The US CPI (Consumer Price Index) soared in June to a shocking 5.4%, clocking in significantly higher than the 4.9% which had been expected by most mainstream economists.
As The Hill reports:
Consumer prices rose 0.9 percent in June, according to data released Tuesday by the Labor Department, heating up from the previous month.
The consumer price index (CPI), a closely watched gauge of inflation, increased to an annualized rate of 5.4 percent last month amid a summer rush of economic activity. Economists expected the CPI to rise by roughly 0.5 in June, according to consensus estimates, after an increase of 0.6 percent in May.
June’s monthly increase in the CPI was the largest recorded since a 1-percent increase in June 2008. The annualized rise in inflation is the highest since another 5.4-percent increase in August 2008.
Inflation has risen steadily this year after plummeting in 2020. Prices for many goods are quickly recovering from pre-pandemic lows while others face upward pressure from supply shortages.
One of the major drivers of the massive increase was the price of used cars which rose a shocking 10.5 percent in June.
The new numbers are bad news for those on the left who have been hoping that inflation would be modest and transitory.
We ain’t seen nothing yet.
That’s what scares me.
And this jerk has only been in office 6 months !
Imagine the damage he’s gonna cause if he lasts 4 years !!!!!
Even worse, imagine who is next in line… and then next in line.
No, 5 months!!
True. The plain fact is, we’re due for a major market correction, hyper-inflation and economic collapse. These cyclical corrections usually take place under supposedly conservative administrations, but as I’ve pointed out, there are no conservatives in elective offices. America needs conservatives in Washington, but our populations have been conditioned to install people like Numb Nuts and his girlfriend to effect ‘equality’. They’ll soon realize that we’re all equally destitute, just as the Venezuelans discovered.
Bend over, hold ankles?
Did anybody NOT expect this? Democrats are intentionally crashing the economy. This is the next step after China Joe unleashed Covid-19 19 to circumvent the election. They want to call martial law to stop the 2022 Senate elections. Lie to your face Kamala is about to become President because Joe ain’t there!
They’ve already instituted Martial Law. You do know Washington was inundated with troops after the coup? They’re just not saying the “M” as an official declaration. Our government is functioning under Martial Law, and we had best learn what they’re going to do next in order to advance their authority.
Democrat Sleepy Joe Biden is economically challenged!
The demented crook is challenged in too many ways to count.
We need Biden and the EVIL Democrats and most of the Republicans out NOW, they are wolves in sheep clothing!! Very Satanic a-cult group, that’s anti American.
AOC proposed no limit to Credit Card interest Banks can charge. Federal Agencies endorsed and Congress voted to increase the new cap of 36%. Can’t wait for those 23% 30 year fixed mortgages!
“Major Inflation Metric Soars as Biden Economy Overheats”
Stumblin’s economy?? LMFAO!! This Is PRESIDENT TRUMP’s economy except PRESIDENT TRUMP’s wouldn’t have the inflation, higher taxes, gas shortages……….
Hidenbiden is so out of touch with reality, if he isn’t stopped from his destruction of our country, soon we will all be in the poor house, and our country will become a banana republic, under hidenbiden and commie harris. No laughing matter, both have to go.
My son is in his last year of high school…..this is just great. I have all the funding for college ready to go….you work hard your whole life to scrimp and scrape…..and inflation can cause havoc with your investments. All for the democrats hunger for power….they’re having problems explaining how things are going so badly in the great society in Cuba !
Ah, Socialism – Government Controled sameness and a race to the bottom of the barrel.
Inflation is the worst of all taxes and the hardest to stop. However, under Socialism a worthless currency allows for easier control as we would all be dependant on the Government – oh, except the Controlling Elites who are special.
Bide n and whoever is running this country are trying to throw away all of our assets so we will be a 3rd world country. They are working so very hard to destroy us. They must be stopped.