Consumer price inflation has been tracking a downward trajectory since peaking in May 2022 and this has remained the premise for the expectation that the Federal Reserve will pivot.
An economist, however, sees inflation continuing to remain a threat going forward.
Economist and gold bull Peter Schiff tweeted that a family lunch at McDonald's Corp.'s MCD Connecticut outlet costs over $50. His family of four ordered four burgers, two shakes, one soda, and three fries, he said.
“I expect that in a few years, the inflation tax will push the cost for a family of four to eat lunch at McDonald's above $100,” he added.
He also noted that his parents while they were dating could dine at McDonald’s for under $1.
See Also: Best Inflation Stocks
Inflation generally refers to the increase in prices as measured by consumer and producer prices. It is at times referred to as “inflation tax” as it reduces the value of money held by individuals.
Schiff has previously warned about inflation, stating that inflation is going to get worse as the Fed has already returned to quantitative easing.
Referring to the bank bailouts, he said, “The way they are bailing out all the banks is by printing new money and adding it into the economy and taking on mortgages and government debt onto their already bloated balance sheet.”
He warned that the economy is literally a house of cards and it's imploding.
Read Next: Inflation Insights: Unraveling The Impact On GBP And Equity Markets!
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