A new report today from the Consumer Price Index (CPI) revealed a slight drop from the catastrophic numbers provided the month prior – but that doesn’t mean the effects from inflation are set to wear off anytime soon.
The report showed a slight drop from 8.5 percent in March to 8.3 percent for April, though prices continued to rise by 0.3 percent for the month, according to the report. That said, while some analysts suspect we could be at or near the “inflation peak,” high prices are still expected over the course of the summer, particularly with housing and gas.
Plus, with the ongoing war between Ukraine and Russia overseas, there is a good chance prices surrounding both energy and food could continue to stay high – which could mean a costly summer for some citizens, thanks to an increase in air conditioning and keeping the car fueled for the summer.
Speaking with us now about the subject is Devlyn Steele of Augusta Precious Metals. As Augusta’s on-staff economist and director of education, he has observations that could help us understand where inflation could be headed in the future.
Q&A
1. Even with the possibility we could be at or near the “inflation peak,” it seems Americans seem could be in for an expensive summer between high gas and energy costs. What do you think will have to happen before they see relief from all this?
2. What do you think the biggest factors may be when it comes to these price increases? President Biden thinks that the Ukraine/Russia war is a factor, but could there be something else?
3. Certain food items seem to be particularly expensive and hard to find right now, and that’s likely to continue over the next few months. Does economic theory say this condition may be rooted in supply shocks, “regular” inflation or something else?
4. If prices stay high over the course of the summer, how might it impact those with IRAs and 401(k)s? Could it help to consider alternative assets that are fundamentally uncorrelated with other assets?
5. In your capacity as director of education at Augusta Precious Metals, you’ve talked about the role of gold and silver as potential hedging assets. Do you believe such assets could be important now given the persistence of the inflation we’re seeing? And why?
6. Where can we learn more about Augusta Precious Metals?
a. Those interested can visit http://www.augustapreciousmetals.com.
About Devlyn Steele:
Devlyn Steele began in 1983 as a financial analyst for Butler Aviation and went on to work for UPS and People’s Express Airlines. As his career has progressed, he’s been an analyst in various industries, from finance, manufacturing, and technology to venture capital and more. He has sat on the boards of several Silicon Valley and technology companies and still does.
He is a member of the Harvard School of Business analytics program and predicted the housing crash in 2008 and the rise in gold and silver that followed.
Devlyn is an avid investor in all markets: real estate, stocks, gold and silver, and cryptocurrencies, and is a gold bull.
Devlyn is the director of education for Augusta Precious Metals. His focus as an analyst is primarily on Federal Reserve policies that can affect the dollar and precious metals.
CONTACT: To schedule an interview with Devlyn Steele, email jerry.specialguests@gmail.com.
500 topics for interviews: https://SpecialGuests.com/guests-topics/
