Thanks Joe – U.S. Inflation Surges To 39 Year High

In a matter of months, Joe Biden has made history and not in a good way.

Democrats and members of the Biden administration keep insisting the economy is doing great but no one believes it. All you have to do is take a trip to the gas station or the grocery store to know the truth.

And now Biden has managed to push inflation to heights we haven’t seen in almost forty years.

Welcome back Carter.

FOX Business reports:

US inflation surges to 39-year high as consumer prices soar

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Consumer prices surged at the fastest pace in nearly four decades in November as Americans paid more for practically everything from groceries to cars to gasoline, solidifying hot inflation as a key trait of the economic recovery.

The consumer price index rose 6.8% in November from a year ago, according to a new Labor Department report released Friday, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.8% in the one-month period from October.

So-called core prices, which exclude more volatile measurements of food and energy, soared 4.9% in November from the previous year – a sharp increase from October, when it rose 4.6%. It was the steepest rate since 1991.

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Economists expected the index to show that prices surged 6.8% in November from the year-ago period and 0.7% from the previous month.

Price increases were widespread: Energy prices jumped 3.5% in November and are up 33.3% year over year. Gasoline is a stunning 58.1% higher than it was a year ago. Food prices have also climbed 6.1% higher over the year, while used car and truck prices – a major component of the inflation increase – are up 31%.

This is causing financial hardship for average Americans.

How are people going to make it through the next three years?

 

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