Despite presidential denial, inflation has returned with a vengeance to the United States this year — sparked in part by high demand, labor shortages, supply chain troubles, and misguided Washington policies.
It was announced by the Labor Department Wednesday that consumer prices rose by their highest in over three decades.
Consumer prices surge by most in 31 years https://t.co/yCE8iQUFSD
— FOX Business (@FoxBusiness) November 10, 2021
Wholesale prices skyrocketed nearly 9% last month, compared to a year earlier, as insidious inflation continues to ripple throughout our economy.
The producer price index — a measure of inflation before it hits consumers — increased 0.6% in October from September.
The rise was mainly due to a surge in gasoline prices, with the national average for a gallon of regular at $3.43 today, versus $2.10 one year ago.
All this harrowing news prompted Energy Secretary Jennifer Granholm — perhaps the dumbest Biden Cabinet member — to offer excuses and massive misinformation in a disastrous interview.
CNBC is shocked by how fast prices are rising: “Holy cow!”
“6.2%—that’s the highest since October of 1990…Certainly doesn’t appear” to be temporary. pic.twitter.com/jYpdsS8rP7
— RNC Research (@RNCResearch) November 10, 2021
An easy fix would be to reverse Biden’s disastrous Keystone XL Pipeline cancellation, but instead, as Rick Moran noted Tuesday, the “Biden administration is ready to double down on stupidity and close an oil pipeline in Michigan that transports hundreds of thousands of barrels of oil a day.”
If there’s ever evidence that the noxious Ed Markey/Bernie Sanders/Alexandria Ocasio-Cortez cabal controls this administration, here it is.
We all have stories from the Biden economy. I went to my local taco shop place today, and the burrito was $8.75. It was $6.50 18 months ago and $7.75 last week.
Every American, except perhaps the super-wealthy, feels the pain. And yet progressive media could not care less; in fact, they’re happy.