It's the fastest increase in prices since November 1981, and above what economists had expected. The increases were broad-based: Rent, new and used vehicles, car insurance and medical care all rose in June, the government report said.
Core inflation, which strips out volatile food and energy prices, rose 5.9% over the last 12 months, slowing its pace from May. "Price pressures have broadened to virtually every major line item within the inflation categories," Gargi Chaudhuri, Head of iShares Investment Strategy Americas at BlackRock, said in a research note."Core inflation is still high, but the drastic difference between headline and core shows how much the recent move in prices has been driven by food and energy price volatility resulting from supply shortages," Chaudhuri added.
Nonetheless, rising prices have caused a sharp drop in confidence in consumers. Forty percent of U.S. adults said tackling inflation should be a top government priority this year in a June AP-NORC poll, up from just 14% in December. Inflation has become the most pressing economic concern for Americans — as well as a political albatross for the Biden Administration. The Federal Reserve has beenThis is a developing story and will be updated. The Associated Press contributed reporting.
Keep your eyes on the prize mi Amigos - Democrats own highest inflation, own highest ⛽ gas prices, own highest crime in US Cities ever and zero baby 🍼 formula and they don't have any time left to correct any before November.
You’re doing a hell of a job destroying the country, that’s about it
'We have a lot of work to do, together, we will do the work that we need to do to get the work done, together, and we will work on that work together getting it done towards the goal of working together.' - Kamala Harris (expert orator)
“Top priority” inflation running rampant since last yr. How nimble is this admin in addressing issues… gas prices which we were widely told couldn’t by addressed by admin now they are trying to take credit for a measly 30cent drop they managed by dumping nat reserves abroad?
Veep Cannabis.
Nasrallah the new equation Karish And after Karish And after Karish If Lebanon does not get its right No one will be able to extract Gas and oil and sell it We have reached the end of the line We have all the coordinates for all fields and platforms
Time to end affirmative action
That's interesting. Your policies say otherwise. Worst administration in history
WE'RE NUMBER ONE!!!
There’s that 9.1% again. Should be trending as many times as I’ve seen it so far.
I love how this is BREAKING news as if we ain't all been buying $27 chicken fingers already. It's like seeing BREAKING: Summer is hotter than Spring. Thanks for the REVEAL lol.
Properly adjusted for the Woke, Socialist, Marxism practicing Biden Administration the actual rate of inflation is 20.1%
pUtIN’s PrICe HIKe
... inflation is the sword on which the governing bodies are choosing to fall on... unapologetically...! The great transition isn't worth it if you eat your own flesh as a nation to do so. Lame hath no greater friend than POTUS ...
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