Inflation never went away:
The 3.5 percent year-over-year increase in the Consumer Price Index — announced on Wednesday — is a reminder that President Biden’s most conspicuous failure has been that he broke the 2 percent ceiling on inflation that had been kept in place for the last 30 years.
A hotter-than-expected consumer price index report rattled Wall Street Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Fed officials say it is useful in the current climate as they see elevated housing inflation as a temporary problem and not as good a measure of underlying prices.Supercore accelerated to a 4.8% pace year over year in March, the highest in 11 months.
How about another record? "Credit-Card Delinquency Rates Were Worst on Record in Fed Study"
But, ya know, $35 insulin.
🚨SINCE BIDEN TOOK OFFICE:
— Jacki Kotkiewicz (@jackikotkiewicz) April 10, 2024
Gasoline: 47.8%
Groceries: +21.1%
Eating out: +21.4%
Baby food: +30.5%
Pet food: +23.7%
Rent: +20.9%
Electricity: +28.3%
Natural gas: +26.9%
Used cars: +20.9%
Air fare: +32.7%
Public transportation: +22.2%
Real average weekly earnings: -3.9%
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