Breitbart: Bidenflation Worse Than Expected - 40 Year High

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.

fedup @feduppatriot29

Got that right

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.

This was the 13th straight month of inflation running higher than five percent, meaning this year’s price increases are building on top of the decades high increases of last year.

Grocery store prices were up 12.2 percent annually and one percent for the month. Energy prices are up 41.6 percent annually and 7.5 percent since May. Gasoline prices jumped 11.2 percent in June compared with May, for a 59.9 percent year-over-year increase.

Read the entire article here.

Here are some of the trending comments on social media:

RNC Research @RNCResearch

Joe Biden says "we have the lowest [inflation] rate of almost every major nation in the world." FACT CHECK: The U.S. has one of the highest inflation rates in the developed world.

🇺🇸 Lowkey Rey 2.0 🇺🇸 @AtlRey

Let's compare inflation rates. China: 2.1% Russia: 4.47% with sanctions USA: 9.1% Remember this the next time someone tells you that inflation is a worldwide problem. #BidenIsALaughingstock

Wall Street Silver @WallStreetSilv

Let's fight inflation by creating MORE inflation with free money !!! Brilliant.

Lance Gooden @Lancegooden

Oil reserves: 40-year low Inflation: 40-year high Home affordability: 40-year low Joe Biden: I did that.

Ben Shapiro @benshapiro

Biden WH's "Putin's Price Hike" line is idiotic; it totally undermines either his domestic or foreign policy. It means that in order to end inflation, we either have to end the Ukraine war (which Biden opposes) or dramatically change economic course (which Biden opposes).

Murray 🇺🇸 @Rothbard1776

9.1% inflation. Understanding the cause is crucial if you want to avoid having your remaining purchasing power and wealth destroyed in the future. We need to slash government spending, slash regulations and never allow the government to shut our businesses down again. https://t.co/2Qh3vT4Vw7

Thomas Massie @RepThomasMassie

The stimulus package that just passed is the biggest wealth transfer from common folks to the super-rich (Wall Street and bankers) in the history of mankind. Done in the name of a virus with $1200 checks as the cheese in the trap. This will be obvious in short order.

Art TakingBack 🇺🇸 @ArtValley818_

If they’re saying inflation is at 9.1% that means the number is much higher

👆👆👆👆👆👆👆👆🔥

Luke Rudkowski @Lukewearechange

Inflation is theft and you’re being robbed more than ever by the central bankers and government bureaucrats!

The First @TheFirstonTV

When inflation rises 9.1% and millions of Americans struggle to put gas in the car or food on the table...