U.S. CPI rose again, this time by .4 percent. According to federal reporting, that puts inflation at 6.0 percent in Feb.
Inflation was at 1.4 percent during Donald Trump’s presidency.
6% inflation 6% inflation
last year: now: pic.twitter.com/1mj7fYWlUD
— Not Jerome Powell (@alifarhat79) March 14, 2023
The annual inflation 6.0 percent rate is down from 9.1 percent in July 2022. But it is still higher than any time since the 1980s.
Real wages also dropped for the 32nd month in a row.
The index for shelter was the largest contributor to the monthly all items increase, accounting for over 70 percent of the increase, with the indexes for food, recreation, and household furnishings and operations also contributing. The food index increased 0.4 percent over the month with the food at home index rising 0.3 percent. The energy index decreased 0.6 percent over the month as the natural gas and fuel oil indexes both declined.
The index for all items less food and energy rose 0.5 percent in February, after rising 0.4 percent in January.
- The shelter index continued to increase, rising 0.8 percent over the month. The index for rent rose 0.8 percent in February, while the index for owners’ equivalent rent increased 0.7 percent over the month. The index for lodging away from home increased 2.3 percent in February. The shelter index was the dominant factor in the monthly increase in the index for all items less food and energy.
- Among the other indexes that rose in February was the index for recreation, which increased 0.9 percent, and the index for household furnishings and operations which increased 0.8 percent.
- The airline fares index rose 6.4 percent, ending a string of four consecutive declines. The index for motor vehicle insurance, the index for apparel, the index for personal care, and the index for new vehicles also increased in February. In contrast, the index for used cars and trucks fell 2.8 percent in February, continuing a recent downward trend.
- The medical care index fell 0.5 percent in February, after falling 0.4 percent in January.
- The index for physicians’ services continued to decline, falling 0.5 percent after declining 0.1 percent in January. The hospital services index and the prescription drugs index were unchanged in February.
Everything has soared thanks to Biden’s disastrous economy.