Inflation rises to 8.5% in March, highest in more than four decades

[mystery-ak]

Inflation rises to 8.5% in March, highest in more than four decades
by Zachary Halaschak, Economics Reporter |
 | April 12, 2022 08:30 AM

Consumer prices increased 8.5% in the 12 months ending in March, a number that is sure to fuel consumer anxiety and erode support for President Joe Biden's agenda.

The much-anticipated numbers reported by the Bureau of Labor Statistics on Tuesday revealed the extent of the inflation that has afflicted the United States during its recovery from the coronavirus pandemic. The pace of inflation is the highest it has been since December 1981.

Inflation has increased greatly over the last several months and has eaten into Biden’s approval ratings. Consumer prices have increased progressively every month since last August, making staples like food costlier for consumers.

High inflation has also hamstrung Biden’s desire to pass his ambitious spending agenda because some centrist lawmakers have said they are uncomfortable pumping more money into the economy during a time of such overheating.

more
https://www.washingtonexaminer.com/policy/economy/inflation-rises-to-8-5-in-march-highest-in-more-than-four-decades

[catfish1957]

Note to Briefers...  Seems the 2X factor is the rule of thumb when truly quantifying Bidenflation.  On an earlier thread, I estimated 14-18%

No one with a straight face can honestly say things have only gone up annualized the past 12 months by <10%..  No one is buying that lie

[Right_in_Virginia]

Jack Posobiec
@JackPosobiec

HOLY SHLIT! US inflation just hit 8.5% - the highest since the 70s-80s. Blows out anything from the war on terror

8:42 AM · Apr 12, 2022·Twitter for iPhone

[Right_in_Virginia]

Jack Posobiec
@JackPosobiec

If this is what they’re *admitting* imagine how bad the real numbers are

8:43 AM · Apr 12, 2022·Twitter for iPhone

[Right_in_Virginia]

Note to Briefers...  Seems the 2X factor is the rule of thumb when truly quantifying Bidenflation.  On an earlier thread, I estimated 14-18%

No one with a straight face can honestly say things have only gone up annualized the past 12 months by <10%..  No one is buying that lie

 

[LMAO]

I feel especially bad for retirees and new families starting out in life

[mystery-ak]

BREAKING: Inflation Rockets up to 8.5 Percent in March While Biden Claims It Is Putin's Fault
By Duke | Apr 12, 2022 8:45 AM ET

https://twitter.com/PITraders/status/1513857687309545475

more
https://redstate.com/tladuke/2022/04/12/breaking-inflation-rockets-up-to-8-5-percent-in-march-while-biden-claims-it-is-putins-fault-n549121

[Right_in_Virginia]

Another month of surging prices and lower wages under Biden.

Overall CPI: +8.5% since last year
Gas: +48%
Electricity: +11.1%
Meat, Poultry, & Fish: +13.8%
Milk: +13.3%
Eggs: +11.2%
Bread: +7.1%
Coffee: +11.2%
Used Cars: +35.3%
Car & Truck Rentals: +23.4%
Airline Fares: +23.6%— Jacki Kotkiewicz (@jackikotkiewicz) April 12, 2022[/uote]

[Right_in_Virginia]

BREAKING: Inflation Rockets up to 8.5 Percent in March While Biden Claims It Is Putin's Fault
By Duke | Apr 12, 2022 8:45 AM ET

more
https://redstate.com/tladuke/2022/04/12/breaking-inflation-rockets-up-to-8-5-percent-in-march-while-biden-claims-it-is-putins-fault-n549121

[catfish1957]

Another month of surging prices and lower wages under Biden.

Overall CPI: +8.5% since last year
Gas: +48%
Electricity: +11.1%
Meat, Poultry, & Fish: +13.8%
Milk: +13.3%
Eggs: +11.2%
Bread: +7.1%
Coffee: +11.2%
Used Cars: +35.3%
Car & Truck Rentals: +23.4%
Airline Fares: +23.6%— Jacki Kotkiewicz (@jackikotkiewicz) April 12, 2022

I know that is just a slice and snap shot of peripheral goods and services , but the math just intensifies the lies, when you fill in the details.

[DefiantMassRINO]

What's the Biden administration's response?  To double down on inflationary policies from both the supply side and the demand side.

[mountaineer]

Note to Briefers...  Seems the 2X factor is the rule of thumb when truly quantifying Bidenflation.  On an earlier thread, I estimated 14-18%

No one with a straight face can honestly say things have only gone up annualized the past 12 months by <10%..  No one is buying that lie

On every trip to the supermarket in the past few weeks, I've calculated that prices of many items - especially meat and produce - are up at least 25-33% over just a few months ago.

[mountaineer]

zerohedge
@zerohedge
PutInflation in context

9:00 AM · Apr 12, 2022·

Biden really needs to stop blaming Putin for inflation that clearly began several months before the invasion of Urkaine.

[mystery-ak]

Heather Long
@byHeatherLong
·
1h
Inflation is more than a story of gas prices...

