Inflation hits 7.9%

The United States Department of Labor reported yesterday that consumer prices rose 0.8 percent in February and 7.9 percent over the last 12 months. The consumer price index (CPI), the key gauge of inflation, showed price growth speeding up on both a monthly and annual basis. The all-item index rising almost 8% annually is the…

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On Economic Front: Inflation & Jobs Up

Consumer prices grew much faster than expected in October, according to data released this week by the U.S. Department of Labor (DOL). The consumer price index (CPI) rose 0.9 percent last month and was 6.2 percent higher that it was in October 2020, the largest annual increase in 30 years! Generally speaking, analysts were expecting…

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Miscellaneous

Starbucks Shareholders yesterday rejected an eye-popping executive compensation proposal for the C-Suite that included a $1.86 million payout for CEO Kevin Johnson as a performance bonus for fiscal year 2020 along with $50M in “retention pay” if the CEO were to stick around with the company through fiscal year 2022! Although the rejected resolution was…

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Economic Observations

The U.S. Bureau of Labor Statistics (BLS) last week reported that average hourly earnings increased 0.4 percent from November to December 2020. The increase stems from an increase of 0.8 percent in hourly earnings coupled with a 0.4 percent rise in the Consumer Price Index (CPI). Year over year, average hourly earnings increased 3.7 percent…

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Miscellaneous

Earlier this month, the U.S. Bureau of Labor Statistics reported that average hourly earnings for all employees actually increased 0.1 percent from September to October 2020. Notwithstanding ongoing challenges from the coronavirus pandemic and its recent spikes, real average hourly earnings year over year increased 3.2 percent from October 2019 to October 2020. The Consumer…

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July Economic Volatility

Just about halfway through life with the coronavirus, there was a mix of good and bad results coming to us last month. On the positive end of the spectrum, the U.S. Commerce Department reports that retail sales at restaurants jumped by 5 percent last month – easily outpacing the 1.2 percent growth experienced by the…

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