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.