Up and away — Biden's inflation is here to stay
Well, at least President Joe Biden (D) is consistent!
Well, OK, at least he's consistent about inflation.
He must love it! Just look at the U.S. government's Bureau of Labor Statistics report on the Consumer Price Index for December 2022, released just a few hours ago (8:30 A.M. EST).
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment. The index for gasoline was by far the largest contributor to the monthly all items decrease, more than offsetting increases in shelter indexes. The food index increased 0.3 percent over the month with the food at home index rising 0.2 percent. The energy index decreased 4.5 percent over the month as the gasoline index declined; other major energy component indexes increased over the month. The index for all items less food and energy rose 0.3 percent in December, after rising 0.2 percent in November. Indexes which increased in December include the shelter, household furnishings and operations, motor vehicle insurance, recreation, and apparel indexes. The indexes for used cars and trucks, and airline fares were among those that decreased over the month.
But...but the Biden-loving media will spout: "The BLS states prices 'declined 0.1 percent in December.'"
Yeah, yeah, but just as the media are downplaying Biden's mishandled classified documents, they will ignore the (artificial) reason for the slight decline: the temporary, pre-election decrease in gas prices as Biden drained our strategic petroleum reserves. The captive media will ignore the increase in such basic necessities as food, which rose 0.3 percent.
Several paragraphs into the report, the discerning reader will learn about another necessity:
The shelter index was the dominant factor in the monthly increase in the index for all items less food and energy, while other components were a mix of increases and declines. Among the other indexes that rose in December was the index for household furnishings and operations
Wait — if your eyes haven't glazed over, there is more.
The index for all items less food and energy rose 5.7 percent over the past 12 months. The shelter index increased 7.5 percent over the last year, accounting for more than half of the total increase in all items less food and energy. Other indexes with notable increases over the last year include household furnishings and operations (+6.7 percent), medical care (+4.0 percent), new vehicles (+5.9 percent), and recreation (+5.1 percent).
Other than that (and the deliberate secrecy regarding sensitive government documents, fears about Biden's health and that of his successor, and the U.S.'s open border, and the increase in crime, and...), all is well. Just eat less, turn your thermostat down by 20 degrees F, and you'll be just fine.
After all, whom are you going to believe — President Joe Biden (D), or your lying eyes reading a BLS report?
Image: Pixabay, Pixabay license.