‘Unusually High’ Inflation: Consumer Costs Rose Again in February

aceless person with cash and calculator app on smartphone

Consumer prices jumped again in February, in part driven by a significant rise in gasoline prices, according to newly released federal inflation data.

The U.S. Bureau of Labor Statistics released its Consumer Price Index Tuesday, a leading marker of inflation, which showed prices rose 0.4 percent in February and 3.2 percent over the past year.

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Commentary: Americans Are Worse Off than Four Years Ago

Joe Biden SOTU

The State of the Union is not strong. Americans are facing a cost-of-living crisis, high crime, and an unsecured southern border as a direct result of Democrats’ failed policies led by perpetrator-in-chief Joe Biden.

Instead of taking accountability for these pressing national challenges, Biden promised more of the same in his State of the Union address Thursday night.

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Inflation Rose More than Expected in Latest Data

Grocery Shopping

Consumer costs increased at an elevated level again in December, according to newly released federal economic data, raising new concerns about spiking inflation.

The U.S. Bureau of Labor Statistics on Thursday released the Consumer Price Index, a key marker of inflation, showing the cost of a range of every day goods and services for Americans rose more than expected.

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Inflation Refuses to Go Away as Prices Stay Elevated

Inflation ticked slightly down year-over-year in November but continued to remain well above the Federal Reserve’s target, according to the latest Bureau of Labor Statistics (BLS) release on Tuesday.

The consumer price index (CPI), a broad measure of the prices of everyday goods, increased 3.1% on an annual basis in November, compared to 3.2% in October, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.0% year-over-year in October, compared to 4.0% in October.

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Consumer Spending Slows Down as Americans’ Savings Dry Up

Person Shopping

Growth in consumer spending fell to the lowest point since March as Americans’ savings fall from the all-time highs seen during the COVID-19 pandemic, according to the Bureau of Economic Analysis (BEA).

Consumer spending, measured by the personal consumption expenditure (PCE), increased by $41.2 billion in the month of October, an increase of 0.2%, less than the 0.7% increase that was seen in September as Americans cut back, accordingto the BEA. The cooling in spending follows a huge decline in the amount of savings Americans collectively hold, falling from over $1 trillion in May to $768.6 billion in October, far from the all-time high of almost $6 trillion in April 2020, according to the Federal Reserve Bank of St. Louis.

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October Inflation Rate 3.2 Percent, Unchanged from Previous Month and Above Target Rate: Feds

The seasonally adjusted inflation rate for October 2023 remained unchanged from the previous month and sits at 3.2%, according to the Labor Department’s Consumer Price Index Report released Tuesday. 

The rate increased by 3.2%, compared to October 2022. In September, inflation was at 3.7% compared to the same time the previous year.

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Runaway Inflation ‘Unlikely’ to be Reeled in Under Biden Administration, Experts Say

by Will Kessler   As long as President Joe Biden continues his high government spending policies, inflation is not likely to return to previously normal levels without seeing economic repercussions, according to experts who spoke to the Daily Caller News Foundation. The last time the Consumer Price Index (CPI), a…

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Inflation Continues to Rise, Federal Data Shows

Consumer prices rose significantly in September, newly released federal inflation data shows, further undoing a trend of slowing inflation that had begun earlier this year.

The U.S. Bureau of Labor Statistics on Thursday released its Consumer Price Index, a key marker of inflation that tracks the cost of a range of consumer goods and services. That index rose 0.4% in September alone, a notable increase that is higher than months earlier this year.

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Inflation Surges Above Expectations Despite Fed’s Rate Hikes

Inflation rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.7% on an annual basis in August, compared to 3.2% in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to 4.7% in July.

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Food Prices Expected to Continue Rising Through 2024

Recently released federal pricing analysis from the U.S. Department of Agriculture projects that food prices will continue to rise through 2024.

The USDA pointed to the U.S. Bureau of Labor Statistics Consumer Price Index released earlier this month, which showed consumer prices overall rose 3.2 percent in the previous twelve months. Food prices, though rose more quickly at 4.9 percent during the same time.

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Interest Rate Hikes Fail to Pump the Brakes as Inflation Rises

Inflation rose in July after steadily declining from a high of 9.1% in June 2022, according to the latest Bureau of Labor Statistics (BLS) release on Thursday.

The Consumer Price Index (CPI), a broad measure of the prices of everyday goods like energy and food, increased 3.2% on an annual basis in July, compared to 3.0% in June, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.7% year-over-year in July, compared to 4.8% in June.

