Inflation up for first time in a year in big blow to Biden

[mystery-ak]

 Inflation up for first time in a year in big blow to Biden
Inflation rose slightly to a 3.2% rate for the year ending in July, the first increase after a full year of declines.
Zachary Halaschak

Inflation rose slightly to a 3.2% rate for the year ending in July, the first increase after a full year of declines, the Bureau of Labor Statistics reported on Thursday in an update to the consumer price index.

Investors had expected a slight uptick.

MORTGAGE RATES ECLIPSE 7%, HIGHEST SINCE NOVEMBER, IN TROUBLING SIGN FOR MARKET

On a month-to-month basis, inflation was 0.2%, in line with expectations.

The Federal Reserve has been hiking interest rates for more than a year and had seen success in meaningfully bringing down inflation since the tightening cycle began in earnest last March.

The central bank’s target rate is now 5.25% to 5.50%, with the most recent rate hike, and perhaps its last, coming last month.

Meanwhile, “core inflation,” which strips out volatile food and energy prices, rose to 4.7% in the year ending in July.

more
https://www.washingtonexaminer.com/policy/economy/inflation-ticked-up-to-3-2-in-july-in-setback-for-biden-and-fed

[Wingnut]

Siri, define Bidenomics.  "Bidenomics. Telling people it's raining when they are pissing on your leg."

[libertybele]

Inflation has truly never gone down. Trying to stay afloat these days for most is having to cut back on their spending and some their way of life.  We all know the costs that have gone up with groceries, electricity, water, food, gas, and insurance. It is an insult to the American public for this administration to say that inflation is down and the economy is doing well. 

Whether they want to take responsibility or not for their economic policy failures, ILLEGAL immigration and the push for going green are both fueling the demise of this country.

[Bigun]

Inflation rose slightly to a 3.2% rate for the year ending in July...

A 3% inflation rate will steal more than one third of your life savings over ten years.

[Weird Tolkienish Figure]

A 3% inflation rate will steal more than one third of your life savings over ten years.

 

Aka the cruelest tax. It affects the poorest the hardest. I've been saying for a while that people need to be spanked voting for Democrats and now they are. Including me. :(

Personally I'm hurting.

[GtHawk]

Personally I haven't seen inflation drop, sure gas went down a bit for a while but otherwise all I saw drop in grocery store were short term loss leaders to get you in and buy other stuff. I also don't believe Jack Scheisse that comes out of any democrat administration especially not the three Obama/Biden administrations!

[LMAO]

A 3% inflation rate will steal more than one third of your life savings over ten years.

Yep

And the roots of it is out of control government spending and the resulting debt and deficits

THIS HAS TO STOP!!!

All serious GOP candidates running need to make this issue front and center. We know the Democrat party won’t.

[catfish1957]

I challenge anyone to show me one valid large sector of our economy that is only 3% more expensive than a year ago.

The Fed, and Treasury, and Pedo Joe's inner circle jerk  are becoming experts on lying and fudging numbers.

[catfish1957]

Yep

And the roots of it is out of control government spending and the resulting debt and deficits

THIS HAS TO STOP!!!

All serious GOP candidates running need to make this issue front and center. We know the Democrat party won’t.

The last GOP POTUS ran up the deficit higher and faster than his 44 predecessors. Don't lookd to our feckless GOP for change.

[Bigun]

Yep

And the roots of it is out of control government spending and the resulting debt and deficits

THIS HAS TO STOP!!!

Which could not happen without a fiat currency and the federal reserve banks.