It’s difficult to assert that there is any positive news about inflation. However, it is just getting worse, with middle-class families witnessing the totality of the previous few years’ wage increase vanish in a matter of months. Producer cost inflation increased by 7.8 percent year over a year today, with no sign of a slight reduction. However, this surpasses the previous record set in June.
Producer cost inflation is generated from the producer price index, which measures product selling costs to retailers (wholesale costs) from year to year. In other words, they are costs that are directly passed on to the end-user. Because things are out of control, the PCI jumped by 1% between June and July. It is a figure that falls just shy of what it would typically take Americans a year to reach under normal conditions. The following is a rundown of some of the most notable recent climbs.
The following is a rundown of some of the more notable recent increases. How did Vice President Joe Biden respond to this? As a result, he went on television to boast that his rebuilt better projects were lowering rather than raising prices. It’s like he lives on some other planet.
Did anybody receive a tax break? Because the citizens don’t recall receiving a tax break. Maybe Joe Biden means to reestablish the SALT tax deduction, but that’s a handout to the wealthy in blue states with high-income taxes. Regardless, he isn’t helping to save expenditures. Instead, Americans are witnessing the inverse.
Moreover, the savings of people are fading away without spending a little of it now. And what exactly is Biden doing? He’s just having his ice cream for cameras and lying to people and eating chocolate. The optics and the reality of it all are both insanely surreal to witness.
Democrats are powerless to respond because their spending policies are to blame, and they are too entrenched in their current path to alter course. Rather than that, Americans observe absurd qualifiers as well as an increase in transitional claims. Meanwhile, Republican senators approved a $1.2 trillion infrastructure plan, handing Democrats a significant win that would only increase inflation. To compound problems, Joe Biden is a senile older man who reads 40-font phrases written up by his far-left henchmen. Is he even aware of how ridiculous it sounds to claim cost savings as inflation continues to rise? Americans have their doubts.
Paying people not to work. Printing more money. Out of control inflation.
The agenda has been a disaster. https://t.co/B4MF9ffm2A
— The Political Badger (@Badger_Politics) August 12, 2021