The report on inflation was released this morning by the BLS and it shows the price of goods in December are 6.5% greater than the price of goods a year ago.
The BLS released its monthly results for inflation and the results were still terrible.
Core prices increased 0.3% on a monthly basis in December, after growing 0.2% in November, as overall prices rose by 6.5% year-over-year, matching investor expectations as energy and gas prices declined, according to Bureau of Labor Statistics (BLS) data released Thursday.
Overall, prices declined by 0.1% on a monthly basis in December, while “core prices,” a measure that discounts food and energy prices, climbed 5.7% year-over-year, matching investor expectations, the BLS reported in its monthly Consumer Price Index (CPI). After two back-to-back inflation readings that were lower than investor expectations in October and November, investors had hoped the Federal Reserve would further slow its pace of aggressive interest rate hikes designed to blunt inflation, MarketWatch reported.
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Earlier this year we reported on the inflation rate in September and compared the 8.2% to the last 40 years of inflation. 6.5% is still greater than any period since the early 1980s.
Since Biden took power inflation has sky rocketed.
Zerohedge reports on today’s news as follows:
Services CPI Soars To Highest In 40 Years, Real Wages Shrink For 21st Month In A Row
This is not good news for hard-working Americans.