Around the Bay Area, prices are rising faster than they have in a generation, data released Thursday from the U.S. Bureau of Labor Statistics shows.
The Consumer Price Index was up 5.2 percent in February compared with a year ago for the combined area consisting of San Francisco, Marin, Alameda, Contra Costa and San Mateo counties.
The last time prices rose that quick was in June 2001, when prices rose at a 6.6 percent pace, according to BLS data.
Over the past two months, prices are up 1.4 percent. Prices for shelter and food drove overall prices higher, BLS data show.
Nationwide, consumer prices are up 7.9 percent over the past year, the quickest pace since January 1982. Prices in the western region of the U.S. were up 8.1 percent year-over-year in February.
Who predicted this? Hmmm, I can’t seem to remember… Oh yah, Trump.
ps. told you so
Biden is crushing American oil while buying from Venezuela and Iran. But it’s all for a good cause. He simply wants to back the efforts of his globalist friends who are busy “saving the planet.”
American Thinker: https://bit.ly/3MIxH5J
Be thankful. Biden is making in-roads worldwide. Do your part. Learn to ride an electric bike. And don’t forget to stockpile flour, rice, and canned food.
Joe’s first day in office set this inflation in motion.
Inflation now, then depression, then a crash.
The democrats will then have the best solution to get us out of the economic disaster they put us in.
+1
And how do you explain the rest of the world going through the same thing? Funny how you don’t look at the bigger picture and false blame others.
@ Haha
If I may be so bold, may I suggest any bood written by
Milton Friedman, the Father of Economic Freedom
… ok here’s a start… I remember when ….. gas was 19 cents / gal in 1970 when we had gas stations practically on every corner and “gas wars”
all government is theft & they’ve got pleanty of ways to steal (inflation the hidden tax, ‘it’s Putin’s fault’ for rising gas prices, it’s Trump for everything wrong) ….
to them, we are ants in the afterbirth.
Ewwww!
That was disgusting KM!
And I’m the guy who removed a stuck sideways Gumby Doll from the pooper of 300 lb. truck driver today!
Ants?……. in the…oh geez! … Ewwww!
Let’s go Brandon!!!
Let’s go Brandon!!
It’s all Biden’s fault!
He, idiot Harris and all the democrats have ruined the country in one year. Their policies have also endangered world Peace! How are we going to make it through three more years? I hope we, our country, and even our world can endure it.
Thanks to Biden the economy is booming. Just look at all of the profits companies are making, especially the oil companies. The oil companies are making record profits. Expect more companies to raise their prices and profits because of the oil companies using the “we buy gas too” excuse. .
@Badge-not all biden. In addition to his orders leading to limited supply of oil, increasing the cost of everything, and plug’s ineffective activities to address supply chain issues (though plenty of that falls on good ole newsom), congress has seen fit to fecklessly introduce several trillion dollars into the economy. There are tons of monopoly money floating around, decreasing the value of the dollar, increasing the cost of everything. As far as world peace, biden is about a weak-appearing world “leader” as has ever been seen. You are correct, it is going to be a rough 3 years, because even if republicans take the House/Senate, they are not a tremendous improvement; still led by McCarthy/McConnell (aka milquetoast/corrupt).
Doh
That is about the largest steaming pile of simplistic manure I’ve read in a while. You cannot artificially introduce $5 trillion dollars into the US economy through “stimulus” packages and not expect there to be inflation.
The Government has provided more disposable unearned income to allow a larger portion of the population to purchase more goods and services that they normally would not have be able to afford. The problem is there is a finite amount of goods and services available. When the supply is low, the price goes up. When it happens in enough sectors you get inflation. Basic supply-side economics.
Biden’s economy is booming because you are coming out of 2 years of a lockdown economy and handing out $5 trillion. You could be the president and get the same results but it will not last. At some point economists are going to start calling this hyper-inflation and the Fed will substantially raise interest rates to slow the economy and decrease the ever raising inflation rate.
By the time 2024 rolls around Biden will have high interest rates, in the teens I predict, with a zero to negative grown US economy to run on. You will not be so smug then.
Doh – the “economy is booming?”
Wow! A perfect example of democrats not having a clue….about anything.
The highest rate of inflation in 40 years and you say the economy is “booming.”
Moron!
If you haven’t figured it out Doh is trolling you.
Darwin….. I don’t think so.
Doh is the real McCoy, a 21%er.
Even the other die hard Libs don’t converse with him, he’s an embarrassment that just keeps on posting… I say, ”
let him!”
The fact remains, companies are making profits and oil companies are setting records.
You know that oil is used for things other than making gasoline.
“A mere 46 percent of oil is used to make gasoline, while the rest goes to help make a variety of other useful products.
Various cleaning products, some rubber, tons of cosmetics, many lubricants and most of the world’s asphalt. Virtually all plastic, and every product made from or containing plastic, ultimately comes from oil. Out of every 42-gallon barrel of oil, 22.6 gallons is used to make products other than gasoline”.
https://tinyurl.com/ms7rbx92
@Doh,
The oil companies make less than a dime on each gallon of gas. The state of California makes 35 cents. You’re being gouged, but it’s not by who you think.
