Inflation surged more than expected in January, notching another four-decade high as strong consumer demand and pandemic-related supply-chain snarls fueled rapid price gains that wiped out the benefits of rising wages for most Americans, Fox Business reported on Thursday.
The consumer price index rose 7.5% in January from a year ago, according to a new Labor Department report released Thursday, marking the fastest increase since February 1982, when inflation hit 7.6%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.6% in the one-month period from December.
CNN’s chief business correspondent Christine Romans said in part of the rising inflation: these are “big problems for American families, especially low-income American families.”
CNN: Under Biden, Americans face “the fastest rate of price increases we have seen for just about everything since February 1982.”
These are “big problems for American families, especially low-income American families…they're going to go without some food.” pic.twitter.com/f4KCA4vEy0
— RNC Research (@RNCResearch) February 10, 2022
CNN: “The only thing that won’t cost more for your Super Bowl party [are] hotdogs.”
CNN: "The only thing that won’t cost more for your Super Bowl party [are] hotdogs."
Chicken 📈 11.5%
Ground beef 📈 13%
Steak 📈 21.4%
Potato chips 📈 1%
Avocados 📈 24%
Beer 📈 3.9%
Wine 📈 3.3%
2-liter soda 📈 12% pic.twitter.com/y4McYYuUCd— RNC Research (@RNCResearch) February 10, 2022
Meanwhile, Joe Biden has claimed that inflation would be “temporary” and just “pop up a little bit, then go back down”. The RNC put together the following video compilation:
Biden said inflation would be “temporary” and just “pop up a little bit, then go back down.”
He was wrong, again. pic.twitter.com/VQ2dncoUD6
— RNC Research (@RNCResearch) February 10, 2022
Your Super Bowl party will cost more this year thanks to #Bidenflation 🏈
Ground beef for chili: +13%
Hot dogs: +2.1%
Sauces & condiments: +5.7%
Chicken wings: +11.6%
Crackers: +12.6
Snacks: +8.2%
Alcohol: +2.7%
Fruits & veggies: +5.6%— Jacki Kotkiewicz (@jackikotkiewicz) February 10, 2022
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