A rising inflation trend continues as prices rose by 3.6% in April from a year ago, reflecting increases in both goods and services, according to data released Friday by the Bureau of Economic Analysis.
Prices rose 0.6% in the past month in a key inflation indicator, the data showed. But consumer spending fell 0.1 percent in April compared to last month. Energy prices increased 24.8% while food prices increased 0.9%.
The price index, considered a measure for inflation, increased 3.1% in April from a year ago, excluding food and energy. The index was forecast to increase 2.9% after rising 1.9% in March. The Fed considers 2% to be healthy.
The Federal Reserve has said that a rise in inflation will be temporary, with prices dropping as the pandemic subsides. The Fed has indicated it is in no rush to raise interest rates.
After-tax income slid 15.1% in April from the record level in March that had been hiked by the billions of dollars in stimulus payments.
Personal income declined 13.1%, but that was less than the predictions of 14%. The government stimulus checks earlier this year had pushed personal income up 20.9% in March.
After taxes and other withholdings, disposable personal income dropped 14.6%.
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Just as Democrats have an inflated notion of their importance to the country that quality permeates everything they touch. Look at the inflated vitriol against Donald Trump, their reasoning behind and the effect of the Washington riot, the rhetoric of the Wuhan Virus, so it is only natural the the economy will suffer inflation because Democrats never understand how it really works but follow the same disproven theories time and time again..
THEY DON’T care what happens to US as a nation, CAUSE THEY HONESTLY DESPISE US..
Just think, prices have already gone up, but they will be going up even more when Biden raises taxes on companies and corporations, as this will be passed onto us the consumer. Jimmy Carter economy revisited. Inflation and rising prices through the roof. Double digit inflation is coming, just like under the peanut farmer.
Exactly. Gas prices go up. SO INEVITABLY will food and other items, DELIVERED to stores (and your homes)..
The Dishonorable, Socialist Democrat Party game plan is to lie, cheat and steal elections in order to take total control of the American people, increase Taxes on everything and bring American commerce and economy to its knees.
Then access power and retain it by any means available –
no matter the costs to the people, the government or the nation.
Margaret Thatcher once said this about socilism, ” Socialism is fine until you run out of other people’s money. “
Must be from that horrible economy he inherited from Trump. That has become his go-to explanation for everything going wrong now, just as Obama did with Bush. I heard a report on the radio the other day that he is blaming Trump for the border situation./ Toddlers in adult bodies—pointing fingers, blaming, and calling names. Such a dazzling display of intellect.
Extrapolate that out, and it is over 43% per year compounded monthly.
Thanks, Uncle Joe you moron and thank all those BHO czars you called back to the White House, especially the Puppet Master.
I’m sorry to say that this is just the beginning. In less time than we’d like to imagine it is likely we’ll be seeing double digit inflation. Food, fuel, and basic living expenses are going to go higher.
The saddest part is there are still a whole bunch of die hard Biden fans who think this is all good because at least the guy in the White House isn’t sending out ‘rude tweets’. Fools.
AND when inevitably this TANKS our economy, the dems in office will LAUGH, as we all have to strugle to go on welfare etc…
jimmy carter on roids.