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Inflation fear sinks in on Twitter users after consumer price index rises yet again

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The U.S. Consumer Price Index (CPI) for August dropped Tuesday and it immediately caused a stir. Prices for all items went up an average of 0.3% that month alone. This is a slight decrease from July, which saw an increase of 0.5%.

First, Producer prices rose 0.7% in August, which was less than the 1% increase the month before. Economists were anticipating a 0.6% gain. Yet, it was still the fastest annual pace on record for the fifth consecutive month. As a result, “inflation” began trending on Twitter Tuesday, with over 300,000 tweets at the time of this report.

Deputy Spokesman for House Minority Leader Kevin McCarthy (R-CA), Chad Gilmartin, called more attention to the CPI. In a tweet Tuesday, he blamed Biden and his economic plan.

“Americans are paying (literally) for Biden’s failed leadership,” Gilmartin tweeted. “And now Democrats want to spend $3.5 TRILLION on a liberal wish list.”

Rep. Elise Stefanik (R-NY) jumped on the trend. “Inflation is a tax on EVERY American,” Stefanik tweeted Monday.

A Twitter account behind Pomp Investments took the report as an opportunity to advertise its services. “The most vulnerable in society are being crushed by rising costs, while asset owners get richer,” the tweet read. “Don’t complain about it. Start investing.”

Over the past year, CPI increased 5.3% overall since the last 12 months. However, some items increased by much more. For instance, gasoline is up 42.7% from last August. As a result, the energy index also increased by 2% since last month, and has been on the rise for the last three months. Similarly, used cars rose to 31.9% since last year.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Economy

VIDEO: Thousands of packages looted as thieves rob L.A. bound trains

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The lawlessness of California continues to manifest itself in very visible ways. Videos are emerging on social media showing huge amounts of trash, and in particular, UPS boxes and amazon packages that were en route to residential addresses.

The trash is piling up jut next to the train tracks, where CBS Los Angeles reports train burglaries are on the rise. “There’s loot3ed packages as far as the eye can see. Amazon packages, @UPS boxes, unused Covid tests, fishing lures, epi pens. Cargo containers left busted open on trains” tweeted John Schreiber.

Schreiber added, “I’m told by law enforcement these @UPS bags are especially sought after by thieves opening cargo containers…they are often full of boxes with merchandise bound for residential addresses. More valuable than say, a cargo container full of low value bulky items like toilet paper.”

Schreiber’s multiple videos posted to Twitter show the absolute disgust resulting from the thievery. “As you can see, trains frequently slow or stop in this area as they get worked into the @UnionPacific Intermodal facility near Downtown LA. The thieves use this opportunity to break open containers and take what’s inside, I’d say every 4th or 5th rail car had opened containers.

In another tweet with more photos of damaged property, Schreiber writes, “missing a package? Shipment delayed? Maybe your package is among the thousands we found discarded among the tracks. This is but one area thieves have targeted trains. We were told this area was just cleaned up 30 days ago so what you see is all within the last month. @CBSLA.”

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