Inflation accelerated more than expected to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans and worsening a political crisis for President Joe Biden.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 9.1% in June from a year ago. Prices jumped 1.3% in the one-month period from May. Those figures were both far higher than the 8.8% headline figure and 1% monthly gain forecast by Refinitiv economists.
It marks the fastest pace of inflation since December 1981.
So-called core prices, which exclude more volatile measurements of food and energy, climbed 5.9% from the previous year. Core prices also rose 0.7% on a monthly basis – higher than in April and May – suggesting that underlying inflationary pressures remain strong and widespread.
Boy, this inflation sure is transitory, isn’t it? It transits right past 3, 5, 9 percent! Quickly! Remember when it was 1%? Yeah, we had that, energy independence, secure southern border, job growth, rising wages, economic opportunity, resurging manufacturing, better trade deals, stronger national security, world peace… and a mean tweet every once in a while. Oh, yeah… this is SO much better.
Liberals lie! Have lied for at least 70 years; maybe more. The “deep State” are all liberals. So…..
biden has no intention of correcting course. His direction is the destruction of America.
Elections have consequences
Stolen elections have catastrophic consequences
Which is precisely why America lovers must REMEMBER 2020!
A “Rigged Election” (quoting Mayra) is destroying America!
Actual real inflation is in double digits.
But think how great this is for people with huge debt balances–like our former president, who owes over $1 Billion. He gets to repay in devalued dollars.
It’s not good for anyone, except the Biden Crime Family, the Pelosi’s and other corrupt Democrats. Americans are suffering tremendously due to idiot Biden’s disastrous incompetence.
So it’s great for people with huge debt balances? Does that 30+ trillion national debt count as great too? With rising interest rates the affect on the interest payments on our national debt will be anything but great.
Trump spent a Billion of his own money to run for President.
Biden is the usual scum parasite that got rich off of being a politician.
Trump: what a f*cking legend.
The producer price index just came out.
11.3%. We are in the road to a depression.
The biden economic team is comprised of 62% of having never had a job in the private sector.
It is no wonder they do not know what the hell they are doing
Strong disagree. They know well what they are doing. DESTROYInG AMERICA!
US Workers Have Lost $3,400 In Annual Wages Due To Biden’s Inflation – “Crushing The Middle Class”
‘Tittering On Depression’: Steve Cortes Breaks Down Biden’s ‘Double Digit Inflation’