(DCWatchdog.com) – HAPPENING NOW: In just the latest assault on the wallets of hard-working Americans, the just-released economic report on inflation shows that Americans have been slammed yet again.
As the Daily Caller reports:
“The Consumer Price Index (CPI) increased 0.6% in January, bringing the key inflation indicator’s year-over-year increase to 7.5%, the U.S. Bureau of Labor Statistics (BLS) reported.
“The CPI remained at its near four-decade high throughout January, growing 7.5% on a year-over-year basis, the BLS reported Wednesday…
“The core price index, which measures inflation of goods less food and energy, increased 0.6% in January, just the same as the December 2021 figure, the BLS reported. Food prices grew 7.0% on a year-over-year basis as of January, the BLS reported, and energy prices soared 7.5%.” [emphasis added]
Clearly, Americans are getting crushed by rising costs for everything from food and energy to housing and transportation – the necessities of life. For several generations of Americans who didn’t come of wage-earning age until after the early 1980s, they’ve never experienced this kind of economic pain.
How long will it go on? That’s the big question.
This is a breaking news report about the American economy…
Inflation pushed higher in January, with the U.S. consumer price index rising 7.5% from a year earlier, the largest 12-month increase since February 1982. https://t.co/yDZFuyottr
— Amara Omeokwe (@TheAmaraReport) February 10, 2022