Inflation Rose 8.3% From a Year Ago in April, Remains at 40-Year High
I didn’t realize Putin’s Price Hike or whatever the Democrats call it began in 2021.
Do not ever forget that these people told us inflation is transitory. Every month I seem to write “40-year high” when the Labor Department releases the Consumer Price Index (CPI).
The Labor Department didn’t even sugar coat it with the announcement: CPI for all items rises 0.3% in April; shelter, food, airfare indexes rise
Everything went up except for inflation-adjusted earnings. Those went down 2.6% the past year because of the rising cost of living.
Real weekly earnings (inflation adjusted) have been negative during 81% of Biden's presidency pic.twitter.com/PL6CDGko71
— zerohedge (@zerohedge) May 11, 2022
The Biden administration will concentrate on the fact that inflation, the core-price index, which does not count without food and energy, decreased in April from March on a 12-month basis. It went from 6.5% in March to 6.2% in April.
However, they won’t mention that the core-price index increased in April 2022 by 0.6% compared to March 2022’s 0.3% increase.
Biden’s people will likely point out that the overall CPI in April 2022 increased by 0.3% compared to March 2022’s increase of 1.2%
Except, once again, everything went up while inflation-adjusted earnings went down.
CPI 0.3% MoM; Exp. 0.2%
CPI 8.3% YoY, Exp. 8.1%CPI Core 0.6%, Exp. 0.4%
CPI Core 6.2% Y/Y, Exp. 6.0%— zerohedge (@zerohedge) May 11, 2022
– Shelter inflation +5.14% in April, up from 5.00% in March
– Rent inflation +4.82% in April, up from 4.44% in March
– Both highest since 1991. pic.twitter.com/PHc0ynNKl3— zerohedge (@zerohedge) May 11, 2022
The food at home index rose 10.8% over the last 12 months, the largest 12-month increase since the period ending November 1980
— zerohedge (@zerohedge) May 11, 2022
The index for full service meals rose 8.7 percent over the last 12 months, the largest 12-month increase since the inception of the index in 1997
— zerohedge (@zerohedge) May 11, 2022
CPI composition pic.twitter.com/6xwwzZ8tgX
— zerohedge (@zerohedge) May 11, 2022
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Comments
Biden:
Yeah, but it’s transitory and inflation a good thing anyway.
What? Oh, it’s 2022?
Putin’s and Ultra MAGA’s fault.
That darn Putin! He is ruining our country and there’s nothing we can do about it—-on the other hand, we can afford to give 40 billion to Ukraine.
“There’s nothing we could do about it,”
https://www.youtube.com/watch?v=CSUBDbalp3w
I like Goodfellas.
My grocery bills are sky high. I need more Biden I did that stickers.
The problem is, Biden is so confused he doesn’t know which way is up.
If everything that I buy has gone up 20%, exactly what has gone down in price to balance that. I get the feeling there is a lot of apples and oranges being compared here.
Nothing has gone down.
The dollar.
The Ruble v USD exchange rate went down from 131/ 1 to 69/ 1 which is a better rate than pre invasion so there’s that….the amount of diesel fuel available in the mid Atlantic and northeast went down as well…. Biden approval numbers are down …..will those work or do we need more?
Just in case anyone doubted the pedophile-in-chief’s ability to fail even harder.
Local News readers seem to emphasize that inflation is down from 8..5%. Lots of spin.