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Inflation Shock Numbers In The U.S.

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Inflation Shock Numbers In The U.S.

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Inflation hit a 40-year high of 7.5 percent, the Labor Department announced Thursday, a figure not seen since the Carter administration 

 

Daily Mail: Biden calls inflation skyrocketing to a 40-YEAR high 'elevated' and AGAIN insists it's temporary: President tries to spin prices soaring by 7.5% in the highest spike since 1982 with Americans having to pay an extra $250 a MONTH 

* The average cost of consumer goods has risen for the sixth consecutive month, Labor Department revealed

* Energy costs, including fuel and used cars, rose an average 27 percent in January from the same time in 2021 

* Prices at the pump are up by 40 percent while grocery costs are up 7.4 percent, guaranteeing a broad swath of Americans have felt the economic ramifications personally over the last month 

* January's inflation numbers outpaced average wage growth for the same month, which was 5.7 percent 

* West Virginia Democratic Sen. Joe Manchin said the devastating report was a sign Congress and the Biden administration need to 'proceed with caution before adding more fuel to an economy already on fire' 

* Monthly rent costs saw their biggest increase from December to January in 20 years 

* Household furnishings saw their largest price increase on record as costs jumped by 1.6% from Dec to Jan 

The U.S. inflation rate hit a 40-year high in January, with prices rising 7.5 percent from last year, the Labor Department announced on Thursday. 

It's the highest spike in consumer goods prices since February 1982, and a certain blow to President Joe Biden's standing with American voters less than a year before the crucial midterm elections. 

Even members of his own party are distancing themselves from the economic disaster, with West Virginia Senator Joe Manchin taking a veiled swipe at the White House for seeming to 'think that spending trillions more of taxpayers’ money will cure our problems.' 

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WNU Editor: This guarantees steep interest rate rises in the coming months. 

 Inflation Shock Numbers In The U.S.  

Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982 -- CNBC  

US inflation jumped 7.5% in the past year, a 40-year high -- AP  

America's annual price increase was worse than economists had forecast -- CNN  

Inflation accelerates 7.5% in January, hitting a fresh 40-year high -- FOX News

Inflation costs the average US household $250 more a month, study says -- NYPost  

Inflation hits fresh 40-year high -- Axios



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