US Consumers Face 7%+ Mortgage Rates, 4.2% Inflation as CPI Mirrors Late 1970s
American consumers are dealing with mortgage rates above 7%, inflation over 4.2%, and a 30% drop in dollar purchasing power since 2020, while CPI inflation trends resemble the late 1970s.
American consumers are facing significant economic headwinds. Mortgage rates have risen above 7%, inflation is running at over 4.2%, and the purchasing power of the US dollar has declined by approximately 30% since 2020.
The trajectory of US CPI inflation is drawing comparisons to the late 1970s, a period of high inflation and economic turmoil. The question being raised is whether history will repeat itself with similar consequences.
Source: The Kobeissi Letter