As the Biden Presidency continues on, inflation rises more and more each day.
Fox News reported, Wholesale prices rose at the fastest pace on record in December, the latest evidence that inflationary pressures are continuing to plague the U.S. economy.
The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, surged 9.7% in December from the year-ago period. It marked the highest figure on record since the government began tracking the data in 2010.
Some areas show promise in decelerating prices, but unfortunately it doesn’t yet appear to be enough. Good prices dropped by 0.6% in December but not after having raised 1.2%. energy prices dropped by 3.3% surpassing their previous gain of 2%.
Consumer prices have risen by 7% in December according to a Labor Department report. This is the highest hike since 1982, only beat out by 0.1%.
The Biden Administration end media continue to center themselves in fairy-tale land, pretending that the economy is already in a great place, but is headed for better.
December articles from Bloomberg and the New York Times were headlined “The Biden economy is actually doing pretty well” and “Biden sees booming economy” during the month of record inflation.
Biden said “We’re experiencing the strongest economic recovery in the world” and BBC actually seemed to credit Trump with much of the economic recovery in their fact check.