Inflation Shakes Nation by the Scruff of the Neck as Rate Hits 8.2% in September

Everyone’s fed up with inflation, but it’s not going anywhere anytime soon.

Just as signs of breathing room started to shake down at the end of Summer, inflation grabbed the country by the scruff and gave us all a hard shake.

September inflation reached a staggering 8.2%. While it’s down slightly from August’s 8.3%, it’s not the sign of reversal that so many are hoping for.

The consumer price index for September rose by 0.4% compared to August’s 0.1%.

The Federal Reserve has instituted 3 in a row 0.75% rate hikes to try to slow it, but they may have moved too slow to catch things before they spiraled out of control. Mortgage rates are at 7%, the highest in nearly two decades, and prices on houses and rentals are likely to come down soon. Whether or not consumer goods follow a price drop remains to be seen.

Experts suggest that at least a few more months of distressingly high food and consumable prices are expected.

The conflict between Russia and Ukraine complicates recovery efforts, along with a shortage of workers.

Many experts suggest a recession will materialize in the US in the next 6 to 9 months – dashing hopes of a natural deflation.