Consumer Prices rose in 2007 at the fastest pace in 17 years
3 Comments Published by clay January 16th, 2008 in Consumer Tips, State and Local Politics, U.S. Politics.Consumer prices rose in 2007 at the fastest pace in 17 years as motorists paid a lot more for gasoline and grocery shoppers paid higher food bills. However, falling prices for clothing and new cars offset some of those gains.
The Labor Department reported that consumer prices rose by 4.1 percent for all of 2007, up sharply from a 2.5 percent increase in 2006. Both energy and food prices jumped by the largest amount since 1990.
Prices were also up sharply for health care, housing and education. However, these gains were offset somewhat by falling prices for clothing, new cars and computers.
Workers’ wages failed to keep up with the higher inflation. Average weekly earnings, after adjusting for inflation, dropped by 0.9 percent in 2007, the fourth decline in the past five years. The lagging wage gains are cited as a chief reason many workers have growing anxiety about their economic futures.
I believe that this is bad, it is not price stability, even though some things rise while others fall, it is still bad, because people won’t be able to the more expensive stuff, yes every one will have food and clothes, but what about a computer, especially in this society today. It’s like lowering car prices but rising the gas price beyond believe, it becomes point less all most to lower cost of car, because most people won’t use them, then most people won’t buy them.
this is a big problem and it needs to be dealt with soon, if we are to have a bright future.
Consumer prices rising is a big problem, especially if it has been the at the fastest pace since the last time. Wages have gone up but keeping them high enough so that we can keep up with price inflation is just terrible. The value of a dollar is dropping. Gas prices have been going up we’ve all heard the stories about why, but grocerie prices rising just adds more to the problem. America’s future is at a very unstable position right now because of the dependency of foreign products, mainly oil. Dropping car prices is the only way cars would actually sale, but it doesn’t really change the price when the gas prices keep adding up. I have no idea what to do because it would only require either lowering costs, or changing wages higher.
I think it is really sad how are dollar is starting to lose its value around the world. I mean before we used to be one of the most advanced countries in the world but know our dollar seems to be declining in value. There might be a day where we as Americans cannot keep up with our daily living expenses. An example would be during the late 1870s to the early 1880s when immigrants came to America and were not making a lot of money. Sometimes the whole family would work just to make it, but would end up somehow falling short.
This type of living might turn out to be us in a couple years if our economy does not turn around. I mean we are experiencing higher prices in food and gas. If one slight aspect is changed in our economy it could put us into even more debt. But all we have to do is hope that the candidates running for president actually helps improve the economic state of the country and not makes it worse. In my opinion though I think that it is ridiculous how much the consumer prices are increasing but I do hope that one day it will change for the better. Let’s think about it this way we got through two great depressions I think we would get through a decline in our money’s value.