FTA: "Fresh data from the Bureau of Labor Statistics showed July's annual inflation rate hit 2.9 percent, dipping below 3 percent for the first time since March 2021, when price increases took off on the heels of the pandemic. A core measure that strips out volatile categories such as food and energy also saw the smallest 12-month increase since April 2021." read more
"The Labor Department's producer price index showed a monthly increase of 0.1% for July, with an annual rise of 2.2%. Econoday had expected a monthly increase of 0.2% for July, with an annual rise of 2.6%. The core PPI, excluding food and energy, was unchanged on the month, with a 2.4% year-over-year increase. Wall Street had anticipated the core PPI to rise 0.2% on the month, with a year-over-year increase of 3%." read more
"A new report claims "resounding evidence" shows that high corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop."
www.theguardian.com
"As Hostess's C.E.O. told shareholders last quarter, "When all prices go up, it helps." The head of research for the bank Barclay's echoed this. "The longer inflation lasts and the more widespread it is, the more air cover it gives companies to raise prices," he told Bloomberg. More than half of retailers admitted as much when surveyed."
www.nytimes.com
I have no issue with Harris' proposal so far. There just isn't enough information to make any kind of worthwhile opinion.
Anyone hyperventilating over this is trying to get attention or being ridiculously and transparently partisan.
Especially when inflation on groceries was 1.1% last month.
Grocery stores typically have a profit margin of about 2%. Price controls will put many chains out of business.
www.marketplace.org
I'm surprised at the author's lack of comprehension on how markets work, though. Then again the WaPo's Opinion pages have been ridiculous on this subject, mischaracterizing and making gross assumptions. Fortunately the comment section is ripping them to shreds for their facile handling of this subject.
Here comes the LOVE!
Thank you, Joe!
Thank you, Joe!
Thank you, Joe!