June 2008 Inflation Numbers

Here are some stats for the June 2008 inflation numbers:

Consumer Price Index:

  • up 1.1% in June ’08
  • up 0.6% in May ’08
  • predictions were for a 0.7% increase

Over the last year the Price Index is up 5.0%

  • this level isn’t seen since 1993

Core CPI (doesn’t include energy and food price increases):

  • rose 0.3%
  • predictions were for a rise of 0.2%
  • the 12 month rise is 2.4%

Specific areas of inflation:

  • Energy – 6.6% (including the 10.1% for gasoline)
  • Fruits and Vegetables – 2.8%
  • Dairy – 1.6%
  • Grocery overall – 6.1% for the month and 10.4% year over year

Hourly wage is up 3.4% year over year. So Americans are seeing their buying power diminish.

The cost of gasoline has an immersion effect on the price of everything else because very little is solely produced locally.
Hourly wage is up 3.4% year over year. So Americans are seeing their buying power diminish.
The rebound from the recession in the early 2000s was considered a wageless recovery because much of the benefits of the rebound was poored into dividends or executive pay. This potentially fueled the housing bubble.

About benleeson
My name is Ben Leeson. I currently work for a large financial company in IT. I went to school at Marist College in Poughkeepsie, NY. I graduated with a B.S. in Business Administration concentrating in HR. Professor William Brown taught me and I enjoyed his classes; even acquiring an appreciation for just about all things HR. I didn’t pursue a job in that field after college but I’ve kept up with it. This blog will further my fascination with all things HR. I hope to grow my knowledge of the area through thoughtful writings and spirited feedback. I will attempt to have a fairly routine style so anyone reading can come to expect certain segments. Please excuse my incorrect grammar and occasional misspelling.

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