REPORT: U.S. Inflation Rises To Highest Level Since 1982

Joe Biden is starting to make former Presiden Jimmy Carter look good by comparison.

Inflation in the United States has now skyrocketed to the highest level since 1982.

People are feeling real economic pain and there’s no end in sight.

The Associated Press reports:

US Inflation Soared 7.9% in Past Year, a Fresh 40-Year High

Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.

POLL: Do You Think Trump Was The Real Winner Of The Election?

Completing this poll entitles you to ProTrumpNews updates free of charge. You may opt out at anytime with a single click. Here's the Privacy Policy.

The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include the oil and gas price surges that followed Russia’s invasion of Ukraine on Feb. 24. Since then, average gas prices nationally have jumped about 62 cents a gallon to $4.32, according to AAA.

Even before the war further accelerated price increases, robust consumer spending, solid pay raises and persistent supply shortages had sent U.S. inflation to its highest level in four decades. What’s more, housing costs, which make up about a third of the government’s consumer price index, have risen sharply, a trend that’s unlikely to reverse anytime soon.

“The numbers are eye-watering, and there is more to come,” said Eric Winograd, senior economist at asset management firm AllianceBernstein. “The peak in inflation will be much higher than previously thought and will arrive later than previously expected.”…

Trending: Journalist Releasing Documentary About The Many Lies Of MSNBC’s Nicolle Wallace – Watch The Trailer

For most Americans, inflation is running far ahead of the pay raises that many have received in the past year, making it harder for them to afford necessities like food, gas and rent.

Biden keeps making excuses for this.

And it’s going to get worse.

Hang on to your hat.

 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.