Photo by Gage Skidmore

The CPI (Consumer Price Index) hit 7 percent in December, according to the latest report. Putting it on track to be the hottest inflation reading since 1982.

As CNBC reports:

Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday.

The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%.

Economists surveyed by Dow Jones had been expecting the measure to increase 7% on an annual basis and 0.4% from November.

The annual move was the fastest increase since June 1982.

Inflation has turned into a major crisis for President Joe Biden and his administration who seem to have found no way to dampen the monthly increases.


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paul
paul
8 days ago

Crisis , what crisis- let the morons pay.

Sincerely
Brandon

Bryan Dorfmeyer
Bryan Dorfmeyer
7 days ago

Everything that comes out of his mouth is a lie incompetent idiot my dog could do better job

Dan
Dan
7 days ago

Does your dog lie on command too?

Dan
Dan
7 days ago

Democrats promise to fix the economy if we let them operate the elections.

RRRoger
RRRoger
7 days ago
Reply to  Dan

They have already done everything they can to “fix the economy” for the worst.
Only the Establishment Elite and a few of their employees are getting richer while the rest of us are getting porer.

Nate
Nate
4 days ago
Reply to  RRRoger

One more “O” required in poorer!

Jawad
Jawad
6 days ago
Reply to  Dan

Welcome to socialism, where every comrade is equal, except that Party members are much more equal than all the others, and all the others are equally miserable.