(The Center Square) – Consumer prices are still on the rise, according to newly released federal inflation data.
The U.S. Bureau of Labor Statistics on Wednesday released its Consumer Price Index, a key marker of inflation, which showed a 0.3% increase last month.
The price increase is lower than the breakneck inflation earlier in President Joe Biden’s term, but still higher than what economists consider healthy.
“The index for shelter rose in April, as did the index for gasoline. Combined, these two indexes contributed over seventy percent of the monthly increase in the index for all items. The energy index rose 1.1 percent over the month,” BLS said. “The food index was unchanged in April. The food at home index declined 0.2 percent, while the food away from home index rose 0.3 percent over the month.”
Economists have continued to express concern about elevated inflation, suggesting the U.S. Federal Reserve will not be able to lower interest rates under the current conditions.
“Just to reiterate: inflation is not trending to 2.0%, it was never trending to 2.0%, and it won’t begin trending to 2.0% until the Fed stops financing the Treasury’s multi-trillion-dollar deficits; everyone who told you we were moving towards the 2.0% target knowingly lied…” Heritage Foundation Economist E.J. Antoni wrote on X, formerly known as Twitter.
The CPI comes on the heels of a new Producer Price Index figure, another key inflation indicator, which saw a 0.5% increase last month, more than experts predicted.
Meanwhile, small business owners are struggling with inflation. A recently released survey from the National Federation of Independent Businesses showed that small business owners cite inflation as their top concern more than any other issue.
They are also pessimistic about the future of the economy, as The Center Square previously reported, with small business optimism levels at “the 28th consecutive month below the 50-year average.”
Overall, prices are up about 20% since President Joe Biden took office, making the issue a consistent thorn in Biden’s side this election year.
“I’m looking forward to Biden explaining to the American people why he opened the border, caused massive inflation, and treated Israel worse than Iran,” Sen. Tom Cotton, R-Ark., wrote on X.
The destructive Democrat Party’s philosophy; Higher taxes, Higher cost of Everything. Plus their 11 MILLION imported illegal immigrants that we the U.S. taxpayers are forced to support @ $2,750,000,000 A month. Every Month.
The treasonous, corrupt, sock-puppet president Joe B. OBiden is so demented he doesn’t even know what day of the week it is.
This treasonous, corrupt, sock-puppet president Joe B. OBiden just obediently just obeys what he is told to do and say by his traitorous masters.
The puppet president Joe B. OBiden may be incompetent, corrupt, demented and an Obama’s puppet, but his masters are not stupid. They are just counting on the American people to be very stupid.
The Democrat Party is not stupid; Its treachery is very brilliant. The problem we are facing is that half of the U.S. citizens ARE stupid. This enemy from within is doing EXACTLY what they have set out to do and people are too foolish to see that they are being lead to slaughter.
They know the American citizens are way past the stupid point of no return! Just look at what coming out of the indoctrination centers, they claim are colleges!
ALL future dem voters!! Makes me sick.
When the prices inflates 25% at least on everything during the first 3 years in office, then only 2 % the last year in office, it is not a victory unless you reverse the damage you created. The only thing that will get you back to the original cost of items BEFORE Joe got elected is called DEFLATION which will NEVER occur when politicians are too timid and cowardly to cut costs and raise taxes. Printing their way back to get re-elected has always been the fallacy of choice by men who claim to be leaders, but just follow the crowd’s flavor of the day that leaves us all in debt tomorrow.
ESPECIALLY WHEN we are forking over BILLIONS In tax dollars, each year, to FUND ALL these illegal invaders!