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Originally posted by 1972Shocker
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Consumer Prices Make Biggest Jump Since 1982
The U.S. Consumer Price Index (CPI) measuring inflation for American consumers rose 0.6 percent, more than then 0.4 percent increase that was predicted by economists who believed the CPI would moderate in the first month of 2022. Year over year, inflation spiked 7.5 percent — the biggest jump since the year...1982.
According to the Labor Department's release accompanying the data, "Increases in the indexes for food, electricity, and shelter were the largest contributors" to January's forecast-busting numbers. Broken down by specific sectors, the CPI showed significant year-over-year increases for energy (27%), used cars and trucks (40.5%), and gasoline (40%).
The January inflation numbers are further repudiation of two claims made by the Biden administration. First, it debunks the White House narrative from last summer that inflation being felt by Americans was "temporary" or "transitory." As any American filling their car up with gas, paying utility bills, or checking out at the grocery store can tell you, price increases have been anything but temporary.
Second, President Biden and the rest of his administration have continually repeated the claim that "Nobody making under 400,000 bucks would have their taxes raised, period, bingo," yet inflation has proven to be a tax on all Americans. Both realities are made even more stark when statistical increases in employment and earned wages evaporate when it comes to Americans' buying power thanks to inflation that's now burning hotter than it has in 40 years.
In my opinion, things are going according to plan for the Democrat party and the radical left. Perhaps even better than they had anticipated it would.
The U.S. Consumer Price Index (CPI) measuring inflation for American consumers rose 0.6 percent, more than then 0.4 percent increase that was predicted by economists who believed the CPI would moderate in the first month of 2022. Year over year, inflation spiked 7.5 percent — the biggest jump since the year...1982.
According to the Labor Department's release accompanying the data, "Increases in the indexes for food, electricity, and shelter were the largest contributors" to January's forecast-busting numbers. Broken down by specific sectors, the CPI showed significant year-over-year increases for energy (27%), used cars and trucks (40.5%), and gasoline (40%).
The January inflation numbers are further repudiation of two claims made by the Biden administration. First, it debunks the White House narrative from last summer that inflation being felt by Americans was "temporary" or "transitory." As any American filling their car up with gas, paying utility bills, or checking out at the grocery store can tell you, price increases have been anything but temporary.
Second, President Biden and the rest of his administration have continually repeated the claim that "Nobody making under 400,000 bucks would have their taxes raised, period, bingo," yet inflation has proven to be a tax on all Americans. Both realities are made even more stark when statistical increases in employment and earned wages evaporate when it comes to Americans' buying power thanks to inflation that's now burning hotter than it has in 40 years.
In my opinion, things are going according to plan for the Democrat party and the radical left. Perhaps even better than they had anticipated it would.
Rising Food Prices according to Wells Fargo:
Super Bowl Parties up 14%
Chicken Wings up 26%
Steak up 23%
Shrimp up 22%
Pork up 7%
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