Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent [Joe] Biden’s approval rating tumbling. The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released Wednesday, marking the fastest increase since June 1982, when inflation hit 7.1%.
The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.5% in the one-month period from November, Fox Business reported.
The source additionally reported:
The inflation spike has been bad news for President Biden, who has seen his approval rating plunge as consumer prices rose. The White House has blamed the price spike on supply-chain bottlenecks and other pandemic-induced disruptions in the economy, while Republicans have pinned it on the president’s massive spending agenda.
CNN’s John Berman on Wednesday, reported over the new inflation numbers under Joe Biden, expressing, “Wow!”… “Yikes!”.
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This is an excerpt from The Freedom Times.
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