In case you haven’t noticed, everything — I mean everything — at the grocery store, department store, etc., is still ridiculously expensive. While the Biden administration ducks, dodges, and spins the continuous cycle of dismal inflation-related financial news, the numbers simply don’t lie. We’re in for a rough ride.
According to Fox Business, wholesale inflation, also known as the Producer Price Index (PPI), rose faster than expected in November. The marker measures inflation at the level at which it truly counts — before products hit the store shelves.
While President Joe Biden was busy trading one of the most dangerous terrorist arms dealers in modern history for a woke former WNBA player because she’s black and gay and apparently deserves to be released before an imprisoned former U.S. Marine, the PPI was moving in the wrong direction on his watch. Again.
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From Fox Business:
The Labor Department said Friday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.3% in November from the previous month. On an annual basis, prices soared 7.4%. That is down from the 8% reading recorded in October and marks the lowest reading since May 2021.
Still, those figures were both higher than the 7.2% headline figure and 0.2% monthly gain forecast by Refinitiv economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with the most aggressive interest rate hike campaign since the 1980s.
Embarrassingly, on Dec. 1, Biden said: “We are seeing initial signs that we are making progress in tackling inflation, even as we make the transition to more steady, stable economic growth. That’s good news for the American people, and further evidence that my economic plan is working.”
Whoops. Another lie.
Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office, explained to Fox Business that relative to a year ago, the country is “headed in the right direction,” but admitted that inflation is “sticky,” adding that it’ll “take time before we see it normalize.”
I don’t know about Loewengart, but I have yet to feel like I’m “headed in the right direction” at the grocery store when I literally gasp at the receipt, which was about half as much under the former administration for the same amount of goods.
As Democrats double down on spending MORE MONEY, today's #PPI report showed wholesale inflation rose higher than expected.
It's up 7.4% over last year, which was up 9.9% over the year before. Americans can't afford MORE #Bidenflation.
— Rick Scott (@SenRickScott) December 9, 2022
The PPI is the predecessor to the Consumer Price Index (CPI), which will be released next Tuesday. And experts believe it’s gonna knock our socks off.
Fox Business noted, “Economists surveyed by Refinitiv anticipate that inflation rose 7.8% in November, up slightly from the 7.7% in October.”
That means inflation is here to stay for the time being, and it sure as heck isn’t “moderating,” as the Biden administration would love to gaslight you into believing.
Oh, and forget about the fantastic Christmases you had with your family in the past — it’s not gonna happen under this clown presidency and administration.
A recent Fox News report revealed that this year, under Biden, Americans will be forced to divert Christmas funds to supplement record-high energy costs, and that’s especially the case in the Northeast, where home heating oil rationing and diesel shortages are taking a toll on the pocketbooks of millions of hard-working Americans.
Fox News wrote:
According to survey data by the nonpartisan National Retail Federation, the average consumer expects to spend $832 for “core holiday items” in 2022, including gifts, decorations, and holiday meals. That’s down from $879 in 2021, a decline of more than 5%.
The expected drop in spending is due to increased costs for other household items, including basics like food and electricity.
Silver lining? Since we can’t afford presents and beef tenderloin this year thanks to Biden and the Democrats breaking the economy over and over again, perhaps we can get back to the true meaning of Christmas. Gather with your family and friends, and appreciate the true meaning of the season.
In a few years, when we hopefully elect a Republican to lead the White House, we can return to the abundant, joyful Christmas seasons we once enjoyed instead of standing in line at the food pantry hoping it doesn’t run out before your number is called.
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