Credit to The Australian Article by Haddon Lockyer On Wednesday, the latest inflation figures were released, revealing that America's inflation rate has yet again surpassed extreme highs of the past. Wednesday's numbers showed that the Consumer Price Index (CPI) rose to 9.1%. This number exceeds the Dow's last year-over-year inflation figure, which sat at 8.8%. However, on a bigger scale, this latest inflation figure hit a high that hasn't been reached since Jimmy Carter's presidency over 40 years ago. The CPI's numbers represent how much more or less Americans are paying for average products, tracking price change by percents. If the CPI detects a raise in pricing that surpasses wage raises, the inflation number is increased. The number has been steadily increasing since President Joe Biden took office early last year. From June 2021 to June 2022, many stores and manufacturers raised prices on their products, including:
Some of the companies that have announced higher prices are Coca-Cola, Lego, Kroger, and CVS. Credit to NY1 Wednesday's numbers come as Democrats continue to turn away from Biden and his administration's policies. Earlier, a poll from the New York Times found that nearly two-thirds of Democrat voters don't want Biden to run for re-election in 2024. When pressed about the poll, Biden refused to admit that he is losing support. Meanwhile, Republicans are looking forward to November's midterm elections as many political analysts prepare for a "red wave" of Reagan-era proportions sweeping across the country. Have comments? Share them below. The Informed Youth is America's newest conservative source for reliable and factual news, brought to you by the Nation's patriotic young people. Learn more about us by clicking here, and sign up for our mailing list below. If you would like to support our cause, click the Donate button below.
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