As we reported earlier today, inflation is out of control, the highest it’s been in 40 years. Inflation is at seven percent higher than last year. That’s the highest rate of consumer inflation since 1982, even CNN admits.
CNN’s John Berman on the record inflation under Joe Biden: “Yikes” pic.twitter.com/45hjpNsR9B
— RNC Research (@RNCResearch) January 12, 2022
Also, there was a significant, one month jump in November’s prices, which rose 0.5 percent.
Price increases over last year (CPI report)…
Gasoline: +49.6%
Automobiles Used – 37.3%
Gas utilities +24.1%
Meats/Fish/Eggs: +12.5%
Neu Cars +11.8%
Average CPI = +7%
Home-cooked food +6.5%
Electricity: +6.3%
Take-out food
Apparel: +5.8%
Transportation: +4.2%
Shelter: +4.1%— Charlie Bilello (@charliebilello) January 12, 2022
Charlie Biello is the founder and chief executive officer of Compound Capital advisors.
CPI’s single largest component is shelter (33% Index). It is often underemphasized (+4.1%), with rents rising 17.8% in the past year (largest ever annual rise) and house prices increasing 19% (also the biggest annual increase ever). The true inflation rate is higher than 7%. pic.twitter.com/krhAg4TkNj
— Charlie Bilello (@charliebilello) January 12, 2022
Joe Biden is a total rejecter of reality. According to Biden, the news today showed he was “making progress” on inflation.
Today’s inflation numbers show a meaningful reduction in headline inflation over last month. Progress is being made in slowing price rises. But there is still more work to do — I remain focused on lowering costs for families and maintaining strong economic growth.
— President Biden (@POTUS) January 12, 2022
“Today’s report—which shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling—demonstrates that we are making progress in slowing the rate of price increases,” Biden claimed. “But there is still more work to do — I remain focused on lowering costs for families and maintaining strong economic growth.”
It takes nerve. The fastest rate of inflation in 40 years is “meaningful reduction”? It’s up seven percent from 6.8 percent last month. How is that a “reduction” except in the deluded mind of Joe Biden? This example shows how starkly opposite Joe Biden’s claims are to the truth. It’s all lies, all the time.
Indeed, he has more lies in there, too — food prices are rising, not dropping. They increased by 0.5 percent last month, and are now up 6.3% over twelve months. That’s in part because he hasn’t resolved the supply chain issues, despite the White House claiming that they “saved Christmas” last month.
Biden simply isn’t living in the present. Biden thinks he can convince people to believe him by repeating the same mantra that everything is great. He also previously claimed that inflation was “transitory“last summer. What happened to that?
Of course, maybe you don’t have to pay more if you can’t even find the products that you’re looking for? #BareShelvesBiden is able to solve high-priced problems by simply disappearing all of the products. I was amazed that this could happen here in the United States.
But just remember, he’s “making progress.” Maybe towards complete chaos, but not too much else.
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