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HIGHER PRICES FOR EVERYTHING--: LESSON #314 The cost of household energy, which includes electricity and other fuels such as heating oil, propane, and natural gas, has jumped 7.1% during the past year. That's the biggest year-over-year increase since 2023.
Eggs: . The average retail price for a dozen eggs is predicted to rise by 41.1% in 2025, according to the USDA. Homeowners Insurance: . Premiums for new policies rose by 10.7% on average in the first half of 2024, and this trend is expected to continue into 2025. Prescription Drugs: . Several drug manufacturers have announced price increases for 2025, ranging from 2% to 10%. Food: . Food prices in general are expected to increase by 2.9%, with food-at-home prices predicted to rise by 2.2%, according to the USDA. Travel: . Travel costs are expected to increase, with domestic flights facing the biggest hikes, and some destinations requiring Electronic Travel Authorizations, which cost money. Household Appliances: . Appliances like washing machines, refrigerators, and stoves that rely on imported steel parts may become more expensive due to expanded tariffs, according to the Commerce Department. Tariff-Exposed Goods: . Items heavily reliant on imported materials and components, such as toys, appliances, sporting goods, and tools, may also see price increases due to tariffs. I guess the question is::: what is going down? In a working economy prices go up and prices go down. What is going down?
Chocolate & Copper are good case studies. Putting tariffs on needed drugs in the hope of forcing drug companies out of the EU that will backfire horribly. Heed my warning yesterday on the EU... they aint messing around and there is building support for a large US resistance movement.
Each successive inflation report is going to be worse and worse. US inflation heated back up in June, rising to its highest level in four months Economists cautioned that the tariff-related price hikes wouldn’t come quickly nor in one fell swoop and would likely start to hit consumers more as the year went on. “It’s really been an inventory story,” Long said. “Businesses have done an excellent job of managing inventory, particularly the large retailers heading into April” when the bulk of the tariff hikes were put into place. The larger retailers were carrying about three months’ worth of extra inventory, Long said. “And so, you do the math in your head and you’re thinking, ‘OK, this summer, right?’” she said. “They’re eventually going to run out of inventory or run down their inventory and have to bring in more items with the tariff costs.” The TOY story- Toys:For the second month in a row, prices rose by 1.4%, a back-to-back jump only seen during periods of abnormally high inflation (2022, 1980). And more price hikes could be coming down the pike,Hasbro CEO told CNN’s Audie Cornish this week.
renovation anyone-? Windows and floor coverings and other linens: After rising 0.3% from May to April, prices in this category surged 4.2% higher in June, a record-high increase (BLS started tracking this category in early 1999). The US textile industry has shrunk considerably in recent decades, resulting in a high reliance on imported linens.
“We do have to bear in mind that goods are still only 25% of the core CPI, and so it takes a pretty meaningful increase in those goods prices to really lead to a spike in core inflation,” Sarah House, senior economist at Wells Fargo, told CNN earlier this week. But the people.. the people who buy things they will feel the pain bigely.
prices on coffee and oranges — categories already hit hard by climate-related impacts and also expected to feel added price pressure from tariffs — spiked in June. Trump’s latest tariff threats on Canada and Mexico could reignite fears of higher food prices,
“I think one thing that Wall Street, a lot of economists, (the) market in general, got wrong early on was that tariffs were going to cause a substantial price level rise, which just hasn’t happened,” US Treasury Secretary Scott Bessent said in an interview on Bloomberg prior to the CPI’s release Tuesday morning.