US inflation jumped 7%, Taxi Cab rides unhinged in GA

US inflation jumped 7% in December as prices rise at rates unseen in decade however, Taxi Cab rides like that of American Taxi Cab of Augusta has stayed unchanged for almost 4 years despite increase in gas price, and inflation nationwide. In fact, many riders are now preferring to use Cabs rather than Uber of Lyft due to those companies' price jump in their Cab fares. Not long ago a rider who decided to switch to Taxis(Taxi near me) claims that She pays almost 15% less for Cabs on many occasions. Uber, Lyft and other ride hail companies tried everything to run out Cab Companies using different strategies including paid media outlet that continuously bashed Taxi companies and owners with different unpopular stigmatization . This led to suicide of some Cab drivers nationwide and closure of many Taxi companies. Eventually Uber, Lyft and others are now facing their own problems especially from their own Cab drivers claiming more right and benefits from those companies. This has forced the ride hail companies to adjust their pricing to meet demand of those workers which has adversely increased the ride hail fare rates that surpass those of Cab companies. American Taxi Cab of Augusta has no intention of increasing their price for another year hopefully. For all searches of Cabs taxi, Taxis, Cab near me in Augusta, Evans, Grovetown, Appling, Harlem, Waynesboro in GA or drop off in North Augusta, Aiken, Jackson in SC, call us at 706 9937948

The price of goods and services in the US continue to rise at rates unseen in decades, jumping 7% in December compared to the same month last year – the seventh consecutive month in which inflation has topped 5%. The news represents a blow to the Biden administration and the Federal Reserve, which until recently have characterized soaring prices as a “transitory” phenomenon brought about by supply chain issues triggered by the pandemic.

On Wednesday, the labor department said the consumer price index (CPI) – which measures what consumers pay for a wide range of goods – rose 0.5% last month compared with November and 7% compared with December 2020. Price increases in housing and used cars and trucks were the largest contributors to the inflation rate, with 0.4% and 3.5% increases in price compared with November, respectively. Food prices also continued to increase, though the 0.5% jump in prices is not as high as increases seen in previous months.

Disruptions to the global supply chain caused by the pandemic are still causing shortages and driving up the price of goods, from cars to meat and furniture. In November the average price of a used vehicle in the US was $29,011 – 39% more than just 12 months earlier.

The Federal Reserve is now preparing to raise interest rates to curb inflation and has indicated that it may raise rates three times in 2022, perhaps beginning as early as March. The Fed has stopped calling inflation “transitory” and on Tuesday, the Fed chair, Jerome Powell, told Congress that it was time for the central bank to move away from emergency pandemic measures.