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WLTW - Inflation Update: You Know It's Real When The Politicians Admit It
Willis Towers Watson Public Limited Company
CPI increased 6.2% in October, the fifth straight month over 5% and the highest rate in 30 years.
Even excluding food and energy, core CPI increased 4.6%.
Inflation was broad, 80% of CPI subcomponents were above 2%, again the highest in 30 years.
Wholesale prices rose even faster last month.
After months of dismissing inflation as transitory or a "high class problem", politicians are finally admitting the impact on many Americans. Too late?