United States Inflation during August Shows 8.3% Year-Over-Year Growth
According to the Consumer Price Index report for August, inflation is up 8.3% from the same point in 2021.
In a report by One America News Network, economists were originally projecting an 8.1% year-over-year inflation growth rate. The Labor Department published the report on September 13, which indicated a 0.1% month-to-month growth rate from July to August.
The CPI measures an array of prices for the average basket of goods. However, core inflation does not include energy and food. The report indicated that inflation is still hovering around its highest levels in over 40 years.
The Biden regime claims that the American economy is improving, but economic figures indicate that the regime’s policies are increasing inflation.
In the present, Americans are having tons of trouble buying basic needs such as food and gas.
Per certain reports, over half of Americans are going through financial hardship while almost 60% are living paycheck to paycheck.
Financial pundits also argue that inflation is disproportionately hurting the middle class. As economists such as Ludwig von Mises have noted, inflation is the product of public policy. Namely, easy money.
Combine that with a massive regulatory state, and you have the recipe for economic malaise. DC is addicted to easy money, big spending, and heavy regulation. That’s been the way politics have moved since the creation of the Federal Reserve and the income tax in the 1910s. A new political class — one informed by limited government, sound money, and subsidiarity — is needed to replace the decadent ruling class that currently resides in the DC Swamp.
For America to survive as a polity, it needs an America First political faction in charge.