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Inflation Rises Slightly in May

The latest federal data released Tuesday showed that inflation rose slightly last month.

The U.S. Bureau of Labor Statistics released its Consumer Price Index for May, a federal marker of inflation that rose 0.1% last month, part of a 4% increase in the previous 12 months. Most economists say 2% to 3% inflation is healthy for the economy.

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Inflation Rises Again in March, but at Slower Pace

Inflation rose again in March, but at a slower pace than previous months, the U.S. Bureau of Labor Statistics latest consumer pricing data shows.

The Consumer Price Index rose 0.1% in March, contributing to a 5% rise over the last 12 months, about double what economists say is a healthy inflation rate. Price changes varied by the respective good and service.

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Inflation Rebounds in January

The U.S. Bureau of Labor Statistics released fresh inflation figure Tuesday which show inflation picked back up in January.

The BLS Consumer Price Index rose 0.5% last month, part of a 6.4% increase over the last year. Overall, January’s rate is not as high as the peak inflation spikes seen in recent years, but it is still well above the increases considered advantageous by most economists.

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Commentary: The Unknown Impact of Inflation on Rural Americans

When the Federal Reserve convenes at the end of January 2023 to set interest rates, it will be guided by one key bit of data: the U.S. inflation rate. The problem is, that stat ignores a sizable chunk of the country – rural America. Currently sitting at 6.5%, the rate of inflation is still high, even though it has fallen back slightly from the end of 2022.

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Electricity Prices Jumped More than Double that of Inflation Last Year, Consumer Index Shows

Prices for electricity in the United States soared well above overall inflationary levels last year, putting an added squeeze on consumers already reeling from significantly inflated costs of most consumer goods. The Consumer Price Index Summary released by the U.S. Bureau of Labor Statistics this month showed the 12-month average price of electricity last month jumping a whopping 14.3 percent, more than double the 6.5 percent of overall price increases.

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Commentary: Don’t Be Fooled by October’s Decrease in the Rate of Inflation

October’s Consumer Price Index, the measure of the national rate of inflation, was at 7.7 percent in October, compared to a reading of 8.2 percent in September. The report propelled “U.S. stocks forward [at the open] and sent Treasury yields tumbling as Wall Street weighed the implication of softer prints on Federal Reserve policy.”

The decline in the rate of inflation was driven by declining annual prices of “necessities” such as smartphones (-22.9 percent), admission to sporting events (-17.7 percent), televisions (-16.5 percent), and women’s outerwear (-1.4 percent), all items that are discretionary purchases.

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Commentary: After 18 Months of Biden, We Have Yet to Hit Bottom

Next week will mark one and a half years since Joe Biden became president on Jan. 20, 2021. On July 20, every American should look within and ask: “Am I better off than I was 18 months ago?”

To Biden’s credit, the unemployment rate has fallen from 6.4% when he took office to 3.6% in June. Today’s figure is a notch higher than the 3.5% joblessness that Americans enjoyed in February 2020, thanks to President Donald Trump’s Republican tax cuts, deregulation, energy dominance, and other pro-growth initiatives.

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CNBC’s Rick Santelli Hammers Biden’s Inflationary Energy Policies

CNBC editor Rick Santelli unloaded on the Biden administration on CNBC’s “Squawk Box” Friday morning, saying anti-fossil fuel policies helped to spur inflation.

“What was the forward guidance with this administration on energy?” Santelli asked. “We know the answer. Maybe they can’t get things to happen faster, but by giving positive forward guidance, by not closing pipelines, by not talking pre-election about how much they don’t like fossil fuel, maybe things would have turned out a bit different.”

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As Food Prices Soar with No End in Sight, Americans Change Habits

Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.

The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”

The report found “46% are either dining out less or consciously spending less when dining out.”

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Majority of Americans Say They Are ‘Falling Behind’ Rising Cost of Living

The majority of Americans feel they cannot keep up with the cost of living as inflation and the price of goods continue to rise, according to new polling data.

A poll from NBC News asked Americans, “Do you think that your family’s income is … going up faster than the cost of living, staying about even with the cost of living, or falling behind the cost of living?”

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Small Businesses Struggle to Survive in Biden’s Economy: Poll

Small business owners are increasingly pessimistic about U.S. economic conditions and overwhelmingly support an expansion of domestic fossil fuel infrastructure, the latest polling data showed.

Just 27% of small business owners agreed the economy was in “good” or “excellent” condition, according to a Job Creators Network Foundation poll released Friday and shared with The Daily Caller News Foundation. The figure represented the lowest rating of the current economic situation among small business owners since the group began the poll a year ago.

