Via AAN:

The CPI (Consumer Price Index) a key metric used to measure inflation rocketed up on Tuesday to an astonishing 4.2 percent. Noticeably higher than 3.6 percent which had been predicted.

As CNBC reports:

Inflation in April accelerated at its fastest pace in more than 12 years as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday.

The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year earlier. A Dow Jones survey had expected a 3.6% increase. The month-to-month gain was 0.8%, against the expected 0.2%.

Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.

The increase in the headline CPI rate was the fastest since September 2008.

The stunning rise spooked the markets with the Dow Jones taking a major dive after the inflation data was released.

Whether this continues remains to be seen, but the inflation numbers are certainly an extremely bad sign for the Biden Administration and its policies.
Subscribe
Notify of
guest
9 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
John Wood
John Wood
1 month ago

Apparently no one is at the helm of the ship in this joke of an Administration. We now have the worst of the Obummer and the Carter Administrations. Lord have mercy on us.

Linda
Linda
1 month ago
Reply to  John Wood

Worse yet someone is at the helm and they haven’t a clue how to be the captain of the ship. He doesn’t have any idea how to read nautical charts and doesn’t have a clear idea of where he’s going or what the destination is. As far as I can tell he’s ignoring weather reports and is steering straight into a category 5 hurricane.

An American
An American
1 month ago

lie lie lie … fail fail fail … print some more money joe

Ida Socci
Ida Socci
1 month ago

The first thing Biden needs to do is RE-OPEN the Keystone Pipeline. The second thing is to resign and re-install Trump.

John J
1 month ago

Biden is destroying America

John J
1 month ago

Every American with a brain knew that Mr. Trump had America on the right course–Proof for sure that the slime o crats stole the election to place a moron in our White House

William P
William P
1 month ago
Reply to  John J

Right on John J. You are a clear thinker.

MANUEL A ALVAREZ
MANUEL A ALVAREZ
1 month ago

really what do you expect, printing money like its monopoly $, and no one working, as such productivity on the floor . By the way, if they the basket of products they are using to measure inflation was the same basket of Product as under the Reagan administration, inflation would be running in double digits.

Jawad
Jawad
1 month ago

We better get poor Joe Blow into the Memory Unit of a geriatric facility pronto and get a brain in charge up yonder, or we’re TOAST. A hostile world is watching and seeking opportunities to GET us.