The White House said the CPI report does not reflect “the full impact of nearly 30 days of decreases in gas prices.” Economics Inflation
US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already 'Out-of-Date'
According to the latest Bureau of Labor Statistics Consumer Price Index report, U.S. inflation remains scorching hot as it has risen at the fastest yearly rate since 1981. June’s CPI data reflected a 9.1% year-over-year increase, even though a number of bureaucrats and economists thought May’s CPI data would be the record peak.Inflation continues to climb higher in America as the CPI numbers for June show another monthly increase. “Over the last 12 months, the all items index increased 9.
notes. “The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors.” The inflation increase in June was yet another record-setting spike as it rose at the fastest pace since November 1981.the subject. The White House also claimed that the data is already out of date and the CPI report does not reflect “the full impact of nearly 30 days of decreases in gas prices.
“Importantly, today’s report shows that what economists call annual ‘core inflation’ came down for the third month in a row, and is the first month since last year where the annual ‘core’ inflation rate is below six percent,” Biden’s statement detailed on Wednesday. The U.S. Consumer Price Index report published on Monday shows a jump to 9.1% after economists expected it to come in at 8.8%, according to data compiled by Bloomberg.
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