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Inflation Slowed in April, but Prices Continued Their Steady Increase

Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.

For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.

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Annual Wholesale Inflation Rises 11.2 Percent, Mirroring Record Consumer Price Index Numbers

Wholesale prices in March increased by 11.2%, compared to 12 months earlier, the Labor Department said Wednesday.

The report also show the prices increased 1.1% from February to March.

The newly released numbers follow the agency saying Tuesday the price of consumer goods in March increased by 8.5%, compared to the same time last year, making the Consumer Price Index’s so-called “annualized rate” the highest since December 1981.

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Consumer Prices Rise 8.5 Percent, the Highest in 40 Years

Newly released federal inflation data show that prices continue to rise at the fastest rate in four decades, continuing the trend of soaring inflation.

The Bureau of Labor Statistics released its Consumer Price Index, a key indicator of inflation, which showed prices rose an additional 1.2% in March, part of an 8.5 percent spike in the past 12 months.

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Wholesale Price Inflation Reaches Double Digits

The Producer Price Index (PPI), which measures the prices suppliers charge businesses and other customers, surged 0.8% on a month-over-month basis as of February as consumer demand continues to spur inflation, the U.S. Bureau of Labor Statistics (BLS) announced Tuesday.

The PPI grew 10% on a year-over-year basis as of February, the BLS reported Tuesday. Economists surveyed by Dow Jones estimated wholesale prices would increase 0.9% on a monthly basis in the latest report.

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Inflation Soars to Another Four-Decade High

The Consumer Price Index (CPI) increased 0.8% in February, bringing the key inflation indicator’s year-over-year increase to 7.9%, the U.S. Bureau of Labor Statistics (BLS) reported.

The core price index, which measures inflation of goods less food and energy, increased 0.5% in February, the BLS reported. Food prices reportedly grew 7.9% on a year-over-year basis as of February, the BLS reported, and energy prices soared 25.6%.

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‘Great Resignation’ Contributed to Inflation in 2021: Report

People switching jobs during the Great Resignation contributed to rising inflation in 2021, according to a report from the Federal Reserve Bank of Chicago.

“The idea is as follows: By applying for jobs in a different firm, employed workers can elicit wage competition between the current employer and the new candidate employer. The firm that intends to poach the worker from their current employer has to offer a sufficiently large wage to make the offer attractive. And if a worker is particularly valued by their own employer, they may be offered a pay raise that is necessary to retain them in their current job,” authors Renato Faccini, Leonardo Melosi and Russell Miles wrote in Chicago Fed Letter No. 465. “In this context, if employed workers search more, wage competition among employers increases, leading to an increase in inflationary pressures; if they search less, wage competition falls and inflationary pressures decrease.”

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Consumer Spending Surged in January as Inflation Reached Near 40-Year High

Consumer spending surged in January amid soaring inflation, the Commerce Department announced Wednesday.

Retail sales grew 3.8% in January, far exceeding the 2.1% Dow Jones estimate, the Commerce Department announced Wednesday. January’s figure represents the largest monthly increase since March 2021 and a significant snapback from December 2021 when sales decreased by 2.5%.

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Inflation Surges Far Above Projections

The Consumer Price Index (CPI) increased 0.6% in January, bringing the key inflation indicator’s year-over-year increase to 7.5%, the U.S. Bureau of Labor Statistics (BLS) reported.

The CPI remained at its near four-decade high throughout January, growing 7.5% on a year-over-year basis, the BLS reported Wednesday. Economists surveyed by The Wall Street Journal projected the index would rise around 7.2%.

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Inflation Soars to Highest Level Since 1982

The Consumer Price Index (CPI) increased 0.5% in December, bringing the key inflation indicator’s year-over-year increase to 7%, the U.S. Bureau of Labor Statistics (BLS) reported.

The CPI soared to 7% on a year-over-year basis in December, the highest level in almost four decades, the BLS reported Wednesday. Economists surveyed by The Wall Street Journal projected the index would soar past 7.1% in December.

“There’s still a lot of scarcity in the economy. Consumers and businesses are in great financial shape, and they’re willing to pay up for more goods, more services and more labor,” Sarah House, director, and senior economist at Wells Fargo, told the WSJ.

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Producer Price Index Grows the Fastest It Ever Has

The Producer Price Index (PPI), which measures inflation at the wholesale level, soared 9.6% year-over-year as of November, growing at the fastest rate ever measured, the U.S. Bureau of Labor Statistics (BLS) announced Tuesday.

