BIDEN ECONOMY: Inflation Still at 40-Year High, Core Prices Increase on a Monthly Basis in December, Wages Down 21 Months in a Row
The report on inflation was released this morning by the BLS and it shows the price of goods in December is 6.5% greater than the price of goods a year ago.
The BLS released its monthly results for inflation and the results were still terrible.
Core prices increased 0.3% on a monthly basis in December, after growing 0.2% in November, as overall prices rose by 6.5% year-over-year, matching investor expectations as energy and gas prices declined, according to Bureau of Labor Statistics (BLS) data released Thursday.
Overall, prices declined by 0.1% on a monthly basis in December, while “core prices,” a measure that discounts food and energy prices, climbed 5.7% year-over-year, matching investor expectations, the BLS reported in its monthly Consumer Price Index (CPI). After two back-to-back inflation readings that were lower than investor expectations in October and November, investors had hoped the Federal Reserve would further slow its pace of aggressive interest rate hikes designed to blunt inflation, MarketWatch reported.
Earlier this year, The Gateway Pundit reported on the inflation rate in September and compared the 8.2% to the last 40 years of inflation. 6.5% is still greater than any period since the early 1980s.
Since Biden took power, inflation has sky rocketed.
Zerohedge reports on today’s news as follows:
This is not good news for hard-working Americans.