Yes Captain Obvious I mean Doh, virtually every business is making profit but do you understand why?
Do you grasp that this inflation number is from February and has nothing thing to do with Ukraine being invaded? This inflation is a direct result of last years massive redistribution of wealth via Biden’s economic stimulus plans.
You reap what you sow. You dump a massive amount of unearned money into the economy and you get massive amount of inflation IN ALL SECTORS.
Not seen in over 20 years? We knew this crap was hitting the fan when the prices at the restaurant first went up months ago.
It is suspicious that such gross incompetence is real and instead maybe this is their plan for reducing the federal debt by making dollars worthless. Zimbabwe did that. Wait till you find a trip to Safeway costs you a million dollars and all you got was milk and a pre-cooked chicken.
You know Lactose free milk lasts about 1 month in the fridge?
It’s worth it.
I’m actually getting tired of tell people “I told you so”. I’m sick of people acting surprised by any of the crap going on. What did you think was gonna happen? We all lived through the obama presidency. This is worse.
Biden cannot blame Putin’s invasion of Ukraine for the 7.9% inflation rate because the figure is based on the trailing 12 months – BEFORE Putin invaded Ukraine.
First Biden called it “transitory”. Then he blamed the supply chain woes. Then Biden blamed “greedy corporations”. Today he blamed Putin. ALL LIES.
Don’t be fooled by the fool in the Oval Office.
BIDEN AND HIS POLICIES ARE TO BLAME.
.
+1
+2
+3!
It’s so interesting to me that anyone with children (who actually care about them) could have voted for Joe Biden. Anyone with an absolutely rudimentary education could see this disaster coming. Yet here we are.
The only silver lining is that now climate change is suddenly irrelevant and can be seen for the political tool that it is. “Tool” being the operative word.
Hits the Bay Area? It’s hitting the entire nation.
Joe ‘The buck doesn’t stop here’ Biden has had zero accountability during his multi-decade feckless politician career. That’s why it’s all Putin’s fault, it’s all the oil companies fault, it’s all big meat processing companies fault, it’s all Trumps fault….
I have often said I’m not the sharpest tack on this board, but I would hope our political representatives have the ability to see beyond the obvious. In other words, things change dramatically but we should have the ability to keep pace and stay ahead of our adversaries. It seems to me we only play catch up anymore.
biden’s presidency has another 1,046 days to go !!
C’mon Man, . . . how much worse can it get ? ? ?
Let’s just hope that the gas shortage/high price and the recession will not be as bad as when Ronald Reagan was President. Also hope that the bottom will not fall out of the housing market and that there will not be an even worse recession dumped on us than there was at the end of Bush’s presidency.
Over past generations, circumstances have been MUCH WORSE than they are now. (Change your own shopping/driving/home energy and water consumption habits … just for some suggestions.) Still, if YOU are in a position to stop corporations (especially food, prescription, and gasoline corporations) from profit-taking during this time, go for it!
As long as land, labor, and lumber continue to be expensive, the bottom will not fall out of the housing market.
When interest rates go up and growth grinds to a halt we’ll have a few years of stagflation.
Typical Dem response.
“Yeah, it’s pretty bad, but look on the bright side it could be worse. Its not our fault, it’s actually your fault. You need to give us more power and money to fix the problems we created.”
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The housing market is guaranteed fall. The days of virtually zero interest rates are coming to an end. There in no other way to deal with inflation. The Fed is going to have to raise interest rates and that will have a direct economic impact on the housing market.
More houses being available will cause home prices to fall. People had better view their house as their home and not as an investment because the value they paid is not going to be fair market value next year. A lot of people are going to find themselves upside down.
How come you don’t blame Biden for corporations making a profit? This a direct result of his stimulus packages. Isn’t that what the Democrats wanted? To get the economy rolling? To make a profit?
All you muthah suckahs who voted for Team Sleepy Joe have zero cause to complain … #toldya #makeyourbedandsleepinit
+1 ..same for those that voted against the Newsom recall
If you studied inflation you would know presidents typically don’t have control over it. Now you could argue over who appointed the fed chair.
@Schmee-partially correct. first, a snarky comment, I doubt biden has control of anything other than the flavor of pudding he’ll eat during the early bird meal hour….ok, got that out of my system.
biden’s day 1 energy orders immediately increased the cost of energy. biden did sign all the feckless bills throwing trillions of play money into the economy. One could even state that because biden comes off as excessively weak, unless you are a normal American citizen asking him a question he does not like (suddenly he becomes a “tough guy”), there was no deterrent for putin to make this move. Now, can biden control/reverse his weakness? doubt it.
Presidents may not control inflation, but they always get blamed for it. Kind of like the way the Dems blamed everything on Trump.
Lets Go Brandon.
Red wave coming.
Presidents don’t typically declare war on fossil fuels, shut down pipelines and spend trillions of dollars so freely that they can’t print money fast enough either!
Biden is not “typical”.
