Once again, another month shows inflation at it’s highest rate in 40 years thanks to Joe Biden, communist Democrats and the others intent on destroying this country. December’s inflation rate (year over year) 7 percent, the highest increase since 1982. All of this is happening as shelves in stores are once again empty, gas prices soar and the country’s economy is in the toilet. Oh, did I mention there were 1.43 million new COVID cases on Monday?
President Biden on Wednesday insisted he was “making progress” on inflation — despite data showing it continued to grow last month for an annual jump of 7 percent, the highest increase since 1982.
The White House highlighted falling fuel costs in December and a lower overall monthly increase of .5 percent for common goods and services, versus .8 percent the prior month, even though the cumulative annual increase grew from 6.8 percent.
“Today’s report—which shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling—demonstrates that we are making progress in slowing the rate of price increases,” Biden said in a statement.
Although Biden claimed food prices were falling, the new Consumer Price Index data indicate that food prices actually increased by .5 percent from November to December, up in total 6.3 percent over 12 months. The monthly rate of increase slowed from .7 percent in November.
Energy costs did fall .4 percent in December, according to the new data, driven by fal
ling gasoline and natural gas prices. But energy costs remain 29.3 percent higher than last year, according to the new data.