Kansas City Suffers Record-Breaking Inflation

Again, we want to remind readers of a truism we learned whilst blogging daily for YEARS at a time . . .

KANSAS CITY COPES HORRIBLY WITH ECONOMIC DOWNTURNS?!?!

Most of the financial news for this cowtown is nothing more or less than an endless series of HYPE and promotion of mediocre biz people and politicos.

And so . . .

There really aren't many outlets who understand economic news. 

We do our best to unpack what we can and we're lucky to have readers who have some knowledge of this stuff . . . But we're just a blog and what we do best is merely community journalism react & pass along info with just a bit of snark and a fair use big booty pix for context.

Fact is . . . 

KANSAS CITY AND THE NATION ARE ALREADY IN THE MIDST OF A HISTORIC RECESSION!!!

We hope that real life deet might help put the rest of the news in context. Again, this bit of emphasis is simply a reality check against the local media machines that keeps all of their best content behind paywalls.

Accordingly . . . 

Here's the money line from recent economic news . . .

"The Labor Department said Friday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April. Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by economists. "

Read more via www.TonysKansasCity.com links . . .

Kansas City consumers see rise of prices after record inflation increase

Rising prices are being felt right here in Kansas City, as inflation accelerated to 8.6% in May from 8.3% a month before.From gas to groceries, prices are soaring up."Just in the past day I've noticed it. I feel like it's at least $10 to $20 more expensive every time I go to the store," said shopper Meredith Albair.

Further reading . . .

Inflation rose 8.6% in May, highest since 1981

Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since December 1981, the Bureau of Labor Statistics reported Friday. The consumer price index, a wide-ranging measure of goods and services prices, increased even more than the 8.3% Dow Jones estimate.

'Catastrophically bad' inflation report is boosting chances of a 75-basis-point interest-rate hike next week

Friday's consumer-price index report for May - which showed the annual headline U.S. inflation rate climbing to 8.6% in May, with few signs of having peaked - is boosting the chances of a jumbo-sized rate increase by monetary-policy makers as soon as next week, and eliciting dire warnings that central bankers have completely lost control of prices.

The Dow falls nearly 800 points as inflation hits 40-year high

The Dow dropped more than 700 points on Friday morning after a key inflation report missed estimates and showed a higher-than-anticipated increase in the price of consumer goods.

Stocks crushed after inflation hits 40-year high: Nasdaq falls 3.5%, S&P 500 suffers worst week since January

U.S. stock futures struggled for direction Friday morning as investors awaited an update on inflation, which is expected to hover near a 40-year high amid elevated prices for gas, food and a variety of other goods and services. Contracts on the S&P 500 and Dow were each off by about 0.2% in pre-market trading.

Tucker Carlson: Jan. 6 hearing coverage is complicity in campaign to fool the public

Thank heaven it's Friday, mostly because it's not Thursday. Yesterday was Thursday, a day that will live in shame in the history of the American news business. Yesterday, last night, every news network in this country, but this one faithfully surrendered its entire primetime lineup to Nancy Pelosi.

Inflation is so high, even Snoop Dogg's blunt roller got a raise

Inflation is hitting everyone hard -- even Snoop Dogg.

Climate crisis is 'battering our economy' and driving inflation, new book says

Forget Ukraine, coronavirus, corporate greed and "supply chain issues", when it comes to inflation the climate crisis is the real, lasting, worry, according to a new book, and one that's only likely to get worse.

Wall St Week Ahead Dashed peak inflation hopes spell more pain for stocks and bonds

NEW YORK, June 10 (Reuters) - Blistering inflation is threatening to reignite twin declines in U.S. stocks and bonds, leaving investors with few places to hide from a Federal Reserve that appears headed for its most aggressive policy tightening in decades. Friday gave a hint of what investors may see in coming weeks.

You decide . . .