Inflation, which essentially means high cost and low buying power continue to surge last month, with prices rising at the fastest pacing in more than 30 years. And it comes as companies struggle with a logjam supply chain and nation-wide labor shortages. The Labor Department’s consumer price index jumped by more than 6% in October from last year. It’s actually the fifth straight month in which inflation surged more than 5% year over year. Americans are now paying more for shelter, food, fuel and medical care, cars and trucks, and many other goods and services. Now much of this is blamed on the pandemic, and adding to the problem, car continuing to rise at a faster pace than hourly earnings. As Americans pay more pretty much everywhere, all eyes on Mr. B and what could be his presidency’s biggest economic problem. US stocks closed lower today, reacting to those concerning inflation numbers.

President B today touted his infrastructure bill at the port of Baltimore, but acknowledge a major concern for Americans, costs are rising. The congested supply chain has helped drive prices up. The infrastructure bill includes 17 billion dollars to revitalize coastal inland and land ports. But it’s unclear how that could immediately help the massive backlog at west coast ports, where 81 container ships sat waiting to unload goods this week. Congestion has slowed deliveries and trigger worries about holiday shopping.