Those who study inflation would point out Biden is cheering on huge government spending packages leading to the largest debts in the history of Western civilization. Debt and the spending leads to inflation. Also Fed Chairman Powell, who is not an economist by the way, is being pressured by the people he owes his job to, Janet Yellen and Biden (or his handlers) to inflate. Also, as far as presidents not having an impact, refer to an incident very widely reported from the 1960s: ” … mentions the time President Lyndon Johnson summoned then-Fed Chairman William McChesney Martin to Johnson’s Texas ranch where Johnson shoved him against the wall. Physically assaulting the Fed chairman is probably a greater threat to Federal Reserve independence than questioning the Fed’s policies on Twitter.”
https://mises.org/wire/when-lbj-assaulted-fed-chairman
Don’t worry Joe ‘The buck doesn’t stop here’ Biden says the staggering inflation is transitory, and that prices will go back down.
OKFine, . . .
We’ll all shelter in place for a few weeks and rising inflation will flatten out.
It worked for covid.
Oh, wait,
https://tinyurl.com/yvajkmzm
Great comment OG.
Here is how the whole world is in this mess. The U.S. printed a lot of money and put it into the economy as stimulus to get the folks thru the pandemic. Other countries did the same. Now we have way to much money chasing way to few goods and services. Therefore we have inflation.
There you go Schmee, now you know.
I did that !
Sure it’s all Biden’s fault we have world wide inflation. Nothing to do with covid, or the reopening, nothing to do with industry’s inability to respond, China’s shutdown, oil prices, chip shortages. It’s just easier to point fingers and hope you can get your man back in there and his golden water will trickle down on you.
@fred it’s actually the governments fault all of this happening. Government response caused the problems we’re facing. The virus didn’t just shut down a business by itself and hold the doors closed, people did that by either fear or forced compliance by the gang we call government.
Governments caused the problem and then doubling down on stupid is what’s causing them to get blamed over and over.
If they stopped doubling down maybe they’d stop getting people angry at them it’s pretty simple.
“It wasn’t Biden’s fault” …., just like everything wasn’t Trump’s fault for anything during the previous 4 years.
It’s genetically impossible for democrats to take responsibility; they’re ALWAYS looking to blame others. Slow joe, Harris the ho, pigliosi and shifty schiff…
Fred,
Look into how record high energy and fuel prices influence most everything we buy(and a multitude of other things), look into when the current skyrocketing inflation began, and look into who is responsible for the USA now not being energy and fuel independent.
Oil companies are making twice the money pumping half the oil, they have no intention of changing. Besides Biden has issued more drilling permits than T**** ever did.
All by design. Look up Klaus Schwab and The Great Reset.
+1 DB: A must read!! It all started way back with Woodrow Wilson and the beginning of the “Progressive Movement”. It has been developing ever since .And, the “Covid Crisis” has been the perfect tool to help get the “Reset” farther along the way. WE ARE SO DOOMED!
I would like to see an interview with the four Germans that snickered when Trump told a conference that the Germans would become dependent on Russia and that they would be compromised. Trump was golden again. However the left used that to say the Europeans were laughing at Trump. Trump also predicted in the campaign that if Biden was elected gas would go to 6, 7, or 8 dollars a gallon.
How do homes continue to sell over asking by hundreds of thousands of dollars.
Does the President list the homes for sale and tell you to over bid by $400,000?
Didn’t think so.
@JJ They sell because they’re being bought up by corporations with billions in cash and rich foreign nationals with cash and rich Americans with cash all competing against each other so they buy above asking so they can get the property before their competitor?
The middle class has been decimated while the rich grew richer so now the rich are buying the homes to use as rental income pricing former middle class Americans out of the market?
That make sense? Or you gonna continue being oblivious?
A large percent of homes are now being snapped up by institutional investors like BlackRock who are taking advantage of the very low interest rates available to them from the government’s policy. Another issue is the artificial fiscal stimulus from the huge federal deficits. There’s more, but I did like your visual of Biden as a real estate huckster since he claims his hobby is buying mansions. I walk the dog, but Lunchbucket Joe buys mansions. Its kind of the same.
Corporations buying all the homes?
Readjust your tinfoil hats. The last five people who told me they bought a home were classmates who were looking to buy a home. And I don’t ask people how they afford what they buy. None of my business.
JJ clearly has no friends. If he did the possibility of knowing a real estate agent would be pretty high. All you would need to do is ask. But you don’t know anyone in the business so you drop ignorant posts about things you know nothing about.
What happened to our promised by Biden, FREE MEDICAL CARE FOR ALL?
What a demented liar. If his beady eyes get any smaller, he won’t ever be able to see the light!
@aunt Barbara’s
Don’t forget Biden’s going to cure cancer too
Most US government politicians(especially the democrats) are pathological liars, who thrive in a world of zero accountability.
We can thank our Main Stream Media (and social media) for rolling out a political narrative (using advanced game theory) to create division and social upheaval. “Inflation” is just being used to create more FEAR and “distraction” so we can we continue to pay for our own liquidation – unabated. Elites have to “set the scene” to encourage us to unquestionably burn our own lives to the ground – so they can “Build Back Better” (DAVOS style (where we will “own NOTHING and be happy”)). Good Times.
“Broke Back Better”, the Biden administration plan to remove an individuals wealth through their backside.