Bidenflation Much Worse Than Expected: Consumer Prices Rise 9.1%

Inflation in the United States, already at 40 year highs, rose to an annual rate of 9.1 percent in June, the Department of Labor said Wednesday. This is the highest rate since 1981.

Compared with a month earlier, the Bureau of Labor Statistics’ Consumer Price Index was up 1.3 percent.

Economists had expected CPI to rise at an annual rate of 8.8 percent, up from 8.6 percent in May. They expected a month-over-month increase of 1.1 percent.

Inflation has American families hard by raising prices for everyday necessities like food, gasoline, housing, transportation, and utilities. Huge increases in the price of gasoline in June, which hit new all-time highs several times during the month, started to sap household and business spending on other items.

Economists look to a sub-category of inflation that excludes food and fuel prices as a better guide to future inflation than the headline number. This was up 5.9 percent in June compared with 12 months earlier. For the month it rose 0.7 percent. Both were higher rates of inflation than expected.

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