Biden’s Chief of Staff Ron Klain calls this sort of thing a “high-class problem”. The New York Times claims it’s merely a psychological problem by the public. Everyone else just knows that Biden’s inflation is a huge problem and getting worse.
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. That compared with the 5.9% Dow Jones estimate.
The Bidenflation is hitting core necessities like food and fuel.
Food prices also showed a sizeable bounce, up 0.9% and 5.3% respectively. Within the food category, meat, poultry, fish and eggs collectively rose 1.7% for the month and 11.9% year over year.
Fuel oil prices soared 12.3% for the month, part of a 59.1% increase over the past year. Energy prices overall rose 4.8% in October and are up 30% for the 12-month period.
The media spin was that workers are making more and should shut up about rising prices. But no, they’re not. They’re making less in the Biden economy.
In a separate report, the Labor Department said real wages after inflation fell 0.5% from September to October, the product of a 0.4% increase in average hourly earnings that was more than offset by the CPI surge.
Life is worse for everyone in the Biden economy except the Big Green investors gobbling up cash from Democrat subsidies while imposing blackouts on Americans.
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