Official US government data set for release on Tuesday, April 12, is expected to show inflation becoming an even bigger problem.
, Labor Department data has been showing year-over-year price hikes not seen in the US since the presidential administration of Ronald Reagan. March’s reading is what’s coming tomorrow, while February’s look at the benchmark consumer inflation index? It was already up 7.9 percent in the prior 12 months, the biggest jump since January 1982.Inflation is “the rate of increase in prices over a given period of time.
Prices increases, basic groceries costing more, the price of gas soaring — these, however, are the very specific things that people do talk about. And worry about. And, if things get bad enough and prices get too out of whack, it does lead over and over again to politicians getting punished at the ballot box.
Along those lines: Notwithstanding takes from Democratic apologists who try and convince you that inflation ain’t all bad? The picture for the midterm elections this fall is looking worrisome for Democrats. President Biden delivers the State of the Union address to a joint session of Congress at the US Capitol in Washington, DC, on March 1, 2022. Image source: Saul Loeb – Pool via CNP/MEGAshows that a typical family would need to budget an extra $433 a month to absorb all of the prices that have increased because of this inflation wave.
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