We are seeing more news about rising inflation,  but in reality the US data isn’t as bad as the news coverage would lead us to believe.  The following table shows the data of seasonally adjusted price changes by month published by the US Bureau of Labor Statistics.


Food prices are continuing to rise at about the same rate each month with a total rise of 5% for the last 12 months.  Current shortages of fertilizer and the herbicide glyphosate (which we import from China) could result in additional price increases through next year.  Much of the increase in meat and processed food.  We can save money on our food budget buying in bulk, particularly dried beans and grains.  Learning to cook vegetarian and vegan meals can also save money on food bills.

Not surprisingly, the largest jump in October prices was energy, largely a reflection of the energy crisis in UK and China.  The crisis is spreading and we may yet see additional oil and gas prices rising this winter if temperatures are colder than normal.  US energy prices are far lower than what Europe and Asia currently face.  We should also remember that at the start of the pandemic shut down energy prices plummeted and much of the current increase is making up for it.

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