BIDENOMICS: August Core Inflation Biggest Monthly Gain This Year – “Hotter Than Expected” – Gas Prices Soar
Bidenomics = High mortgage rates, high inflation rates, collapsed banks, expensive groceries, record high rent, and dwindling retirement accounts.
The Consumer Price Index (CPI) rose 0.6% in August – the biggest monthly gain for the year.
Energy prices soared as real wages declined – Bidenomics!
Per CNBC:
- The consumer price index rose 0.6% in August, its biggest monthly gain of 2023. The inflation gauge rose 3.7% from a year ago.
- The core CPI increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%. Fed officials focus more on core as it provides a better indication of where inflation is heading over the long term.
