BIDENFLATION SKYROCKET$ TO 40 YEAR HIGH

The U.S. inflation rate hit a 40-year high in January, with prices rising 7.5 percent from last year, the Labor Department announced on Thursday.

It’s the highest spike in consumer goods since 1982, under the Carter administration.

Prices rose by 0.6 percent from December, signaling the months-long surge that’s been hitting Americans in the pocketbooks is not slowing down.

The latest data show drivers are still hurting at the pump, with gas prices up 40 percent from last year. Used cars are up by 40.5 percent.

Costs at the dinner table are also up. Grocery prices are up by an average 7.4 percent since January 2021 and meat is even more expensive, up 13.6 percent.

The poor economic news comes at a critical time for President Joe Biden’s administration, who’s been working to prove he can fulfill his promise of getting the country out of the pandemic and the economy under control before the November midterms later this year.

The post BIDENFLATION SKYROCKET$ TO 40 YEAR HIGH appeared first on Populist Press ©2022.