Inflation increased to 5.4% in December, the Office for National Statistics said on Wednesday, the highest rate since 1992. The biggest price rises were for transportation, food and beverages, furniture, housing and household goods. Prices are now rising much faster than pay, making it more difficult for households to make ends meet. Wages increased at an annual rate of just 3.8% in December. Much more pain is on the way.
"It's no secret that inflation is going to rise even further," Paul Dales, chief UK economist at Capital Economics said on Wednesday. He expects consumer price inflation to top 7% in April, and to stay above 4% for all of this year.Gas prices are in the danger zone. Biden can't do much about itRead MoreIn December, the Bank of England became the first major central bank to hike interest rates since the start of the pandemic.
Yet the GOP would have you believe inflation is only a problem for America & Biden is to blame🤷♂️ World crisis has caused inflation to rise across the globe & until this pandemic is under control it will remain a problem! Passing BBB would help reduce it & the GOP know this🤷♂️
That damn Biden! 🤦♀️🤪😂
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