The media and Democrats are trying to claim Bidenomics is working, it isn’t.
The inflation rate rose in January.
Experts expected a 3.0% increase year-over-year, it rose 3.1%. Overall, it rose 3.4% over the last 12 months.
Inflation unexpectedly accelerated in January, with the prices rising faster than expected as the new year began.
The consumer-price index, the Labor Department’s broad measurement of what consumers pay for goods and services, rose 3.1 percent from a year earlier.
Economists were expecting a year-0ver-year increase of 3.0 percent. The 12-month price rise was 3.4 percent in December.
Compared with the prior month, the CPI was up 0.3 percent. Economists had forecast inflation to climb 0.2 percent, the same rate of inflation reported for December.
This puts the fed cutting rates in doubt.
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