On Wednesday, the White House’s Jen Psaki trotted out a new talking point to try to obfuscate from the crushing inflation hitting Americans. She stated that inflationary actions were actually falling, which was good news for people still struggling to pay high prices for gas and groceries.
It was half-crunchy, too clever sleight. Yes, the rate of growth in inflation from month to month had somehow slowed (specifically last December and January), though it’s still far higher than normal levels. However, as I pointed out in my response to her comments above, overall inflation rates continue to rise.
It skyrocketed for February. New inflation figures have been published and show a staggering 7.9 percent. That’s good for a 40-year-high and a new record for the Biden administration.
Inflation Reaches New High as Consumer Prices Jump 7.9%, Highest in Four Decades https://t.co/lYzbc2ZZ0t via @BreitbartNews
— Joel Pollak (@joelpollak) March 10, 2022
It was time to update the meme again. It’s not funny anymore… 😳🚨💸 pic.twitter.com/65HydrOySZ
— Brad Polumbo 🇺🇸⚽️ 🏳️🌈 (@brad_polumbo) March 10, 2022
Is that the number that Americans are most likely to buy? The result looks horrendous. The 7.9% number may be misleading.
Prices have increased over last year (CPI)
Autos for sale – +41.2%
Gasoline: +38.0%
Natural Gas Utilities +23.8%
Meats/Fish/Eggs: +13.0%
Vehicles for Sale: New Models +12.4%
Electricity: +9.0%
Home-cooked food +8.6%
Average CPI = +7.9%
Take-out food from your home
Apparel: +6.6%
Transportation: +6.6%
Shelter: +4.7%— Charlie Bilello (@charliebilello) March 10, 2022
I don’t know about you, but I buy a lot of meat, gasoline, and utilities, and I’d guess so do most other Americans. The real inflation rate is the percentage of price rises that have the greatest impact on people. It’s closer to 20-30%. It is an absolute catastrophe.
These numbers also put to bed Psaki’s new spin. From 0.6 percent in January and February, the month-to-month rate of inflation rose to 0.8 per cent. This means that the growth rate isn’t falling, so any claim to it is misleading.
Biden’s administration will fix this problem in the form of another $1.5 billion spending bill within the next few days. Be prepared for inflationary measures that will go even higher. There is no end in sight because our leaders won’t allow there to be an end in sight.
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