulp, it’s paper, it’s anything involving oil. Plastic packaging is going up. Trucking costs have gone up significantly. Ocean freight has gone up significantly. You are seeing it in a wide range of cost areas.”
Tom Ozimek contributed to this report. Source: theepochtimes
As global central banks continue to flood the system with funny money, insisting inflation is non-existent, as such, the Federal Reserve last week announced a new approach to inflation would let it run over the 2% target, food price inflation is rising this summer, according to a new report via the United Nations food agency.
Food and Agriculture Organization (FAO) of the United Nations said world food prices rose for the third consecutive month in August, led by increases in coarse grains, vegetable oils, and sugar.
FAO’s food price index, which tracks food prices monthly, averaged 96.1 in August versus 94.3 in July. The index dropped from January through April due to the virus-related recession, bottoming in May and reversing through summer.
Here’s a long-term view of FAO’s food price index.
As grains, vegetable oils and sugar prices are on the rise, the good news for consumers is that dairy and meat prices were unchanged. Readers may recall beef prices exploded in the US during the pandemic as meat plant closures led to supply chain chaos.
Here’s a breakdown of FAO’s report:
As grains, vegetable oils, and sugar prices are on the rise, the good news for consumers is that dairy and meat prices slumped were unchanged. Here’s a breakdown of FAO’s report:
The FAO Cereal Price Index rose by 1.9 percent from July, averaging 7.0 percent above its value in August 2019, with coarse grains leading the rise. Sorghum prices rose 8.6 percent – and stood at 33.4 percent above their year-ago level, mostly on the back of strong import demand by China. Maize prices rose 2.2 percent amid concerns that recent crop damages in Iowa would impact supply. International rice prices also rose, underpinned by seasonally tight availabilities and increasing African demand.
The FAO Sugar Price Index rose by 6.7 percent from the previous month, reflecting reduced production prospects due to unfavorable weather conditions in the European Union and Thailand, the world’s second-largest sugar exporter, as well as strong import demand by China.
The FAO Vegetable Oil Price Index increased by 5.9 percent, led by firmer values for palm oil especially, but also soy, sunflower, and rapeseed oils. The moves mainly reflect prospective production slowdowns in leading palm oil-producing countries amid firm global import demand.
The FAO Dairy Price Index was virtually unchanged from July, with cheese and whole milk powder quotations declining amid expectations of ample seasonal export availabilities in Oceania, while butter prices rose due to tightening export availabilities in Europe in the wake of the August heatwave reducing milk output.
The FAO Meat Price Index was also almost unchanged since July – although down 8.9 percent from August 2019 – as the effect of lower import demand for bovine, poultry, and ovine meats was offset by surging import demand for pigmeat from China. -FAO
Simultaneously, worldwide economic activity is starting to sputter as surging virus cases in the US, Europe, and Southeast Asia have forced many local governments to reimpose strict public health orders, which could jeopardize the recovery in world trade for the back half of 2020.
A faltering global recovery, with depressionary unemployment, blended with rising food price inflation is more bad news for low-income households worldwide.
So can central banks ignore food price inflation? The answer is no – as soaring food costs have the risk to incite further social unrest.
The Plandemic Has Been Designed to Make Society Suffer. They Know If They Crush Society, They Will Be Able to Implement the New World Order. The Alternative Would Be FEMA Food Lines, Satan Soldiers, and Billionaire Financier George Soros in Full Stride.
These governors and politicians are caught up in their own destruction, the Plandemic has turned on its creators and will wreak havoc…
The World Is In Big Trouble, for Those That Believe We Will Go Back to Some Sense of Normal Life Here on Earth, You Will Be Sadly Disappointed, Seven Years of Hell on Earth Which Began January 1, 2020
The World Is In Big Trouble, for Those That Believe We Will Go Back to Some Sense of Normal Life Here on Earth, You Will Be Sadly Disappointed, Seven and Half Years of Hell on Earth Which Began January 1, 2020
“Our courts oppose the righteous, and justice is nowhere to be found. Truth stumbles in the streets, and honesty has been outlawed” (Isa. 59:14, NLT)…We Turned Our Backs On GOD, Now We Have Been Left To Our Own Devices, Enjoy…
While Mainstream Media Continues to Push a False Narrative, Big Tech Has Keep the Truth From Coming out by Shadow Banning Conservatives, Christians, and Like-Minded People, Those Death Attributed to the Coronavirus Is a Result of Those Mentioned, They Truly Are Evil…
Watchmen does not confuse truth with consensus The Watchmen does not confuse God’s word with the word of those in power…
In police-state fashion, Big Tech took the list of accused (including this site), declared all those named guilty and promptly shadow-banned, de-platformed or de-monetized us all without coming clean about how they engineered the crushing of dissent, Now more than ever big Tech has exposed there hand engaging in devious underhanded tactics to make the sinister look saintly, one of Satan’s greatest weapons happens to be deceit…
The accumulating death toll from Covid-19 can be seen minute-by-minute on cable news channels. But there’s another death toll few seem to care much about: the number of poverty-related deaths being set in motion by deliberately plunging millions of Americans into poverty and despair.
American health care, as we call it today, and for all its high-tech miracles, has evolved into one of the most atrocious rackets the world has ever seen. By racket, I mean an enterprise organized explicitly to make money dishonestly.
All the official reassurances won’t be worth a bucket of warm spit. The Globals are behind the CoronaVirus, It Is a Man-Made Bioweapon.
Google, Reddit, Twitter, and FaceBook are Demonization or Demonisation is the reinterpretation of polytheistic deities as evil, lying demons by other religions, generally by the monotheistic and henotheistic ones. The term has since been expanded to refer to any characterization of individuals, groups, or political bodies as evil…
Isis hackers release new ‘random’ kill list with 4000 names from database previously available online
An Islamic State (Isis)-affiliated hacker group called the Caliphate Cyber Army (CCA)has released a new “kill list” on social media, with names, addresses and emails…Read More
[![c5l80f7wqai6p1p](https://hnewswire.com/content/images/2017/02/c5l80f7wqai6p1p.jpg?w=306&h=186&crop&ssl=1 “c5l80f7wqai6p1p”)](https://hnewswire.com/2017/02/27/daily-devotion-7/c5l80f7wqai6p1p/) [![GOD LOVE](https://hnewswire.com/content/images/2017/04/god-love.jpg?w=186&h=186&crop=1&ssl=1 “GOD LOVE”)](https://hnewswire.com/2017/04/06/daily-devotion-18/god-love/) Matthew 27:45-46 (NIV) *45From the sixth hour until the ninth hour darkness came over all the land. 46About the…Read More
“Target didn’t adequately assess the risk, and the ensuing backlash [AFA boycott] was self-inflicted.” – Target CEO Brian Cornell A very damaging article just out…Read More
WASHINGTON (April 5, 2017) — Citing no evidence, President Donald Trump on Wednesday accused his predecessor’s national security adviser of breaking the law, one month…Read More
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