Thanks to Senile Biden and his fellow libtards in Congress surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households. Consumer prices soared 9.1% compared with a year earlier, the biggest 12-month increase since 1981.
WASHINGTON (AP) — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession.
The government’s consumer price index soared 9.1% over the past year, the biggest yearly increase since 1981, with nearly half of the increase due to higher energy costs.
Lower-income and Black and Hispanic American have been hit especially hard, since a disproportionate share of their income goes toward essentials such as transportation, housing and food. But with the cost of many goods and services rising faster than average incomes, a vast majority of Americans are feeling the pinch in their daily routines.
For 72-year-old Marcia Freeman, who is retired and lives off of a pension, there is no escape from rising expenses.
“Everything goes up, including cheaper items like store brands,” said Freeman, who visited a food bank near Atlanta this week to try and gain control of her grocery costs.
https://apnews.com/article/inflation...79f62e980095?t
ANOTHER RECORD - Inflation hits another NEW 40-year high under Senile Biden.
