Signs Inflation Is Getting Worse | Real Inflation Rate | What’s Worsening Inflation?


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US Inflation Rate is at 4.99%, compared to 4.16% last month and 0.12% last year. This is higher than the long term average of 3.22%.

However, many experts estimate that the real inflation rate is way higher. Here are concrete signs that inflation is worse now than ever.

#1 Even the rich feels its impact

Unfortunately, when inflation hits, it’s those at the bottom of the economic food chain that gets hit the hardest. This time, even the middle class and upper class are worried about inflation.

CNBC’s latest millionaire survey showed that 65% of millionaires are concerned about inflation. This is a stark difference from previous years. Many millionaires used to celebrate inflation because it’s an opportunity for them to get into more investments.

#2 Minimum Wage does not cover commodity price increase

Yes, we got a $1 minimum wage increase. That’s $8 more a day. Great!

Then you head to load up on gas and it’s twice the price. Restaurants are increasing their prices by more than 10%. And who can blame them? They need to earn enough to pay their employees and extra $1 a day and cover their insurance that’s increased more than 25%.

It’s ridiculous. We are chasing our tails.

#3 Housing prices continue to soar

Shelter is a basic necessity but the house market is soaring.

According to the LA Times, the increase in home prices nationally was 17.2% last year.

In Austin, Texas, the median listing price for a house rose 40% in one year.

In Los Angeles County, the median sales price rose 14.3%, while sales climbed 19.1%.

And don’t get me started with rent.

#4 Used cars are like buying a Tesla. Okay, that’s an exaggeration but you get what I mean.

The Used Vehicle Value Index has shot up by 26 percent so far in 2021.

Prices of used vehicles sold at auctions around the US in May spiked by 4.6% from April, by 26% year-to-date, and by 45% from April 2019, according to the Used Vehicle Value Index.

With these prices, it’s better to take the train or bus. Oh, that’s right, our public transportation system is also messed up.

#5 Food prices continue to surge higher

Global food prices rose for the 12th month in a row in May, up nearly 40% year over year, according to the United Nations’ food price index. Last month was also the sharpest monthly rise in average food prices in over a decade, spiking 4.8% from April to May.

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