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America got hit with devastating news this week as wholesale inflation exploded far beyond what anyone expected. The Producer Price Index jumped a massive 0.9 percent in July alone, marking the worst surge we’ve seen in over three years. This is a complete disaster for working families who are already struggling to put food on the table.
The numbers tell a scary story that Washington doesn’t want you to hear. Economists predicted inflation would stay low at just 0.2 percent, but instead it shot up nearly five times higher than expected. Annual wholesale inflation now sits at a crushing 3.3 percent, the highest we’ve seen since earlier this year when prices were already out of control.
Core inflation, which strips out food and energy costs, painted an even worse picture for American families. It also spiked 0.9 percent monthly and hit 3.7 percent annually, smashing through every expert prediction. This was the biggest monthly jump in core prices since March 2022, proving that Biden’s inflation crisis never really went away.
Service sector costs exploded by 1.1 percent in a single month, the worst increase since March 2022. Equipment and machinery wholesalers saw their profit margins surge as they passed higher costs down the line. Every single increase will eventually hit your wallet when you shop at the store or try to buy a car.
The current administration’s reckless spending spree has finally caught up with hardworking Americans. Years of printing money and throwing cash at wasteful programs created this inflationary nightmare. Now regular families are paying the price while politicians in Washington pretend everything is fine.
Small businesses across America are getting crushed by these wholesale price increases. They have no choice but to raise prices on everything from groceries to gas just to survive. This creates a vicious cycle that hurts every working family trying to make ends meet in Joe Biden’s economy.
Financial experts are sounding the alarm that this could signal the return of the devastating inflation we thought was behind us. The Federal Reserve’s attempts to control prices have clearly failed as costs continue to spiral out of control. American families deserve leaders who will fight inflation instead of making it worse.
This inflation crisis proves we need real change in Washington before it’s too late. Conservative policies that cut spending, reduce regulations, and support American businesses are the only way forward. Working families can’t afford four more years of economic disasters like this wholesale inflation bomb.
