The Consumer Price Index surged by the fastest rate since 2008 in April according to new statistics released by the federal government; raising serious concerns over inflation as the government spends trillions in new debt.
“Inflation in April accelerated at its fastest pace in more than 12 years as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday,” reports CNBC.
“The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year earlier. A Dow Jones survey had expected a 3.6% increase. The month-to-month gain was 0.8%, against the expected 0.2%,” adds the financial website.
“As the cyclically-sensitive components of CPI are still rising at a modest pace, we doubt this report will change the view of officials that inflationary pressures are ‘largely transitory,‘” wrote Michael Pearce, senior U.S. economist at Capital Economics. “It’s just that there’s a lot more ‘transitory’ than they were expecting.”
This is a developing story. Check back for updates.
BIDEN in NEW HAMPSHIRE: ‘What You Do Here in Iowa is Going to Set the Tone’
Former Vice President Joe Biden left audience members scratching their heads in New Hampshire over the weekend; confusing the northeast state for Iowa -approximately 1,000 miles away.
“The primary race for the United States presidency… You have an incredible obligation, not to me at all, but to yourselves. What you do here in Iowa […] is going to set the tone,” said Biden before correcting himself.
“New Hampshire, the primary in New Hampshire,” he added.
Joe Biden says he is in Iowa when he is actually in New Hampshire.
Iowa and New Hampshire are 1,000+ miles away from each other.pic.twitter.com/Fh3Nl02fde
— Tommy Pigott (@TommyPigott) December 8, 2019
Biden made a similar mistake earlier this year; confusing New Hampshire for the neighboring state of Vermont.
“I’ve been here a number of times…I love this place. Look, what’s not to like about Vermont in terms of the beauty of it?” Biden told reporters.
Biden, who is in New Hampshire, thinks he is in Vermont
At some point, the media is going to have to stop calling this "gaffes" https://t.co/Dhno1WN2rU
— Ryan Saavedra (@RealSaavedra) August 24, 2019
BIDEN in PENN: ‘Rapid Results Testing Contract, Contract Contact Tracing, Widely Available Personnel!’
Former Vice President Joe Biden continued his gaffe-filled campaign at a speaking event in Pennsylvania Wednesday; bizarrely stating the country needs “contract tracing capacity widely available personnel.”
“Here comes the rapid results testing Contract Contract Contact Tracing Capacity, widely available personnel protective equipment,” said Biden.
Must have been a typo on the teleprompter. pic.twitter.com/45snKpw8RM
— Benny (@bennyjohnson) June 17, 2020
Watch Biden’s comments above.