Headlines

US Inflation Persists in September

Higher prices on food, rent blamed on supply chain issues.

Published

2 years ago

October 19, 2021

INSTORE Staff

U.S. consumer prices were up in September with the consumer price index rising 0.4 percent last month after increasing 0.3 percent in August, according to Reuters. Federal Reserve Chair Jerome Powell, who blames supply chain issues, has called the inflation “transitory.”

Sung Won Sohn, professor of finance and economics at Loyola Marymount University, disagrees: “Inflation is no longer ‘transitory.’ Supply-chain bottlenecks are getting worse. The logjam is unlikely to ease anytime soon despite the latest intervention by the White House.”

Food prices in particular rose sharply, increasing 0.9 percent due to higher meat costs in September after gaining 0.4 percent in the month before. Rents rose as well, increasing 0.4 percent – their biggest gain in five years.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”