Bidenomics continues to be a bust…
According to a Labor Department report released Tuesday morning the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries, and rent, rose 0.1% in November from the previous month — slightly more than expected.
From Fox Business:
Prices climbed 3.1% from the same time last year, which is in line with estimates by Refinitiv economists, and down from the 3.2% recorded in October.
Other parts of the report also pointed to cooling price pressures within the economy. Core prices, which exclude the more volatile measurements of food and energy, climbed 0.3%, or 4% annually. Both of those figures are in line with estimates from Refinitiv economists.
Still, the report indicates that while inflation has fallen considerably from a peak of 9.1%, it remains well above the Federal Reserve’s 2% target.
Last week, it was widely reported that Joe Biden has started to drop mentions of “Bidenmoics” from his remarks and public appearances. Consensus among Democrats is Biden’s economic recovery message isn’t resonating with most Americans; inflation remains a top concern.
This story is developing…
Inflation worries remain across income brackets, but politics is top concern for affluent: Edelmanhttps://t.co/aKr7vXONE3
— FOX Business (@FoxBusiness) December 12, 2023