Staff Reports
The Bidenflation train keeps chugging along, folks! Inflation just can’t seem to catch a break. According to the Bureau of Economic Analysis, the personal consumption price expenditures (PCE) price index rose 3.3 percent in July compared to the same time last year. That’s even higher than the three percent increase we saw in June. Looks like inflation is on the rise again, and it’s not slowing down anytime soon.
But wait, there’s more! The PCE price index also climbed 0.2 percent compared to the previous month. That’s the same increase we saw in June, but if you look closely, the actual numbers show a slight uptick. Inflation edged up a bit, rising 0.213 percent compared to June’s 0.205 percent. It may seem like a small difference, but when it comes to inflation, every percentage point counts.
Now, let’s break it down. Services prices rose 0.4 percent in July, while goods prices took a slight dip of 0.3 percent. Food prices, on the other hand, climbed 0.2 percent. And don’t get us started on energy prices – they rose a measly 0.1 percent. Thanks a lot, Biden!
Bidenflation Keeps Going: Inflation Edged Higher in July by 3.3%
I remember this one time when Biden Said Inflation just ticked up an inch..
Well Joe..to a Millionaire like you…and inch is just that, and inch…
But to a regular working stiff like The American People, may as… pic.twitter.com/r97Q1A9LMw
— 🇺🇸JV🇺🇸 (@JRV_503) August 31, 2023
If that wasn’t enough to make your blood boil, core PCE inflation, which excludes food and energy costs, rose 4.2 percent on an annual basis. That’s higher than the 4.1 percent we saw in June. It’s clear that Biden’s economic policies are fueling this inflation fire, and hardworking Americans are paying the price.
The Federal Reserve, of course, uses the PCE price index to set its inflation target of two percent. Good luck with that, Fed! It seems like the more they try to bring inflation down, the more it keeps creeping up. Maybe instead of raising interest rates or tightening monetary policy, they should try a different approach. Just a thought.
It’s no wonder investors are breathing a sigh of relief that inflation didn’t accelerate even more. But let’s not get too comfortable, folks. We’re still facing major challenges on the road to lower inflation. And with Biden’s reckless spending and big government agenda, that road definitely won’t be smooth or straight. Buckle up, America. We’re in for a bumpy ride!
