Inflation, banished from the American economy since the 1980s, is making a comeback.
According to The New York Times, the Consumer Price Index rose 6.2 percent in October, the fastest increase since 1990. Driving the increase are rises in rents, fuel prices and tangles in the supply chain which – in turn – create scarcity that inflates cost.
President Joe Biden, visiting the Port of Baltimore, said, “Many people are unsettled about the economy and we all know why: they see higher prices.” He added that “reversing this trend is a top priority to me.”
According to the Associated Press, inflationary pressures are driving consumer costs up in Europe and South America as well. Another wrinkle in the economy is that disruptions in the supply chain have led to a shortage of new cars. That means that used car prices have risen 25 percent in the past year.
Capitol rioter sentenced to 41 months
Scott Fairlamb, convicted of assaulting a police officer during the Jan. 6 attack on the U.S Capitol, was sentenced on Wednesday to 41 months in federal prison, according to the AP. That’s the longest sentence handed down so far in the prosecution of people who took part in the riot.
Federal District Judge Royce Lamberth said that Fairlamb, who confessed to punching the officer in the face, had struck at “the heart of our democracy.”
The rioters were seeking to stop Congress from certifying the election of Joe Biden and Kamala Harris as president and vice president. President Donald Trump had made the unsupported claim that the election had been “stolen” and that he was the actual winner.
Also in the news …
- Three people injured in the incident at a Astroworld Festival concert in Houston are still in critical condition. Eight people died when the crowd surged forward, crushing and injuring many, reports United Press International.
- A surprise agreement between the U.S. and China to cooperate in battling climate change and global warming was announced on Wednesday, according to UPI.
Sports: Packers, Rodgers are fined by NFL
The National Football League has fined the Green Bay Packers $300,000 for violating league COVID-19 protocols, according to the Associated Press.
Additionally, Packer quarterback Aaron Rodgers and receiver Allen Lazard have been hit with $14,650 levies each. The league has not specified the reason for those two fines, but that amount coincides with the fine for players who are not fully vaccinated who engage in certain conduct, such as attending indoor events unmasked or refusing to wear a mask or maintain physical distancing in club facilities or during travel.
Rodgers missed Sunday’s game against the Kansas City Chiefs because he had tested positive for coronavirus.
- The football game between USC and the University of California has been rescheduled from this Saturday to Saturday, Dec. 4 because several of Cal’s players have tested positive for COVID-19.
Weather: A brief piece of summer
If you missed the sunny skies and warm temperatures of summer, you can get a rerun over the next few days. In West Orange County, Thursday’s daytime high is forecast to reach 89, with an overnight low of 63. The warm spell will peak on Friday with a high of 93 (62), and then decline to 86 on Saturday and 81 on Sunday.
For coastal Huntington Beach, there’s a small craft advisory in place. Thursday’s high there is forecast for 83 (62), rising to 88 on Friday and dropping to 82 on Saturday.
Categories: The Wider World