(RightIsRight.co) – BREAKING NOW: While slightly better than last month and better than the “experts” predicted, today’s monthly inflation report for the United States proves that inflation is still skyrocketing with Joe Biden’s policies and remains at a four-decade high. As such, more than half of all Americans have never experienced inflation at the current astronomically high level.
As the Daily Caller notes in “Inflation Rages On As Gas, Food Prices Squeeze Americans“:
“Inflation remains at historic highs, at 8.5% from July 2021 to 2022, according to a Bureau of Labor Statistics (BLS) report released Wednesday, as the Biden administration takes a victory lap on lowering energy prices.
“The Consumer Price Index (CPI) didn’t change from June to July, according to the BLS. From May to June, the CPI, which represents the average change in the price of consumer goods, rose by 1.3%.” [emphasis added]
As for the “falling price of gasoline” that the Biden administration keeps pointing to as a great success, context matters.
“While energy prices have come down substantially from their peak of over $5 per gallon in June, they had only fallen to $4.03 per gallon as of Tuesday, still 26% higher than they were last year, according to data from the American Automobile Association (AAA). While the AAA did credit the falling cost of gasoline in part to a decrease in oil prices, reduced demand as consumers avoided the pump was also a major factor, according to an AAA press release.”
THIS IS A BREAKING NEWS REPORT FROM RIGHT IS RIGHT.
What has been your experience? Have you noticed the price of gasoline easing slightly where you live? What about the cost of groceries and other essential items? Please share your thoughts and opinions by emailing [email protected]. Thank you.