The inflation kerfuffle, Chapter 1
Food prices soar faster than inflation, incomes
Bloomberg/Emily Cadman, Deena Shanker, Leslie Patton, Charlie Wells
Repost from 3-1-2021
“In Indonesia, tofu is 30% more expensive than it was in December. In Brazil, the price of local mainstay turtle beans is up 54% compared to last January.”
Economist Stephen Moore rings warning bell on inflation
“I kind of laughed when I saw this week Fed Chairman Jerome Powell say, ‘Hey there’s no inflation out there; we don’t see any inflation’: He should get out more,” Moore said. He should go to the grocery store. He should go to the gasoline pump.”
USAGOLD note: It’s all about soaring commodity prices across the boards and beginning to filter into pricing on everyday items.