BLS reported that the PPI, which measures inflation before it hits consumers, grew 0.8% in November. As of October, the measure grew just 8.6% on a year-over-year basis and just 0.6% in that month alone, meaning wholesale prices grew more and to a worse yearly figure in November than they did in October.

Economists projected a year-over-year increase of the core PPI, which excludes food and energy prices, to be 7.2% year-over-year and a 0.4% increase from October, according to CNBC. Demand for goods was the biggest driver for the surge in producer prices, increasing 1.2% in November, slightly down from October’s 1.3% figure. Final demand services inflation increased 0.7% in November, much faster than October’s 0.2%.

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Poll: Approval for Biden’s Handling of Economy, Coronavirus Sinks Further

Approval of President Joe Biden’s handling of the economy and coronavirus sank even further in recent days, according to a new CNBC All-America Economic survey.

Roughly 46% of respondents approved of Biden’s handling of the COVID-19 pandemic while 48% disapproved, marking the first time his pandemic approval rating is underwater, according to CNBC.  Biden’s economic approval also plummeted, with 37% approving and 56% disapproving.

“The Covid (approval) number is actually I think the more important one,” said Micah Roberts, a partner at Public Opinion Strategies, the Republican pollster for the survey. “As goes COVID, so goes the Biden presidency, and that’s really proving to be quite true.”

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Report: Online Inflation Soars Heading into Busy Holiday Season

Person on laptop

Online prices soared to record highs in November, according to Adobe Analytics.

Prices online surged 3.5% on a year-over-year basis as of November, the biggest increase since 2014, when Adobe started tracking the cost of goods on the internet and the 18th consecutive year of online inflation, according to the Adobe Digital Price Index (DPI). Prices on a month-to-month basis dropped 2% due to holiday discounts, according to Adobe.

“Census Bureau data shows that the e-commerce share of non-fuel retail spending has tripled over the last decade as more expenditures like groceries and home improvement move online,” Marshall Reinsdorf, former senior economist at International Monetary Fund, said in the report.

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Inflation Hits Highest Level in 39 Years

Large crowd of people shopping during the holidays

The Consumer Price Index (CPI) increased 0.9% in November, bringing the key inflation indicator’s year-over-year increase to 6.8%, the highest figure in four decades.

The CPI’s increase is the largest increase in four decades, up from October’s 6.2% according to the U.S. Bureau of Labor Statistics (BLS) report released Friday morning. Experts surveyed by CNBC projected inflation would increase 0.7% in November, translating to a 6.7% gain on a year-over-year basis.

“These are frighteningly high inflation numbers, the likes of which we haven’t seen for decades,” Allen Sinai, chief global economist and strategist at Decision Economics, Inc., told The Wall Street Journal.

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Inflation Surges to Highest Level in 30 Years

The Consumer Price Index increased 0.9% in October, bringing the key inflation indicator’s year-over-year increase to 6.2% as supply shortages continue and demand grows, the U.S. Bureau of Labor Statistics announced Wednesday.

The year-over-year inflation figure is an increase from September’s 5.3% level, marking the highest level in 30 years, according to the Bureau of Labor Statistics (BLS) report. Economists surveyed by The Wall Street Journal projected the CPI would increase to just 5.9% in October.

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Commentary: After Disastrous September and 2022 Midterms Looming, Biden May Have Lost His Mandate to Govern

Following a catastrophic U.S. military withdrawal from Afghanistan, the highest inflation since 2008,pushing unpopular COVID vaccine mandates, rationing COVID treatments to red states and finally, watching his domestic legislative agenda falter in Congress, President Joe Biden is already upside down on his job approval ratings, according to the latest average of polls compiled by RealClearPolitics.com.

Reuters/Ipsos on Sept. 29-30 had Biden’s approval at 46 percent and disapproval at 50 percent.

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Commentary: The Treacherous Road to Runaway Inflation

In January, 2001, America had a balanced budget, low debt, and was at peace. Here, briefly, is what lay ahead: war, financial crisis, civil unrest, massive growth of the federal government, and now severe inflation.

Never in the history of America has our government in its ineptitude created such a false economy, risking hundreds of years of hard work on unsound and unworkable economic policies. The Founders wisely relied on dispersion of power. They knew there would be dishonest and incompetent politicians but, in this case, the entire government is infected with deceptive leaders.

