Bidenflation hasn’t peaked like some would have you believe.
Today it just surged to a 41 year high, with inflation hitting 9.1% in June.
Inflation hits another NEW 40-year high under Biden.
Overall CPI: +9.1% since last year
Gas: +59.9%
Fuel Oil: +98.5%
Meat, Poultry, & Fish: +10.4%
Milk: +16.4%
Eggs: +33.1%
Coffee: +15.8%
New Vehicles +11.4%
Airline Fares: +34.1%
Real Average Hourly Earnings: -3.6%— Jacki Kotkiewicz (@jackikotkiewicz) July 13, 2022
Here’s more from Daily Caller:
Inflation climbed 9.1% over the past 12 months, the highest year-over-year percentage increase since December 1981, the Department of Labor (DOL) announced Wednesday.
The Consumer Price Index (CPI) increased 1.3% between May and June, according to the DOL report released Wednesday. Economists had predicted that CPI would increase by 1.1% last month and 8.8% over the 12-month period ending in June.
“The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent and the other major component indexes also rising,” the DOL said in their report. “The food index rose 1.0 percent in June, as did the food at home index.”
The White House preemptively downplayed the inflation data, saying the metric was already outdated as prices have begun to supposedly decrease.
“June CPI data is already out of date because energy prices have come down substantially this month and are expected to fall further,” White House Press Secretary Karine Jean-Pierre said on Tuesday.
It is true that gas prices are down a little, with the national average being $4.631 for today. But that’s still too close to $5 for comfort.
I don’t know what the national average for diesel is in the US, but that’s really what plays into the price increases since most goods are carried in big rigs that guzzle diesel.
Either way, it’s more than clear the economy isn’t headed in the right direction by a long shot. But that’s no shock since this is all by design.