Groceries +10% --> biggest spike since 1981
Meat/poultry/fish +13.8% ->biggest since 1979
New cars 12.6%->biggest ever
Electricity +11.1% -> biggest since '06
Home furnishing 10.8% ->biggest ever
Rent 5.1% ->largest since 1991

[mystery-ak]

Joel Fischer 🇺🇸
@realJoelFischer
·
32m
UPDATE🔥🔥

Trump Inflation: 1.8%
Biden Inflation: 8.5%

Trump Gas Prices: $1.84
Biden Gas Prices: $4.53

[mystery-ak]

https://twitter.com/CurtisHouck/status/1513891230790344714

[mystery-ak]

Bidenflation — American Families Face Steeply Higher Food Prices: Beef, Bacon, Coffee, Cereal, Milk, Baby Food

Jacob Bliss 12 Apr 2022

American families had a more challenging time putting food on the kitchen table in March as everyday food prices continued to surge — with no end in sight — while inflation soared. The kitchen table itself even got more expensive.

The overall food prices rose 8.8 percent compared to a year ago, data from the Department of Labor showed on Tuesday. In fact, the data also showed that inflation climbed to the biggest year-over-year increase since December 1981, as the consumer price index rose 8.5 percent in March compared to a year ago.

While inflation is on the rise and with no end in sight, the Biden administration and the Democrat-led Congress continue to spend. They are looking to push another spending bill worth over a trillion dollars.

Home furniture prices are up 15.8 percent compared with last year and have risen 0.6 percent since last month. Prices for the category of “living room, kitchen, and dining room” furniture are up an eye-popping 16.8 percent compared with a year ago.

Here are some of the most striking moves in food prices.

    Ground beef: up 13.8 percent.
    Steaks: up 16.4 percent.
    Bacon: up 18.2 percent.
    Pork chops: up 13.8 percent.
    Chicken: up 13.4 percent.
    Fresh fish: up 11.3 percent
    Fresh whole milk: up 14.5 percent.
    Coffee: up 11.2 percent.
    Fresh fruit: up 10.1 percent.
    Lettuce: up 12.0 percent.
    Salad dressing: up 13.9 percent.
    Soups: up 10.3 percent.
    Baby food: up 10.8 percent.
    Breakfast cereal: up 9.2 percent.
    Bread: 7.1 percent.
    Biscuits and muffins: up 10.8 percent.
    Lunch meats: up 12.7 percent.

Eating out is not much of a better option. Fast food prices are up 7.2 percent, and full-service restaurant prices are up 8.0 percent. Even vending machine prices are up 5.5 percent.

https://www.breitbart.com/economy/2022/04/12/bidenflation-american-families-face-steeply-higher-food-prices/

[catfish1957]

zerohedge
@zerohedge
PutInflation in context

9:00 AM · Apr 12, 2022·

Biden really needs to stop blaming Putin for inflation that clearly began several months before the invasion of Urkaine.

The first domino was the killing the XL pipeline, and starting that daisy chain of rapid fire down the line increases of prices of everything.
Rather than infusing sanity, and at least trying to make course corrections, Pedo Joe has thrown gas into this dumpser fire of an economy.

Honestly, I an hearing maybe the most doom and gloom I have heard in my lifetime.  I am seeing some very reputable economist like David Stockman saying an epic market correction is in the cards.  OTOH, there are several  on the hyper-inflation train. Lately I am 60/40 on the latter.   I am also thinking we are 90/10 that one of the two will happen.  This house of cards can't last forever.

[mystery-ak]

Nolte: Biden Caused Inflation. Biden Could Cure Inflation. Biden Refuses.

John Nolte 12 Apr 2022

His Fraudulency Joe Biden caused inflation. Of course, he did. The charts embedded below — Trump vs. Biden — are not a coincidence. Joe Biden got into office and deliberately did three things to cause inflation. First, he flooded our economy with trillions and trillions of dollars. It was all fake money, and as we all know, the more you have of something, the less it’s worth. And so, the price of everything exploded to the highest levels in 41 years.

excerpt:
The second thing Biden did to cause inflation was doing nothing. For the better part of a year, he lied to us about how inflation was transitory when everyone knew it wasn’t.

Biden’s most crippling move was number three: he strangled what had been a thriving American energy sector under Trump. The more expensive energy is, the more expensive everything is. Why? Because energy is required to build, power, ship, and store everything.

What does this mean?

more
https://www.breitbart.com/economy/2022/04/12/nolte-biden-caused-inflation-biden-could-cure-inflation-biden-refuses/

[Right_in_Virginia]

Glenn Greenwald
@ggreenwald

As a reminder:

WSJ, Jan. 12, 2022 (six weeks before Russian invasion):

U.S. Inflation Hit 7% in December, Fastest Pace Since 1982

Consumer price rise exceeded 6% year over year for third straight month

https://t.co/AhM9eYEAhg

8:57 AM · Apr 12, 2022   Twitter Web App

[Right_in_Virginia]

"Biden Admin’s senior advisor for communications for the National Economic Council says that you are “fully in lockstep” with Vladimir Putin if you place blame for inflation on Biden.'

https://mobile.twitter.com/JerryDunleavy/status/1513885468450037771

[Right_in_Virginia]

Glenn Greenwald
@ggreenwald

Democrats blamed their 2016 loss on Putin and Russia. Democrats under Trump blamed social unrest and distrust of them and their media outlets on Putin and Russia. And now Democrats and their media allies will blame this extraordinary development on Putin and Russia.

TheStreet
@TheStreet· 7h

Inflation surges to 8.5%, highest in 40 years

8:55 AM · Apr 12, 2022  Twitter Web App