Inflation in the United States has soared past economist expectations – hitting a troubling 9.1%, marking the highest rate since 1981.
According to the Department of Labor, the Consumer Price Index (CPI) rose 1.3 percent from the month prior.
Economists had expected CPI to rise at an annual rate of 8.8 percent, up from 8.6 percent in May. They expected a month-over-month increase of 1.1 percent.
Americans have been ravaged by inflation under President Joe Biden, with prices for everyday necessities like food, gasoline, housing, transportation, and utilities seeing significant increases.
Even when removing food and fuel prices from the equation, inflation still managed to surpass economists’ expectations.
This was the 13th straight month of inflation running higher than five percent, meaning this year’s price increases are building on top of the decades high increases of last year.
President Joe Biden misled Americans once again by claiming that the new inflation high was “outdated.”
Acknowledging that the inflation reading was “unacceptably high,” he deflected by asserting that the data are “also out-of-date.”
“Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices,” he said in a statement, noting that gas prices have fallen by $0.40 since June.
“Those savings are providing important breathing room for American families,” the president claimed, ignoring the fact that with the national average at $4.63 per gallon, the cost of gas remains nearly double the $2.38 average from just before he became president.
Biden assured the nation that “tackling inflation” is his “top priority.”
“Inflation is our most pressing economic challenge,” he continued. “It is hitting almost every country in the world. It is little comfort to Americans to know that inflation is also high in Europe, and higher in many countries there than in America. But it is a reminder that all major economies are battling this COVID-related challenge, made worse by Putin’s unconscionable aggression.”
Biden has attempted to write off soaring inflation as a “Putin Price Hike” refusing to accept any blame. The President has also claimed that inflation is “worse everywhere” than in the United States — even though the United Kingdom, Germany, Canada, South Korea, and Japan are all seeing lower rates of inflation, according to data from the Organization for Economic Cooperation and Development (OECD).
Meanwhile, the United States has certainly not cut back on the outlandish spending which fueled inflation. The United States government, in combination with the World Bank, are sending a combined $1.7 billion in assistance to the Ukrainian government in an effort to “support health care workers.”
The U.S. government has sent more than $7 billion total since the war began in February, according to the AP.
Treasury Secretary Janet Yellen, who has also brushed off the seriousness of inflation in America, said in a statement that this new round of aid “will help Ukraine’s democratic government provide essential services for the people of Ukraine.”
Trying to come up with the best set of lies. They’re Democrats so it won’t be hard!
When has a damm Democrap EVER TOLD THE TRUTH
Democrap, fantastic analogy! Hope you don’t mind, I intend to use your coined phrase. It certainly fits, telling exactly what they are about!
Biden and the wealthy elites in our government have a reality problem. They have no concept of the real world. They live in a protected bubble of riches and luxury. I would love to have them put in a situation where they had to live in a real world, with the finances everyday citizens have. No massive wealth to fall back on, for at least 6 months.
If we had an impartial justice system, Biden and his crime family would all be in jail. His only accomplishment is selling out his own country and violating his constitutional oath to protect the American people from the onslaught at the border. He also oversaw spying on the Trump campaign along with hilary and hussein obama. Any Republican would be in jail for even thinking about spying on a demorat.
The demigods, oh ah Democrats think, because they control certain sectors, that they are immune from the law! Being able to sabotage the electorial system, tell blatant lies about Trump ( one of the best presidents the United States has ever had )-lies that were actually true about Democrats, and shoe horn in and incompetent puppet shows this! They think they’re above the law and so far it seems to appear that they are right!
Typical Biden and his administration Bullshit – lying through their teeth and thinking the American people are too stupid to know and see the truth. Plus that moron Biden is blaming everyone under the sun for his screwups which fueled all this and he never takes ANY responsibility — it is always someone else’s fault.
Why not make Biden give up his salary for the last two years? And his pension fund? Since he still can’t HONOR THE OATH HE SWORN TO DO! He should NOT GET PAY BY TAXPAYERS! Never should any of his STAFF ESPECIALLY MAYORKAS, AND GARLAND!
crap can demorats
I don’t think they actually let him makes decisions But whom ever is is stupid or anti american.