I am totally not surprised. And inflation is actually worse than this because the CPI does not take into account fuel costs and food costs, which are leading indicators of actual inflation.
From ZeroHedge.
With The White House having desperately tried to front-run this morning’s inflation print, analysts were expecting a jump higher led by food and energy costs. They were right in direction but it was way worse as the headline CPI soared 9.1% YoY (vs 8.8% exp and 8.6% prior)…
Source: Bloomberg
The 1.3% MoM rise is the hottest since 2005…
Source: Bloomberg
…and the 9.1% YoY is the hottest since 1981.
Source: Bloomberg
Goods inflation is slowing but services costs are soaring at their fastest since 1991…
Source: Bloomberg
