The latest Consumer Price Index (CPI) data for March shows that inflation continued its upward trend with a 1.2 percent increase since last month and an 8.5 percent increase over the last year according to the Bureau of Labor Statistics. Inflation in the United States has not been this high since December 1981.
As the BLS release notes, inflation’s continued surge is being driven by rising costs for shelter, food, and gas. Even when CPI is measured without gas and food — eliminating the fuel variable Biden and Democrats have sought to blame on Putin’s invasion of Ukraine — year-over-year inflation rose 6.5 percent, the biggest increase since August 1982. The White House’s spin that the American economy is doing better despite its attempts to blame Putin just isn’t borne out in the data.
” …A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” Rev. 6:6
8:30 AM · Apr 12, 2022Twitter Web App
The energy index in March was up 32 percent in the last year while the food index increased 8.8 percent, the largest year-over-year increase since May 1981.
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