The new numbers for May on the Consumer Price Index (CPI) are now showing that inflation skyrocketed in May to 5 percent well above most analysts’ expectations. Core CPI rose to 3.8 percent, the most since 1992.
As CNBC reports:
Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday.
The consumer price index, which represents a basket including food, energy, groceries, housing costs, and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.
The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression.Used cars and truck prices continued their climb higher, rising 7.3% on the month and 29.7% for the past 12 months. The new vehicles index increased 1.6%, its biggest-single month gain since October 2009 and was up 3.3% for the 12-month period, the highest move since November 2011.
The numbers are terrible news for President Joe Biden as they reflect an economy that is heading off the rails and which may spell doom for his far-left plan to unleash an additional two trillion dollars in spending for ‘infrastructure.’
Way to GO…Pedo Joe!
didn’t think anyone could wreck Trumps economy this bad or fast. Sadly, I was wrong
what a disaster
What Joe has done is more devastating than we were informed. His EO were thorough, he was brutal. It was his every intention to ruin our economy and to devastate everything that our President Trump did, and it was done out of pure hate. And, he was told by Kamala, Obama, Valarie Jarrett, and Susan Rice, Xi from China, and let’s not forget George Soros. This is Obama’s team, all the way. And, you have to remember, dirty old Joe was Hussein Obama’s VP. They HAVE to destroy our citizens and our country to make their communist UN new world order happen. This is the communist UN’s new world order, THEIR utopia. They are salivating and rejoicing with joy.
Buckle your seat belts ladies and gentlemen, Its Going to be A turbulent ride from here to 2022, there will be Inflation, stagflation, deflation, and tears at all levels untill we can a handle on the purse strings from the Comrade Idiot In Chief, It’s going to be a wet wild and tough ride !
Fiasco after fiasco! What a disaster these 2 are and I can’t wait for the sweep in 2022!
I pray that voter fraud will be stopped, because if the republican party and the supreme court do not do their job, we will be decimated. But, they need to do it NOW, not wait for 2022. Waiting for 2022 is insane…. these incompetent tyrants need to be removed form office and tried for treason NOW.
It’s OK, Jen Psaki will tell us its not happening and CNN and MSNBC will parrot that so we are all good. Who else would you want steering the ship, an orange guy that has worked in a business and understands economics and taxes and growing an economy OR a lifelong civil servant/grifter with dementia whose son is a crackhead racist???
With a Marxist communist witch for a VP.
First one who voted for Biden and starts carping about this gets his teeth rearranged.
This is the new Democommie economy. Thanks Biden, Pelosi, and Schumer; higher taxes, more welfare, fewer employed, more bankruptcies, higher crime rate. It’s all good 👍!!! Vote Democrat and get screwed every time.
“…may spell doom for his far-left plan…” More like spelling doom for Americans. They don’t care what happens to citizens, so long as they still have control…. We are fighting back, but can only do so much.
Biden(should have been forBIDEN to be president, but powerful who care nothing about American ‘s. These powerful, very wealthy individuals want to rule the world, including the citizens of America.
He is now mumbling and bumbling and lying to the people in England. The world is laughing at us because our liberals are totally ignorant.
Imagine my surprise…
Congratulations, Democrats! You have taken Trump’s red-hot, booming economy and turned it into a disaster waiting to happen. You couldn’t have done more damage to the United States if you were Russian saboteurs.
No story here when unemployment dropped last month to the lowest level since Covid. How about a CPI of 13 1/2% in Reagan’s first year in office. Inflation was 12 1/2% that year. Put part of the blame on anyone who spent their stimulus checks. Imagine what a couple hundred thousand highly paid workers would do spending all that money they would get from infrastructure spending. We are in a weird kind of “recovery”. Covid caused shortages that drive up prices. This kind of end of the world economic story requires my tiny violin. Frankly, I think we’re better off, not from four years ago, but from just six months ago. Give the guy a break, but remember your children will be in debt and living in poverty.
That’s the dems debt future, and worse if you end up as a climate refugee.
RED Joe
No surprise for the spendthrift “Josip” who will exceed the stagflation and maybe interest rates during the rule of the Panama Canal giveaway artist “Jimmi the C”. Just cuz Josip don’t like oil we all should suffer under his Dictats that further his blind socialist views. Pass another NAFTA like “Slick Willie” so all business will tank here comrade!
What spending tons of money you don’t have is bad… damn I need to write this good stuff down… but hey this was the lan all along. Other portions of the plan include division so bad that we will never be able to get back together, to make crime legal and legal crime, to make black white and white black (get it), to indoctrinate the kids and the parents make them so self indulgent that they can indoctrinate the kids easier, they hyave shown how easy it is to get control by fear with the covid hoax and also that they can release a real biological threat and have great impact on us, but again, they didn’t even have release a great threat, they have control of the media, ig businesses, big tech, hell they have all the cards at present. so getting the US into such debt that we can never get out is a great gain for these people. Both arties have been a part of this big dog and pony show as both parties have been a part. The dems have been the lead actors and the reps have been the backups by letting the dems do what they do. OH, and we the people, have fallen many years ago too because we have not held accountable the corrupt politicians and continue to re-elect them because of words, not actions. Pretty stupid huh, oh and lazy, and self-serving until it hits you in the face, as it is now.