Annual inflation hit 7% in December, the highest 12-month increase since June 1982
* Annual inflation hit 7% in December, the highest increase since 1982, the Labor Department said Wednesday
* Labor shortage and supply chain chaos are sending costs higher for businesses, who pass on high prices
* Omicron variant is inflicting havoc on the labor pool, spurring shortages and increasing inflationary pressure
* Shocking shortages have left grocery store shelves bare, spurring comparisons to the Soviet Union
* Biden is under pressure over rising prices and for months insisted the phenomenon was 'transitory'
* Rising prices have wiped out pay increases, and polls show inflation is now a top concern for Americans
President Joe Biden has attempted to play down a new annual inflation reading of 7 percent, the highest level in 40 years, by branding it a 'global' issue that his administration is making 'progress' with.
Persistent supply chain issues have left grocery shelves bare across the nation this week, drawing comparisons to conditions in the former Soviet Union and putting further upward pressure on prices.
The Labor Department said Wednesday that the consumer price index rose 0.5 percent last month after surging 0.8 percent in November, with Biden apparently trying to highlight that slowing rate of growth as an achievement.
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WNU Editor: So much for the media and political narrative last year that this inflation was "transitory".
More News On The U.S. Inflation Rate
Inflation at 40-year high pressures consumers, Fed and Biden -- AP
Inflation rises 7% over the past year, highest since 1982 -- CNBC
Consumer prices climb 7% in the past year, highest jump since 1982 -- ABC News
Inflation rises to highest level since 1982 -- The Hill
Surging prices: Key inflation measure hits a 39-year high -- CNN
3 comments:
Quinnipiac has Biden at 33%
https://news.yahoo.com/quinnipiac-poll-shows-biden-33-203844771.html
The question is will Joe Biden go below a floor of 41% or 41.3% in the Real Clear Average?
How much of that 41% are people, who will pull the lever for the donkey no matter what and how
much is it pollsters who are trying to give any and all democrats 3% to 8% ?
Joe will hit 558% to 60 disapproval in the next 3 months.
Thanks joe
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