Good morning. It is Friday, November 11th today is Veterans Day and to all of those people who have the courage to put on a uniform for our country. We say thank you.

It is six minutes after 10. He's Rob Kendall. My name is Casey Daniels and let's talk about inflation and the CPI. Of course, the consumer price index came out for October and it was at 7.7%.

Consumer prices continue to climb. It is 0.4% higher than a month ago and core prices were 0.3% higher than September up 6.3% from a year earlier.

So when you see these numbers, so collectively, if you took it all, things are 7.7% higher than they were a year before.

Which blows my mind that in our society, there are people who are doing a victory lap. Like the stock market shot up over the fact that things are 7.7% more than a year before.

Why are we celebrating that? Why is that? I mean, this is all we've come to expect from government that if it's just not catastrophically, as catastrophically bad as it was the month before.

That we do a victory lap. What is going on here? The average person's wages are not going up 7.7% or anywhere close to it unless you're getting so security or a member of the Brownsburg Town Council who gave themselves a $5,000 raise despite doing a terrible job.

Yeah, and the index for food consumption at home is up even higher than 7.7%. It's at 12.4%.

So we're celebrating that. Now let's talk about the reality, though, which is the two things that most of, well, two of the three things that most affect people are housing prices and food prices.

And when you, the 7.7 is collective everything and food and housing are much higher than that. I don't, I mean, the rent stuff is what they call it.

They refer to it as shelter. They don't call it rent because it could be rent. It could be your mortgage, whatever. The rent stuff is totally out of control and really squeezing people.

And yet for some reason, again, we're doing victory laps when gas, energy, and food are more than 7.7%.

Okay, so you mentioned energy. The energy index increased 1.8% over the month. Of course, gasoline, electricity index on the rise and the fed keeps raising interest rates to try and stop this inflation 75 basis points.

And that has put the average 30 year fixed rate on home loans at more than doubled from 3.2% to 7.5%.

I was talking to a realtor friend this morning and he was telling me about how much his personal business has indeed slowed down because of these interest rate hikes.

And the Karin John Pierre, who is the esteemed spokesperson for the White House, was asked about the 7.7% rise, which no one should be celebrating, which no one should be excited about.

You're still your buying power is being evaporated, maybe not as much as the month before, but it still is. And she says Biden basically has absolutely no plan to deal with any of this.

And just on the CPI statement this morning from the president, most of the increase that we saw in inflation last month was due to rising cost for shelter.

President Biden stated mentioned that what is the administration doing to contain the rapid run-up events right now of shelter and specifically.

So I don't have anything right now to share with you on that specific piece of the data.

So let me clarify you want to talk about shelter. Yeah, I've got nothing. So here's an example in Indianapolis for an 800 and 79 foot square foot apartment, which is small one bedroom average cost is $1200 a month.

It is and for the elderly are senior citizens out there, I mean the fixed income people now again, thankfully, I guess for them, they're getting a massive so security increase.

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