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Inflation has officially hit 3.7% in September.
Which, I mean, that's a really uncomfortable acceleration-
Totally
... is we were sitting at, what, 3.4% in August?
Mm-hmm.
And I think the broader economic consensus was only really bracing for maybe 3.6%.
Yeah.
So hitting 3.7% is, well, it's a genuine jolt to the system, and the moment you look under the hood at the specific drivers, you know, the structural problems just become very obvious.
Okay, so let's unpack those drivers then because the underlying details paint a pretty stark picture of where our money is actually going right now.
Yeah, they do.
Like, core inflation, which, you know, strips out those bouncy, volatile categories like food and energy, that's up 2.6%.
Right.
But energy itself, gas surged an absolutely massive 9.1% in a single month.
Oh, wow.
Yeah.
It's huge.
It really is.
And I think the real gut punch for anyone listening today is that average hourly earnings actually fell by 0.5%.
Which is rough.
Yeah.
We are mathematically losing ground against our own daily expenses.
The human translation of that data is that, you know, the average worker is literally earning less purchasing power per hour than they were a year ago.
Exactly.
We're now looking at the sixth straight month of year-over-year declines in real earnings, and the mechanism causing this is directly tied to, well, global instability.
Right, 'cause of the geopolitics.
Inflation has officially hit 3.7% in September.
Which, I mean, that's a really uncomfortable acceleration-
Totally
... is we were sitting at, what, 3.4% in August?
Mm-hmm.
And I think the broader economic consensus was only really bracing for maybe 3.6%.
Yeah.
So hitting 3.7% is, well, it's a genuine jolt to the system, and the moment you look under the hood at the specific drivers, you know, the structural problems just become very obvious.
Okay, so let's unpack those drivers then because the underlying details paint a pretty stark picture of where our money is actually going right now.
Yeah, they do.
Like, core inflation, which, you know, strips out those bouncy, volatile categories like food and energy, that's up 2.6%.
Right.
But energy itself, gas surged an absolutely massive 9.1% in a single month.
Oh, wow.
Yeah.
It's huge.
It really is.
And I think the real gut punch for anyone listening today is that average hourly earnings actually fell by 0.5%.
Which is rough.
Yeah.
We are mathematically losing ground against our own daily expenses.
The human translation of that data is that, you know, the average worker is literally earning less purchasing power per hour than they were a year ago.
Exactly.
We're now looking at the sixth straight month of year-over-year declines in real earnings, and the mechanism causing this is directly tied to, well, global instability.
Right, 'cause of the geopolitics.
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