'..Another critical characteristic of the earlier inflation era was frequent temporary reversals in inflation, only to be followed by new peaks..'
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(Global Stagflation)(Inflation out of control) - Inflationary Psychology Has Set In. Dislodging It Won’t Be Easy.'High inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent .. inflation .. it remains well above the Fed's 2% target.''Inflation rose more than expected in September thanks to a jump in food and housing costs, underscoring the challenge of taming price pressures within the economy.
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High inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily affected by price fluctuations.
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"Just because the rate of inflation is stable for now doesn’t mean its weight isn’t increasing every month on family budgets," said Robert Frick, corporate economist with the Navy Federal Credit Union. "And that shelter and food costs rose particularly is especially painful."'
Housing costs were the biggest driver of inflation last month. Rent costs rose 0.6% for the month and are up 7.2% from the same time last year..
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..inflation .. it remains well above the Fed's 2% target.'
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Inflation rises more than expected in September as high prices persist, October 13, 2023
'Retail sales came in higher than expectations..'
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'..hot retail sales data,' October 17, 2023'
'(Bloomberg) - An index of US industrial production rose in September to the highest level in nearly five years, led by strength in the mining and manufacturing sectors.'
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US Industrial Production Rises to Highest in Nearly Five Years, October 17, 2023
Context(Global Stagflation) - '..the [US] government will run a deficit of 5% to 7% of gross domestic product every year for the next decade.'(Global Stagflation)(Jumbo rate hikes needed, between 1 and 2 percentage point range) - '..new labor deal with big raises.'(Global Stagflation)(Inflation out of control) - 1970s-style stagflation .. repeating itself