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Commentary: Inflation Hits 5.3 Percent in July as $1.2 Trillion Infrastructure Bill Easily Passes with $3.5 Trillion Stimulus Expected in September

The unadjusted consumer price index as measured by the Bureau of Labor Statistics was 5.28 percent for the month of July, slightly lower than June at 5.32 percent, but still measuring the highest inflation on record since July 2008, when it hit nearly 5.5 percent.

The latest numbers come as Congress has easily passed another gargantuan $1.2 trillion infrastructure spending plan that included $550 billion of new spending. Interest rates have already reacted as 10-year treasuries came off a near-term low of 1.17 percent on Aug. 2 to 1.36 percent as of Aug. 12, slightly increasing inflation expectations.

The $1.2 trillion spendathon was just the latest in a long line of spending that has added $5.25 trillion to the national debt since Jan. 2020 in response to the Covid pandemic all the way to the current $28.5 trillion: the $2.2 trillion CARES Act and the $900 billion phase four under former President Donald Trump, and then the $1.9 trillion stimulus under President Joe Biden. It’s been a bipartisan affair.

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Rising Inflation Could Mean Largest Social Security Increase Since 1983

Person counting cash

Rising inflation and the price increases that come with it may lead to the highest raise for senior citizens in decades.

The Senior Citizens League predicted Thursday that the annual cost-of-living adjustment for 2022 Social Security payments could be the highest since 1983. The prediction comes as federal data this week showed two major signs of inflation, continuing a trend that has worsened this year.

“The estimate is significant because the COLA is based on the average of the July, August and September CPI data,” said Mary Johnson, a Social Security policy analyst for The Senior Citizens League. “With one third of the data needed to calculate the COLA already in, it increasingly appears that the COLA for 2022 will be the highest paid since 1983 when it was 7.4%.”

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Inflation Crisis: Consumer Prices Surge 5.4 Percent, Led by Food and Energy Costs

Inflation increased at a rapid 5.4% clip compared to August 2020, the Department of Labor said Wednesday.

The Consumer Price Index (CPI), a common tool used to measure inflation, increased 0.5% between June and July, according to the Labor Department report.

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Atlanta, Dallas, Tampa, and St. Louis Among the Cities Experiencing the Highest Consumer Price Spikes

Throughout the COVID-19 pandemic, the Federal Reserve Bank and Congress have taken unprecedented steps to stabilize the economy after entire industries and sectors ground to a halt last year amidst the public health crisis. The Fed has kept interest rates near zero, created lending programs to pump trillions of dollars into the economy, and bought securities to support financial markets. Congress passed three major COVID-19 stimulus packages in response to the crisis: the $2.2 trillion CARES Act in March 2020, the $900 billion Coronavirus Response and Relief Supplemental Appropriations Act in December 2020, and the $1.9 trillion American Rescue Plan in March 2021.

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Inflation Surges Five Percent, Largest Spike Since 2008

The Consumer Price Index has increased 5% over the last 12 months, the fastest pace of inflation since August 2008, according to a Department of Labor report.

The Consumer Price Index (CPI), a common tool used to measure inflation, increased 0.6% between April and May, according to the Labor Department report released Thursday morning. Economists projected that the CPI increased by 0.5% and 4.7% over the 12-month period ending in May, according to The Wall Street Journal.

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Commentary: Raising the Minimum Wage Is Not the Answer

Joe Biden

If Joe Biden gets his way, the federal minimum wage will soon more than double, from the current $7.25 to $15 per hour. To quote our commander in chief, “if you work for less than $15 an hour and work 40 hours a week, you’re living in poverty.”

To rehash the minimum wage debate would be redundant. Anyone with business experience should see what’s going to happen. Many small independent businesses, retail stores, and restaurants that pay minimum wage will go under.

Meanwhile, major corporate chains will automate, shedding workers and raising prices, consolidating their grip on every market sector where they’re active. Unionized government workers will automatically get raises because their wages are indexed to the minimum wage—putting even more pressure on government budgets and taxpayers. People in the private sector who have spent decades learning a skill—and as a result can command wages upwards of $25 or $30 an hour—will become justifiably disgruntled, because they will no longer be making much more than minimum wage. The underground economy will explode.

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Consumer Prices Increase 4.2 Percent to the Highest Level Since 2008

The consumer price index has jumped 4.2% over the last 12 months, the fastest pace of inflation since 2008, according to a Department of Labor report.

The consumer price index (CPI) increased 0.8% between March and April, according to the Labor Department report released Wednesday morning. Economists projected that the CPI increased by 0.2% last month and 3.6% over the 12-month period ending in April, according to The Wall Street Journal.

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