To add insult to injury, the
Producer Price Index at 9.6% has grown at the fastest rate ever recorded. This is the inflation metric at the wholesale level and it shows that we're a long way from any relief because wholesalers, of course, will pass on their costs/losses to the consumer.
I read yesterday, though I can't find the link, that the only way out of this is to initiate a recession, much like what Reagan did with Paul Volcker -- reduce the money supply, along with eliminating a lot of wage and price controls and reducing spending (good luck with that these days). HuffPo pooh-poos that, of course, as does Krugman (probably -- too lazy to look).
The upshot is, we're going to continue to lose ground with #SharterJoe's policies and Congress' reckless spending habits.
https://alphanews.org/one-key-metric-for-inflation-reaches-highest-rate-ever/