Deck the halls with more inflation, fa la la la la.
It looks like Uncle Joe’s price hike isn’t going anywhere anytime soon - despite the most optimistic projections of certain economic “experts” who continue to be stymied by the cost of goods continuing to rise, and the buying power of Americans' wallets continuing to fall.
Wholesale inflation - the price producers pay for stuff before it hits the shelves, and a pretty good projector of consumer inflation - increased another 0.3% in November, up 7.4% from this time last year.
Related: WH: Biden On Gun Restrictions - ‘Not Going To Take His Foot Off Of The Gas Pedal’
While energy costs fell 3.3%, that was totally negated by food prices increasing 3.3%, largely thanks to a 38% hike in vegetable prices. In face, November marked the third month in a row that overall inflation rose 0.3%, even as the feds raise interest rates to try and curb spending and force demand to fall. While wholesale inflation is down from its 11.7%, it still sits stubbornly at historic levels, hitting Americans in the bank account just in time for the holidays.
The latest consumer price index is due out on Tuesday, where Americans will find out just how far we have to bend over and grab our ankles.
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