U.S. Inflation Rate Surges to 9.1%, The Highest in More Than 40 YearsChris Menahan
Jul. 13, 2022
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The record inflation we were assured was "temporary" is only getting worse.
From Bloomberg, "US Inflation Quickens to 9.1%, Amping Up Fed Pressure to Go Big":
US inflation roared again to a fresh four-decade high last month, likely strengthening the Federal Reserve's resolve to aggressively raise interest rates that risks upending the economic expansion.
The consumer price index rose 9.1% from a year earlier in a broad-based advance, the largest gain since the end of 1981, Labor Department data showed Wednesday. The widely followed inflation gauge increased 1.3% from a month earlier, the most since 2005, reflecting higher gasoline, shelter and food costs."[T]he June 2022 Annual ShadowStats Alternate 'Corrected' CPI Inflation jumped to a new 75-Year high of 17.3%, from 16.8% in May, on top of resurgent energy prices," ShadowStats reports.
Janet Yellen said last year that the inflation we were experiencing was "temporary" and predicted it would improve "by the second half of next year."
We're there now and smashing new records.
Even though our economic outlook looks bleak, Americans can take solace knowing we're sending endless billions of dollars to Ukraine to defend the Liberal World Order.
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