Staff Reports
In a startling turn of events, the Consumer Price Index (CPI) has once again decided to flex its muscles and ruin everyone’s day. According to the Bureau of Labor Statistics (or as the liberals call it, the “BLS”), the CPI rose a whopping 3.2 percent in July compared to last year. Talk about a real bummer!
But wait, it gets worse. CNBC, the beacon of financial insight, had the audacity to point out that these numbers are “moving in the wrong direction.” Of course, the mainstream media would say that! They love to rain on our parade, don’t they?
Now, before we all start panicking and hiding our hard-earned money under our mattresses, let’s break this down. If we exclude the pesky food and energy prices, which always seem to go up for some reason, the so-called “core CPI” still increased by 0.2% for the month. That’s a 4.7% increase over the past year. Yikes!
Oh, and do you want to know who’s to blame for this? Shelter costs. Those sneaky shelter costs decided to rise by 0.4%, causing a staggering 7.7% increase from last year. Nice going, shelter costs! Way to make it even harder for people to afford a roof over their heads.
Now, let’s talk about food. We all need it to survive, right? Well, apparently, the universe decided to play a cruel joke on us because food prices increased by 0.2% in July. As if grocery bills weren’t high enough already! And don’t even get us started on energy prices. Despite crude prices going through the roof, energy prices only increased by a measly 0.1%. Talk about a letdown.
But wait, there’s a silver lining. Sort of. Used vehicle prices actually declined by 1.3%, so at least you won’t have to take out a second mortgage to buy a car. And medical care services? They were down by 0.4%. So, if you’re feeling a bit under the weather, at least you won’t have to pay an arm and a leg to see a doctor.
Now, let’s take a moment to address the elephant in the room: inflation. And not just any inflation, but good ol’ Bidenflation. According to the BLS, annual inflation rates are still considerably above the pesky 2% target set by the Federal Reserve. So, don’t hold your breath for any interest rate cuts anytime soon. Thanks a lot, Biden.
CNBC: Inflation "is moving in the WRONG direction" pic.twitter.com/gpfz361j5F
— RNC Research (@RNCResearch) August 10, 2023
Alfredo Ortiz, the President and CEO of Job Creators Network, hit the nail on the head when he said, “the inflation fight is far from over, no matter what Democrats and the media say.” Finally, someone who speaks the truth! Inflation is running wild, and no amount of liberal spin can cover up the economic chaos caused by Biden’s reckless spending and anti-energy policies.
But here’s the real kicker: while inflation continues to rise faster than average wages, the Democrats keep pretending that everything is just peachy. Newsflash, folks! American living standards are stagnant, and small businesses are feeling the pinch. According to JCNF’s latest SBIQ poll, inflation is the biggest concern among small businesses. It’s about time someone listened to their worries instead of pushing their radical agenda.
So, while the liberals try to downplay the severity of this inflation crisis and attempt to blame someone or something else, it’s clear that Bidenflation is here to stay. Brace yourselves, folks. It’s going to be a rocky road ahead.
