This article originally appeared on Fox Business on April 13, 2022.
Inflation continues to hit record highs under Joe Biden’s dreadful leadership. I’m not surprised. Are you?
On Tuesday, the Bureau of Labor Statistics (BLS) announced that the Consumer Price Index (CPI) rose a staggering 8.5 percent in March from a year ago, the fastest annual CPI hike in more than 40 years. The CPI surge even outpaced the gloomy predictions of economists, who expected to see an 8.4 percent increase of consumer prices last month.
It does not appear that things will be getting better anytime soon.
On Wednesday, the BLS shared their latest data for the Producer Price Index (PPI), which measures the prices paid by wholesalers for their goods. Over the past year, it surged by 11.2%, the highest yearly growth on record. The prices wholesalers pay inevitably make their way to retail prices at gas pumps, grocery stores and just about everywhere else consumers shop.
And it doesn’t matter what you’re buying — retail prices are already surging across the board.
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