The Labor Department announced this week that the consumer price index (CPI), which measures what consumers pay for goods and services, rose four percent last month compared to the same month a year prior.
Compared with March, the CPI jumped 0.1 percent last month while core CPI, which excludes food and energy prices, increased 5.3 percent on a 12-month basis. Compared to a month earlier, core prices increased by 0.4 percent.
These latest figures align with what many economists where predicting. They expected a 4.1 percent increase for headline inflation and a 5.3 percent increase for core inflation.
Both core and headline inflation were down slightly compared to a month earlier, with CPI increasing by 4.9 percent in April on a 12-month basis and core CPI increasing by 5.5 percent.
“On a month-to-month basis, CPI’s gain is down from 0.4 percent in April,” reports explain. “Core inflation’s monthly rate, however, is unchanged from April’s 0.4 percent.”
(Related: Because of inflation, some families are barely able to afford even one meal per day for their families – but at least the globalists were able to buy new yachts…)
Despite continual Fed interest rate increases, inflation is still out of control
Since December, core inflation has been hovering at or around 0.4 percent, which suggests the Fed’s efforts to rein it in through steady interest rate hikes is not working. As has been the trend for years now, inflation continues to rage month after month while steadily increasing rather than going down like the Fed promised.
Both the Fed and many economists were insistent that hiking up interest rates would tame inflation, but this has not occurred. If anything, the quality of life for the average American who is not part of the billionaire class continues to decline precipitously while the clowns at the Fed promise a soon return to “normalcy.”
Fed officials are now claiming that by the end of the year, PCE inflation will drop to 3.5 percent. It would be better for Americans to drop the Fed entirely and return to sound money, which is the only real cure for inflation.
“McCarthy, Democrats, and the House GOP voted to go $4 TRILLION more in national debt in two years,” one commenter wrote about how things are going to get a whole lot worse in the months and weeks to come.
“McCarthy and the GOP normalized pandemic-level spending. The national debt will destroy this nation (in addition to the iniquity, sin, and perversion). Enjoy the overheated stock market because, once it starts to crash, the whole enchilada will crater.”
Another responded to this that in three years or less, the United States “will not be the United States anymore.” The long-awaited crash will finally arrive, followed by lights out for this wicked nation and its wicked rulers.
“If inflation is really just four percent, then why are most items in the grocery store up between 10-80 percent?” someone else asked. “Lumber is up 40 percent, cars up 30-50 percent, most home improvement products are up 40 percent, gas up 50 percent. Not to mention that utility, garbage, insurance, water, and property taxes are out of control.”
“This is just another fake government report,” this same person added about the nonstop economic lies coming from the White House.
Another person pointed out that the Biden regime continues to send billions to Ukraine while Americans struggle just to eat, expressing perplexity that there are no protests or riots in the streets as a result.
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