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U.S. export prices rose 2.2% in September, exceeding the Federal Reserve's stated 2% yearly inflation target in a single month.
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, described this data as evidence of worsening inflation pressures, stating that annualized, the increase could reach 30%. Schiff argued that the cost of living crisis is set to worsen.
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Schiff has recently commented on major regulatory actions, including when U.S. regulators fined Bank of America $1.2 billion for anti-money-laundering violations. He also identified investment opportunities after gold traded just under $4,000 amid a stock market decline. His recent remarks on export prices follow a series of critical assessments of economic trends.