If you didn’t notice, everything at grocery stores, department stores, and elsewhere is still outrageously expensive. The numbers don’t lie, even though the Biden administration dodges and spins the constant cycle of poor inflation-related financial news. It’s going to be a bumpy ride.
Fox Business reports that wholesale inflation (also known as the Producer Price Index, or PPI) rose faster than anticipated in November. This marker measures inflation at the point at which it really counts before products hit the shelves.
President Joe Biden was busy buying one of the most dangerous terrorist weapons dealers in modern history to trade for a woke former WNBA star because she’s black, gay, and should be released before an ex-Marine. The PPI was moving in the opposite direction. Again.
Fox Business:
Friday’s Labor Department report showed that the producer price index, which measures inflation at wholesale before it reaches consumers and is used to measure inflation, increased by 0.3% from November. Prices rose 7.4% annually. This is a decrease of 8% in October and the lowest level since May 2021.
These figures still exceeded the headline 7.2% figure and 0.2% monthly gains forecasted by Refinitiv economists. This is a worrying sign for the Federal Reserve, which seeks to reduce price increases and restrain consumer demand through its most aggressive interest rate rise campaign since the 1980s.
Biden stated, embarrassingly on December 1, that “we are seeing initial signs of progress in tackling inflation as we make the transition to more stable, steady economic growth.” This is good news for Americans and further proof that my economic plan works.
Whoops. Another lie.
Mike Loewengart from Morgan Stanley Global Investment Office is the head of model portfolio construction. He explained that the country is moving in the right direction relative to last year, but that inflation is still “sticky” and that it will “take time for it to normalize.”
Loewengart is a mystery to me, but I still don’t feel “directed in the right direction” at the grocery shop. I can’t help but gasp at the receipt. It was half the price under the previous administration for the same goods.
As Democrats double down on spending MORE MONEY, today’s #PPI report showed wholesale inflation rose higher than expected.
It’s up 7.4% over last year, which was up 9.9% over the year before. Americans can’t afford MORE #Bidenflation.
— Rick Scott (@SenRickScott) December 9, 2022
The PPI, which is the precursor to the Consumer Price Index (CPI), will be released next Tuesday. Experts believe it will be a huge success.
Fox Business reported, “Economists polled by Refinitiv expect that inflation rose 7.8% to November, slightly higher than the 7.7% in October.”
This means that inflation is here to stay, for the moment at least. And it certainly isn’t “moderating” as the Biden administration would have you believe.
And forget about those wonderful Christmases with your family that you shared in the past. This clown presidency and administration won’t allow them to happen.
Fox News reported that Americans will have to use Christmas funds this year under Biden to offset record-high energy prices. This is especially true in the Northeast where millions of hardworking Americans are suffering from home heating oil shortages and rationing.
Fox News said:
The non-partisan National Retail Federation survey found that the average consumer will spend $832 on “core holiday items” by 2022. This includes gifts, decorations, and holiday meals. This is a decrease of over 5% from the $879 spent in 2021.
The anticipated drop in spending can be attributed to higher prices for basic household items like electricity and food.
Silver lining? Perhaps there is a silver lining to this story. We can’t afford beef tenderloin and presents this Christmas thanks to Biden and other Democrats breaking the economy. Maybe we can return to the true meaning. Enjoy the true meaning of Christmas with your loved ones and friends.
We can look forward to returning to the joyous, abundant Christmas season we used to enjoy, instead of waiting in line at the food pantry to see if it runs out before our number is called.
