7% inflation
What a great job ‘they’ are doing
WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy. (brought on by insane restrictions of freedom and absurd ‘rules’)
Prices have risen sharply for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession that was fueled by (morons imposing restrictions) vast infusions of government aid and emergency intervention by the Fed, which slashed interest rates. As Americans have ramped up spending, supply chains have been squeezed by shortages of workers (who QUIT rather than compromise their health with a bogus experimental vaccine) and raw materials.
“Inflation ended 2021 very hot,” said Ben Ayers, senior economist at Nationwide. Ayers and other economists say prices may cool off some as snags in the supply chain ease, but inflation will remain elevated throughout 2022.
The Labor Department reported Wednesday that its measure of inflation that excludes volatile food and gas prices jumped 5.5% in December, the fastest such increase since 1991. Inflation rose 0.5% overall from November, down from 0.8% the previous month.