Bidenflation accelerated in November, rising 2.7% for the year

JGalt

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Mar 9, 2011
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While Joe Biden is sitting in the White House bragging about his "great economy", Bidenflation continues to wreak havoc on American consumers who see and feel the effects of it for themselves in their everyday lives.


Inflation Accelerated in November, Rising 2.7% For the Year

"Prices rose at the fastest pace in four months in November, the second consecutive month of accelerating inflation.

The consumer price index rose 2.7 percent from a year earlier, the Department of Labor said Wednesday. Core inflation, a metric that excludes volatile food and energy prices, climbed 3.3 percent over the previous 12 months.

The results matched the forecasts of economists surveyed by Econoday.

Compared with a month ago, the broad index of consumer prices rose 0.3 percent, the fastest pace of inflation since March. If that pace of inflation were to continue for a year, prices would rise 3.8 percent. Core prices also rose 0.3 percent for the month—which was also the fastest pace since March.

Consumer optimism has risen after the U.S. presidential election, as indicated by data from the University of Michigan and the Conference Board. Small business optimism is at the best level in years, with the outlook metric of the National Federation of Independent Business’s measure of business confidence jumping in November for the biggest monthly gain ever recorded."

Inflation Accelerated in November, Rising 2.7% For the Year
 
2.7 percent is not very high

That is now Trumps benchmark
Let’s see if he can beat it
~~~~~~

Prices Jump 2.7% In November as Country Enjoys Fourth Straight Year of Transitory Inflation​

Best economy in history, Jack.
The Consumer Price Index, which measures the change in prices of a typical basket of goods and services, increased 0.3% from October to November, marking the second consecutive month of year-over-year growth in inflation.​
Housing costs, including rent and mortgages, were a major driver of last month's CPI increase, contributing 40% of the overall rise, while food prices saw monthly increases, including an 8% jump in egg prices.​
Economists anticipate another Federal Reserve interest rate cut at its December 18th meeting, though persistent inflation may complicate future decisions on rate reductions. Inflation remained a challenge for consumers in November, with the Consumer Price Index (CPI) rising 2.7% compared to the same month last year. Although inflation has slowed from its 2022 peak of 9.1%, prices for necessities like housing and food continue to climb, leaving families grappling with higher costs.​
Housing costs, which accounted for nearly 40% of the CPI increase, remain a significant burden. The Bureau of Labor Statistics highlighted that shelter prices, including rent and mortgage rates, have remained elevated since the pandemic, contributing to persistently high costs. Food prices also rose in November, with grocery costs increasing by 0.5% on a monthly basis. Eggs, a key indicator in the food category, surged by 8% during the same period.​
Economist Robert Frick of Navy Federal Credit Union noted that while the pace of inflation has eased, the ongoing rise in prices is difficult for many. "Shelter costs continue to be the number one source for higher prices, and that the rate of increase has slowed is no comfort," he told CBS News. "Many food prices rose... adding to the harsh burden of high costs."​

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Commentary:​
Of course throughout this ordeal created by Joey B and his Neo-Marxist Democrat travelers, retirees receiving Social Security were awarded less that an 8% increase in year 2024 and can expect much less this coming year while Medicare costs increase.​
 
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While Joe Biden is sitting in the White House bragging about his "great economy", Bidenflation continues to wreak havoc on American consumers who see and feel the effects of it for themselves in their everyday lives.


Inflation Accelerated in November, Rising 2.7% For the Year

"Prices rose at the fastest pace in four months in November, the second consecutive month of accelerating inflation.

The consumer price index rose 2.7 percent from a year earlier, the Department of Labor said Wednesday. Core inflation, a metric that excludes volatile food and energy prices, climbed 3.3 percent over the previous 12 months.

The results matched the forecasts of economists surveyed by Econoday.

Compared with a month ago, the broad index of consumer prices rose 0.3 percent, the fastest pace of inflation since March. If that pace of inflation were to continue for a year, prices would rise 3.8 percent. Core prices also rose 0.3 percent for the month—which was also the fastest pace since March.

Consumer optimism has risen after the U.S. presidential election, as indicated by data from the University of Michigan and the Conference Board. Small business optimism is at the best level in years, with the outlook metric of the National Federation of Independent Business’s measure of business confidence jumping in November for the biggest monthly gain ever recorded."

Inflation Accelerated in November, Rising 2.7% For the Year

An outstanding % and perfectly acceptable.
 

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