The consumer price index rose more than 5% in September.
If you’ve been, well, anywhere lately you’ve probably noticed everything is more expensive. Back in July, President Biden told Americans this wasn’t happening, saying, “nobody [is] suggesting there’s unchecked inflation on the way — no serious economist.”
It’s no longer a suggestion – it’s here.
“Consumer prices continue to rise, particularly as demand driven by people returning to post-vaccination life outstrips supply that is increasingly constrained by logistics and labor shortages,” said Brian Crosby, managing partner at Traub Capital Partners.
“Energy prices climbed 1.3% in September and are now up 24.8% over the past year,” Fox News reports. “Food prices, meanwhile, jumped 0.9% last month and are now up 4.6% annually. Meats, poultry, fish, and eggs, have climbed 10.5% this year while beef prices are up 17.6%.”
Even the New York Times can’t deny it.
“Inflation has surged in 2021, with various official measurements of consumer prices rising faster than they have in years,” says columnist Neil Irwin. “But in a crucial respect, the data may be understating things.”
To make matters worse, supply chains are breaking down all over the country and Secretary of Transportation Pete Buttigieg doesn’t have the experience to take action. Buttigieg cites the supply chain breakdown as a reason to pass Biden’s Build Back Better agenda, but what if that doesn’t pass in time to help Americans who are struggling?
“But let’s say the Biden infrastructure plan – which contains a majority of items that the administration calls ‘human infrastructure,’ to the tune of trillions of dollars of additional spending while core inflation is already at a 30-year high – doesn’t pass. What is Buttigieg doing *right now* to address the crisis?” the Hill asks, calling Buttigieg’s performance “amatuer hour.”