Joe Biden’s disastrous policies have sent inflation soaring to its highest rate in thirty-nine years, according to federal reports released this week.
Bidenflation has sent prices spiking 6.8 percent compared to this time last year, according to Friday’s release of the Labor Department’s Consumer Price Index.
According to the report, prices for food, energy, gasoline, and other consumer prices are higher than they have been since 1982.
“That means inflation is now accelerating at the highest pace many Americans have seen in their lifetimes,” the New York Post reported.
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The Post added:
November’s 6.8 percent spike from the same time last year is up from October’s hotter-than-expected 6.2 percent jump.
The index rose 0.8 percent from October to November, the feds added.
Economists surveyed by Dow Jones expected a 6.7 percent year-over-year spike in November and a monthly increase of 0.7 percent.
Investors sent the major US stock indices higher after the news, with George Ball, chairman of Houston-based investment firm Sanders Morris Harris, attributing the rally to the “lack of surprise.”
“The number was exactly what Wall Street was expecting,” he said.
Meanwhile, Biden’s horrid economic disaster is hurting the poor and middle classes the most.
The paper also reported:
Energy prices have risen 33.3 percent over the last 12 months, the feds said, with gasoline costs alone up a whopping 58.1 percent.
Food prices have jumped 6.1 percent over the year, and the closely watched used car and truck prices rose a substantial 2.5 percent last month, putting those costs up more than 31 percent from a year ago.
And it’s all just in time to hurt everyone’s Christmas… unless you are one of Biden’s rich buddies.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.
Cross-posted with Washington Exterminator
Related:
- Economist to Congress: Inflation Will Not End Soon
- Is Biden’s $1.75 Trillion Build Back Better Spending Bill In Jeopardy As Inflation Surges To 6.2 Percent?
- Poll Says Three in 10 Americans Missing Meals Because of Biden’s Inflation
- The Big Squeeze: Biden’s Inflation Now Costs Families $2.1K A Year
- Crazytown: Inflation Rises As DC Criminals Choose More Lawless Money Printing, Spending, And Debt
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