The Rising Cost of Living, Inflation, & Is Donald Trump a Political Prisoner? Swamp The Vote!

Introduction:
Welcome to another episode of JPCE Spiritual Talk. I'm Jared Campbell, and today, we're delving into a topic that impacts all of us – inflation and the current economic landscape in Oregon and the United States. This episode is inspired by a tearful moment from my morning reflection on the porch. I observed a family living out of their car, parked across from our house all night. This heartbreaking scene made me reflect on the financial struggles of all and motivated me to explore our current economic situation's underlying causes and effects.

Main Segment: Understanding Inflation and the Current Economy
According to the April 2024 Consumer Price Index (CPI) data from the Bureau of Labor Statistics, the Joint Economic Committee (JEC) State Inflation Tracker highlights inflation's significant impact on Oregon households. Each household spends $964 more monthly than in January 2021 to purchase the same goods and services, resulting in a staggering cumulative additional expenditure of $21,449 per household since January 2021.

https://www.jec.senate.gov/public/vendor/_accounts/JEC-R/inflation-reports/Oregon%20Inflation%20Report.pdf

Let's break down these increased costs across four key spending categories:
1. Food: Monthly food expenses have risen by $134, an increase of $22 from last year, totaling an extra $3,135 since January 2021.
2. Shelter: Monthly shelter expenses have increased by $208, up $64 from last year, resulting in a cumulative additional cost of $3,758.
3. Energy: Monthly energy costs have increased by $137, an increase of $32 from last year, amounting to an extra $3,948.
4. Transportation: Monthly transportation costs have surged by $258, up $58 from last year, totaling an additional $7,029 since January 2021.
These figures show how inflation affects everyday life, forcing families to stretch their monthly budgets.
The Consumer Price Index (CPI) is a critical tool that tracks the average price change paid by urban consumers for a market basket of goods and services over time. This data is essential for understanding the real impact of inflation on our daily lives.
Recent data from the CPI shows:
• The CPI rose by 0.3% in April 2024 and 3.4% over the past year, indicating that prices are 3.4% higher on average than a year ago.
• The index for all items, excluding food and energy, increased by 0.3% in April and 3.6% over the past year.
•
https://www.bls.gov/cpi/home.htm

These increases underscore the significant effect of inflation on consumer prices, leading to higher costs for goods and services.
Additionally, the average rate for a 30-year fixed mortgage in the United States decreased slightly to 6.99% as of June 6, down from 7.03% the previous week. Despite this minor decline, the rate remains high compared to 6.71% during the same period last year. Sam Khater, Chief Economist at Freddie Mac, attributed the decline to data indicating slower economic growth and predicted a modest rate decrease throughout 2024. Khater advised potential homebuyers that while waiting for lower rates might yield small savings, shopping around for the best rate is crucial.

In the job market, job openings declined by 296,000 from the previous month to 8.059 million in April 2024, the lowest level since February 2021. This decrease highlights challenges in various sectors, particularly health care, social assistance, and state and local government education.
Furthermore, U.S. private businesses added 152,000 workers to their payrolls in May 2024, the lowest in four months and well below forecasts. Job gains and pay growth are slowing, with notable weaknesses tied to producers and consumers.

Mortgage applications in the U.S. also dropped by 5.2% in the last week of May, extending a decline from the previous week. Concerns over elevated mortgage rates and their impact on borrowing costs have influenced this trend.

https://tradingeconomics.com/stream?i=economy

https://www.jec.senate.gov/public/vendor/_accounts/JEC-R/inflation-reports/Oregon%20Inflation%20Report.pdf

https://www.bls.gov/cpi/home.htm

https://www.msn.com/en-us/news/politics/trump-team-embraces-early-voting-and-mail-in-ballots-in-swamp-the-vote-initiative/ar-BB1nDxGB

Link to Complete Write-Up:
https://www.howiseeit.info/post/the-rising-cost-of-living-inflation-is-donald-trump-a-political-prisoner-swamp-the-vote
In Christ, love Jared W. Campbell

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