Posted inAT+

Worst inflation in 30 years even worse than it looks

We’ve been warning that inflation would run out of control as multi-trillion-dollar federal stimulus crashed against broken US supply chains.

So-called “core” inflation (without food and energy) has increased at an annual rate of nearly 11% during the past three months, something the US hasn’t seen since 1981.

The overall inflation rate briefly touched the 10% mark in 2005 and 2008 due to spikes in the oil price.

Bad as the headline numbers are, the actual situation is much worse.