Don’t fall for it. Inflation hit a 40-year high in February, with the Consumer Price Index rising nearly 8 percent over last year. The White House reacted by pointing out that “Americans’ budgets are being stretched by price increases and families are starting to feel the impacts of Putin’s price hike.” Setting aside the fact…
Red-hot inflation is eroding American’s wage gains and hurting Democrats in an election year Inflation surged more than expected in January, notching another four-decade high as strong consumer demand and pandemic-related supply-chain snarls fueled rapid price gains that wiped out the benefits of rising wages for most Americans. The consumer price index rose 7.5% in…
Economists expected inflation to rise by 7% in December. Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden’s approval rating tumbling. The consumer price index rose 7% in December from a year ago, according to a new Labor…