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Inflation rose slightly month-over-month in November after hitting a 40-year high this year, but for the Democrats and Lib Journos, that’s still a win.
As Americans are tightening their belts and looking to cut costs this Christmas, the White House and Regime Media are downplaying that costs rose again in November.
The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.1% in November from the previous month. Prices climbed 7.1% on an annual basis.
Those figures were both lower than the 7.3% headline figure and 0.3% monthly increase forecast by Refinitiv economists, a potentially reassuring sign for the Federal Reserve as it tries to tame runaway inflation with a series of aggressive interest rate hikes. It marked the slowest annual inflation rate since December 2021.
In another sign that suggests underlying inflationary pressures in the economy are starting to slow, core prices – which strip out the more volatile measurements of food and energy – climbed 0.2% in November from the previous month, down from 0.3% in October. From the same time last year, core prices jumped 6%.
Economists anticipated that core prices would climb 0.3% on a monthly basis and 6.1% from the previous year.
Source: Fox Business
To be fair to the out-of-touch Democrat politicians and the hacks in the Media, the inflation rate was projected to be a tad higher than it ended up being. Still, there’s no reason to be fist-bumping that it’s continuing when the White House had insisted 17 months ago that inflation was going to be “transitory.”
Last year at this time, the President said that inflation was at its peak.
Democrats have zero credibility on inflation.
This time last year President Biden said we were at the "peak of the [inflation] crisis" but inflation surged ahead at 7% or more every month since: pic.twitter.com/AamHQWQceJ
— Senate Republican Communications Center (@SRCC) December 13, 2022
As usual, Biden was wrong.
Fox Business posted this chart to show just how bad things are:
But all of a sudden, we’re supposed to cheer that inflation is “moderating” at only 0.1% instead of 0.3% month-over-month.
The President and the Regime Media are patting themselves on the back because Biden’s economic plan is “working” because inflation is only at 7.1% year-over-year… as though that’s something to celebrate.
Look at that chart again and see if “just” 7.1% inflation in one year is something worth celebrating.
This morning, we received another reason to be optimistic going into the new year.
We learned that last month inflation came down more than experts expected – the fifth month in a row that annual inflation has fallen in the United States.
— President Biden (@POTUS) December 13, 2022
— MSNBC (@MSNBC) December 13, 2022
Biden is a known liar. The ease with which he lies is almost impressive. Frankly, it’s probably the most impressive thing about him which is quite a statement.
Here he is standing in front of a camera telling you that wages have gone up more than prices have gone up and expecting you to believe that.
Biden: “Wages have gone up more than prices have gone up.”
Under Biden, real wages have fallen at the fastest pace in 40 years. They’ve fallen year-over-year ever since Biden passed his 1.9 trillion “stimulus.” pic.twitter.com/7wnRIbT6g1
— RNC Research (@RNCResearch) December 13, 2022
The Biden Family Business must be booming now that Joe is in the White House and Hunter is selling his “art” with a price tag higher than some pieces by Picasso, so perhaps Joe just isn’t aware that not everyone has managed to secure a lucrative grift by using their troubled, sex and drug-addicted adult son as the bag man for the family influence-peddling business.
The dutiful Regime Media is doing its job by calling the continued inflation “easing”…
US consumer inflation eased to 7.1% over past 12 months. See the latest numbers. https://t.co/ykDXvORoAQ
— Richmond Times-Dispatch (@RTDNEWS) December 13, 2022
From the article:
Inflation in the United States slowed again last month in the latest sign that price increases are gradually cooling despite the pressures they continue to inflict on American households.
Consumer prices rose 7.1% in November from a year ago, the government said Tuesday. That was down from 7.7% in October and a recent peak of 9.1% in June. It was the fifth straight slowdown.
On a month-to-month basis, the consumer price index rose just 0.1% in November, down from 0.4% in October.
Even with last month’s further easing of inflation, the Federal Reserve plans to keep raising interest rates. On Wednesday, the Fed is set to boost its benchmark rate for a seventh time this year, a move that will further raise borrowing costs for consumers and businesses. Economists have warned that in continuing to tighten credit to fight inflation, the Fed is likely to cause a recession next year.
What they’re not telling you is that the inflation has been moderated because the Biden administration has been tapping into the Strategic Petroleum Reserve to help lower gas prices and ease inflation.
The administration did the same thing last year.
What happens, do you think, when they stop doing that? The price of gas goes up again.
They’re putting their thumbs on the scales with Band-aid fixes to make it not look as bad as it actually is.
They’re peeing on your leg and telling you it’s raining.
Most normal people realize that their salaries haven’t kept pace with inflation. Did you get a raise higher than 7.1% this year? If you did, congrats! That’s not what most people have managed to negotiate this year.
There’s also the uncomfortable truth that costs have gone up dramatically and are hitting Americans very hard. The costs also compound.
So, how does that “ease” look to the average consumer? Not very “eased”, actually.
Hourly wages are actually down.
Another month of uncomfortably high inflation.
Overall CPI: +7.1% y/y
Fuel Oil: +65.7%
Baby Food: +10.9%
Airline Fares: +36%
Real Average Hourly Earnings: -1.9%
— Jacki Kotkiewicz (@jackikotkiewicz) December 13, 2022
Treasury Secretary Janet Yellen said recently that the “transitory” inflation she was talking about in 2021 is going to go on until the end of 2023.
Biden Treasury Secretary Janet Yellen — who spent more than a year dismissing inflation as "transitory" — now claims inflation will subside "by the end of NEXT year." pic.twitter.com/mam45SHVUA
— RNC Research (@RNCResearch) December 12, 2022
That’s a little unsettling since she’s been wrong on inflation pretty much since she took the job.
Biden and his administration have been lying about inflation since the very beginning. pic.twitter.com/Ff35ttHuPS
— RNC Research (@RNCResearch) December 12, 2022
These clowns are running things for the next two years and if the GOP doesn’t get its crap together, it could be even longer than that.
Biden sure knows how to run the country… it’s just like riding a bike for him.
Check out our homage to Biden’s ability to run the country in the ClashDaily store…