Consumer prices continued to climb at an alarmingly rapid pace last month, according to data from the Labor Department on Wednesday, as inflation woes have cast a shadow over the post-pandemic economic recovery.
The Consumer Price Index, often used as an inflation barometer as it measures the prices consumers pay for everyday goods and services, jumped by a higher-than-expected 0.9% last month. It surged 6.2% since last October, the largest 12-month increase since November 1990, the government said.
The so-called “core index,” or measure for all items except the more volatile food and energy indices, rose 4.6% over the last 12 months. This represents the largest one-year increase since August 1991, the Labor Department said.
Read more at ABC News.
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If you owned a corporation or business, would you honestly hire Joe Biden, the way he is now, to be your CEO and run your company? Be honest in your answer. I think you know where I’m heading with this.
Is the president also responsible for price hikes globally?
Why won’t you answer the simple question?