BREAKING: Yet another inflation gauge hits a new 40-year high, wages trail

At least the Biden administration performs consistently on the economy. Consistently bad, especially for lower-income workers, who keep watching their buying power evaporate. A new report on a key inflation index also shows inflation raging at a 40-year high.CNBC’s Jeff Cox buries the lede a bit here:
A measure that the Federal Reserve focuses on to gauge inflation rose at a robust pace in March, likely cementing the central bank’s intention to raise interest rates by half a percentage in May.
The core personal consumption expenditures price index, which measures costs that consumers pay across a wide swath of items and accounts for how behavior changes in response to market dynamics, increased 5.2% from a year ago, according to the Bureau of Economic Analysis.
That was slightly below the 5.3% reading in February, which was the highest reading since April 1983.
Yes, except consumers don’t experience “core” inflation. They experience “full” inflation, an …

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