You Didn’t Need Proof That Inflation is Bad, but Here It Is
We see the effects of inflation everywhere we go: at the gas pump, at the grocery store, and when it comes to buying the gifts on our Christmas lists. But the Biden administration wants you to believe that inflation is transitory, while the administration’s willing accomplices in the media want you to believe that it’s actually good for you.
That ivory tower, “let them eat cake” mindset that we’re seeing from the White House and its environs isn’t much comfort to the everyday consumer like you and me who sees rising prices and wonders how long they’ll wreak havoc on our lives.
The latest Consumer Price Index data confirms your suspicions: inflation is everywhere.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.8 percent before seasonal adjustment.
The monthly all items seasonally adjusted increase was the result of broad increases in most component indexes, similar to last month. The indexes for gasoline, shelter, food, used cars and trucks, and new vehicles were among the larger contributors.
A nearly 7% increase over the past year doesn’t sound transitory, does it?
The increase is the fastest rise since 1982, or if you leave out the energy and food sectors, where prices are most apt to fluctuate, it’s the biggest jump in so short a time since 1991. – READ MORE
Responses