#LondonCalling: Transitory inflation continues to rise from groceries to used cars. @JosephSternberg @WSJOpinion

Photo: Used car lot.

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#LondonCalling:  Transitory inflation continues to rise from groceries to used cars.  @JosephSternberg @WSJOpinion

https://www.wsj.com/articles/us-inflation-consumer-price-index-june-2021-11626125947?mod=hp_lead_pos1

Rising prices reflect robust consumer demand boosted by widespread vaccinations, the ending of many business restrictions, trillions of dollars in federal pandemic relief and ample household savings. Stronger demand also has pushed employers to seek more workers and pay higher wages, as they struggle to hire.

https://www.wsj.com/articles/global-stock-markets-dow-update-07-13-2021-11626162017

U.S. consumer prices rose 5.4% in June from a year earlier, meaning inflation remains at its highest annual rate in 13 years. Economists surveyed by The Wall Street Journal had been forecasting a 5% rise.

In early trading, JPMorgan Chase shares fell 1.4% as the bank kicked off earnings season by saying second-quarter profit more than doubled, while markets revenue fell. Goldman Sachs ticked down 0.4% after the bank reported profits that beat analysts’ expectations.