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Consumer Prices Have Risen Every Month Since ‘Bidenomics’ Began, Up 19.5% To Record High

Consumer Prices Have Risen Every Month Since ‘Bidenomics’ Began, Up 19.5% To Record High

After a fourth straight month of hotter than expected PPI, analysts’ expectations for CPI were tightly ranged around 0.3-0.4% MoM and printed +0.3% MoM (slightly below the 0.4% expected). The YoY headline CPI fell to +3.4% as expected from +3.5% prior

Source: Bloomberg

Under the hood, Services slowed modestly MoM…

Core CPI rose 0.3% MoM (as expected) with YoY slowing to +3.6%, also as expected…

Source: Bloomberg

Finally, we note that consumer prices have not fallen in a single month since President Biden’s term began (July 2022 was the closest with ‘unchanged’), which leaves overall prices up over 19.5% since Bidenomics was unleashed (compares with +8% during Trump’s term). And prices have never been more expensive…

Source: Bloomberg

That is an average of 5.5% per annum (more than triple the 1.9% average per annum rise in price during President Trump’s term).

Developing…


Wed, 05/15/2024 – 08:41

Source: ZeroHedge


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