BARELY THERE BIDEN: Joe Says Surging Inflation Shows ‘We Are Making Progress!’

America continued to tackle the ongoing inflation crisis towards the end of 2021, with new data showing the consumer price index rising at least 7% in December -the highest rate in 40 years.

“Today’s report – which shows a meaningful reduction in headline inflation over last month, with gas prices and food prices falling – demonstrates that we are making progress in slowing the rate of price increases,” Biden said in a statement. “At the same time, this report underscores that we still have more work to do, with price increases still too high and squeezing family budgets.”

He added: “Inflation is a global challenge, appearing in virtually every developed nation as it emerges from the pandemic economic slump. America is fortunate that we have one of the fastest growing economies – thanks in part to the American Rescue Plan – which enables us to address price increases and maintain strong, sustainable economic growth.”

“The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released Wednesday, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.5% in the one-month period from November,” reports Fox News.

“Price increases were widespread: Although energy prices fell 1.1% in December from the previous month, they’re still up 29.3% from last year. Gasoline, on average, costs 49.6% than it did last year. Food prices have also climbed 6.3% higher over the year, while used car and truck prices – a major component of the inflation increase – are up 37.3%. Shelter costs, which make up nearly one-third of the total increase, jumped 0.4% for the month and 4.1% year-over-year, the fastest pace since February 2007,” adds Fox.