President Joe Biden promised he would send America towards prosperity and stability.
The economic numbers are proving Biden was very wrong.
According to Breitbart News, “Consumer prices surged higher in July. The Consumer Price Index rose 5.4 percent compared with a year ago, the Department of Labor said Thursday. On a monthly basis, the CPI rose 0.5 percent.”
John Carney, calling it “Bidenflation,” noted the changes were the largest in a long period of time:
Core inflation, which excludes the volatile food and energy categories, rose 4.3 compared with 12-months ago—apart from the prior month’s 4.5 percent rise, that is the biggest annual increase since 1991—and 0.3 compared with June. Both figures were in-line with expectations.
Prices rose 0.9 percent on a monthly basis in June and 5.4 percent annually. The June monthly and annual figures were the highest since June 2008, when prices jumped 1 percent in a single month.
To read more about this story, click here.