skews13
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- Mar 18, 2017
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Core inflation rose at an annualized rate of 3.1% in July, the Bureau of Labor Statistics announced on Tuesday, as President Donald Trump's nonsensical tariffs led to rising prices for American consumers. The current topline figure is 2.7% This is .2 percentage points higher than the previous month’s figure.
That 3.1% annualized rate is the fastest rising inflation rate in five months, and higher than the 2.9% annualized rate BLS clocked in July 2024, according to The New York Times.
"For two years inflation was declining toward the [Federal Reserve Bank’s] target. That seems to be over," University of Michigan economics professor Justin Wolfers wrote in a post on X.
Economists agree.
"Trump was handed a stable economy. I expected them to screw up either the labor market, prices, or growth. I didn't expect them to fumble all three," Mike Konczal, senior director of policy and research at the Economic Security Project, wrote in a post on X.
The only reason Trump beat Harris by a measley 1 1/2 points was because of higher prices and inflation. You know, the things he said he would bring down on day one. This hurts his voters in red rural districts the most. Not only has he made life more unaffordable for them, but his big billionaire bill is closing hospitals in those districts, and they are losing health care benefits. And his tariffs are the highest tax increase on them since the McKinnley administration, only making it worse.
This is not going to go over well in the elections for Republicans. Who are just hanging themselves by making excuses for Taco Pedo at townhalls they're getting booed out of.
That 3.1% annualized rate is the fastest rising inflation rate in five months, and higher than the 2.9% annualized rate BLS clocked in July 2024, according to The New York Times.
"For two years inflation was declining toward the [Federal Reserve Bank’s] target. That seems to be over," University of Michigan economics professor Justin Wolfers wrote in a post on X.
Economists agree.
"Trump was handed a stable economy. I expected them to screw up either the labor market, prices, or growth. I didn't expect them to fumble all three," Mike Konczal, senior director of policy and research at the Economic Security Project, wrote in a post on X.
New inflation data is worse than you think
Core inflation rose at an annualized rate of 3.1% in July, the Bureau of Labor Statistics announced on Tuesday, as President Donald Trump's nonsensical tariffs led to rising prices for American ...
www.dailykos.com
The only reason Trump beat Harris by a measley 1 1/2 points was because of higher prices and inflation. You know, the things he said he would bring down on day one. This hurts his voters in red rural districts the most. Not only has he made life more unaffordable for them, but his big billionaire bill is closing hospitals in those districts, and they are losing health care benefits. And his tariffs are the highest tax increase on them since the McKinnley administration, only making it worse.
This is not going to go over well in the elections for Republicans. Who are just hanging themselves by making excuses for Taco Pedo at townhalls they're getting booed out of.