(DCWatchdog.com) – BREAKING NOW: Just moments ago, the United States Commerce Department announced that inflation is now the worst in 40 years.
With inflation running higher than anything seen in four decades, several generations of Americans — nearly half of the population — have never experienced the level of inflation that is currently punishing American consumers.
As National Review reports:
“A key inflation metric monitored by the Federal Reserve soared 6.4 percent in February compared to a year ago, reaching a new 40-year high.
“The latest price surge, which affected the price of fuel, groceries and other consumer essentials, represents the largest year-over-year increase since January 1982, according to data released by the Commerce Department on Thursday.” [emphasis added]
The only bright spot in the report from the Commerce Department is that “Americans’ overall incomes rose 0.5% in February, the highest gain since November and up from just 0.1% in January. Wages and salaries jumped 0.8%, the most in four months.”
Still, analysts say that even with higher wages, Americans are falling behind because of skyrocketing inflation that is outpacing increased paychecks.
This is a breaking news report from DC Watchdog.
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