Biden inflation continues to rise. The average American family sees it and feels it.
Earlier this morning an analyst on CNN warned again about inflation in areas that impact household costs. Greg McBride, Chief Financial Analyst at Bankrate.com shared:
Household budgets have really been stretched, strained and broken over the course of the past couple of years because of the consistent increases in prices. But because it’s also been most pronounced in those categories that are necessities.
“It’s gonna be difficult to feel too good about where inflation is going,” says @BankrateGreg ahead of the Labor Department’s release of Consumer Price Index report. pic.twitter.com/fsBW94YnkM
— CNN Early Start (@EarlyStart) February 14, 2023
And today’s results were exactly what McBride warned about. Inflation as measured by the CPI is up by .5% in January.
This is disappointing as analysts were projecting a lower rate.
The cost of items that affect families the most are way up under Biden. Americans are seeing it in their grocery bills and when dining out. There’s no hiding it.
CNBC reported moments ago:
Inflation turned higher to start 2023, as rising shelter, gas and fuel prices took their toll on consumers, the Labor Department reported Tuesday.
The consumer price index, which measures a broad basket of common goods and services, rose 0.5% in January, which translated to an annual gain of 6.4%. Economists surveyed by Dow Jones had been looking for respective increases of 0.4% and 6.2%.
Excluding volatile food and energy, core CPI increased 0.4% monthly and 5.6% from a year ago, against respective estimates of 0.3% and 5.5%.
The post BIDEN ECONOMY: Inflation Up 6.4% – Higher than Expected – “Household Budgets…Stressed, Strained and Broken” appeared first on The Gateway Pundit.