Yardeni Research President Edward Yardeni discussed what he believes Americans should expect from upcoming inflation data, warning that “it’s going to be bad news again.”
The markets veteran told ” Sunday Morning Futures ” during an exclusive interview that “lower-wage workers are the ones that are getting squeezed hardest” by the price hikes given “they have no choice, but to allocate most of their budgets” to essentials, including food, fuel and rent.
“Higher-wage workers are also getting squeezed with inflation, but they probably have more savings that they can dip into and can always cut out consumer discretionary items, which is what we’ve seen as what’s contributed to some of the recent weakness in the economy,” Yardeni continued.
The economist provided the insight three days before investors will digest the Consumer Price Index and core CPI which is expected to rise to 8.8% from 8.6% in the prior read, as tracked by Trading Economics. Yardeni Research president Edward Yardeni weighs in on what to expect from the upcoming inflation data scheduled to be released on Wednesday. (istock) Last month, it was revealed that inflation remained painfully high in May , with consumer prices hitting a new four-decade high that exacerbated a financial strain for millions of Americans.
The Labor Department said last month 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 Refinitiv economists.
The data marked the fastest pace of inflation since December 1981.
Yardeni said Sunday that he believes the “headline inflation rating,” which includes food and energy, will “be up something like 1.1%.”
“And that’s going to be over an […]
We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. If you have the means, please donate through our GivingFuel page, PayPal, or our Substack page. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!