On Friday, Kamala Harris finally admitted the damage that high inflation is having on everyday Americans. So much for inflation just being “transitory”.
“The bread cost more, the gas costs more, and we have to understand what that means. That’s about the cost of living going up. That’s about having to stress and stretch limited resources,” she said.
“When you see these prices go up, it has a direct impact on the quality of life for all people in our country. So it’s a big issue, and we take it seriously,” she added.
.@VP Kamala Harris: “The bread cost more, the gas costs more, and we have to understand what that means. That’s about the cost of living going up. That’s about having to stress and stretch limited resources.” https://t.co/ac0D1Jf2az pic.twitter.com/Afj5l8jfKZ
— The Hill (@thehill) November 12, 2021
As we reported earlier in the week on Trending Politics, the Bureau of Labor Statistics released its Consumer Price Index (CPI) report for October and, far from showing that Bidenflation is the “transitory,” minor problem that Team Biden pretend it is, the report shows that inflation just keeps getting worse.
According to the November 10th report, the CPI rose 6.2% in October, from a year ago, and rose 0.9% in October alone. Both numbers were higher than what analysts predicted. Those estimates were about 5.9% year over year and 0.6% for the month.
And it’s not just a few items that are increasing. Food, energy, shelter, vehicles, and many other items all jumped in price, as the report describes:
The monthly all items seasonally adjusted increase was broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors. The energy index rose 4.8 percent over the month, as the gasoline index increased 6.1 percent and the other major energy component indexes also rose. The food index increased 0.9 percent as the index for food at home rose 1.0 percent.
The index for all items less food and energy rose 0.6 percent in October after increasing 0.2 percent in September. Most component indexes increased over the month. Along with shelter, used cars and trucks, and new vehicles, the indexes for medical care, for household furnishing and operations, and for recreation all increased in October. The indexes for airline fares and for alcoholic beverages were among the few to decline over the month.
And while those decimal percentages might sound small, the continued drumbeat of inflation has added up over time, pushing this year’s inflation ever higher. In fact, as the Burea of Labor Statistics describes in the report, this level of inflation is the worst America has seen in decades:
The all items index rose 6.2 percent for the 12 months ending October, the largest 12-month increase since the period ending November 1990. The index for all items less food and energy rose 4.6 percent over the last 12 months, the largest 12-month increase since the period ending August 1991. The energy index rose 30.0 percent over the last 12 months, and the food index increased 5.3 percent.
There’s nothing much else to say, other than……Let’s Go Brandon