We all know that the price of everything is going up. New inflation numbers will be released later this morning. There is some belief that there may be some improvement. Let’s hope.
We know this. Gas prices have reached a record high. AAA reports that gas prices shot up again overnight. The national average is now $4.40 a gallon.
In Florida, the average is $4.32. It was $4.17 a week ago. I’m no mathematician, but that looks like a 15 cent increase. In a week!
Diesel is up even more. That raises trucking costs. That makes everything cost more.
President Biden is taking it on. “I’m taking inflation very seriously and it’s my top domestic priority.”
Fox News reports that President Biden will go to Illinois today to talk about new plans to reduce agricultural costs. Maybe that will help to bring down food costs.
Today’s New York Times has a story about why the Federal Reserve acted too slowly on inflation. Even officials at the Fed are acknowledging it.
When inflation began to accelerate last spring, the Fed and economists thought it would fade quickly. As we know, it did not.
Interest rates didn’t go up until March. Now, we are paying the price. Literally, we are paying the price… for everything.
Let’s hope this new consumer price index will show that inflation has peaked. We need a little good news. We need a break.
Stock futures look good. Investors seem to think good news is on the way. Let’s hope they are right.
Filling up the tank has become a painful experience. I just keep watching the numbers go up. When will it stop?
The last time I filled up at almost empty, it was $105 dollars. That was weeks ago. I can’t imagine what that would be today.
Makes me wonder why our governor and legislature doesn’t lower/suspend our gas taxes like other states have done. That would give immediate relief. Four states have suspended gas taxes and others are in the process of doing so. Why won’t Florida do this?
Agree. I think the argument is to wait until a time when fewer tourists are here. That way, more Floridians will benefit. Not sure I understand the argument, but that’s what I have heard.