Another inflation measurement has reached its highest level in decades, since the early 1980’s. However, not to worry, the Biden gang claims food prices have not gone up.
FOX News reports that inflation is sky high under Biden as another measurement shows.
A key inflation gauge reached its highest level since 1983, the Commerce Department reported Friday.
The core Personal Consumption Expenditures (PCE) price index, which excludes food and energy prices, grew 4.9% on a year-over-year basis as of December 2021, slightly ahead of the 4.8% Dow Jones estimate and ahead of the 4.7% figure in November, the Commerce Department reported.
Personal income grew 0.3% in December 2021, slightly lower than experts’ 0.4% estimate, while consumer spending dipped 0.7%, according to CNBC.
The core PCE (personal consumption expenditure), which is a measure of inflation that the Fed likes for deciding on policy, jumped to the highest level in 38 years.
Another one of those ‘you got a nice raise but are ending up with less money’ inflation chart. pic.twitter.com/vGdAIYhFXK
— Josh Jordan (@NumbersMuncher) January 28, 2022
The Conservative Treehouse reported yesterday on Biden’s claims on the cost of food.
The same people who told us to appreciate saving $0.16 on our July 4th BBQs last summer are now taking the official position there is no massive food inflation. [DATA HERE]
Those skyrocketing prices you think you see at the grocery store are not real. Those announcements of forecasted price increases by the food producers, well, those are not real either. So sayeth the United States Dept of Agriculture (USDA).
In their update to the USDA pricing forecast and analysis dated January 25, 2022, the USDA claims: “2021 retail food price inflation continued at same pace as 2020 but varied among food categories.” Oh, but it gets even more stupid:
“USDA, Economic Research Service (ERS) researchers project that prices for food-at-home, or food purchased typically from grocery stores or other food stores, will increase between 1.5 and 2.5 percent in 2022, lower than the 3.5-percent increase that occurred in both 2020 and 2021. Forecasts for all food categories for 2022 are available in ERS’s monthly Food Price Outlook data product, updated January 25, 2022.” (link)
If there was ever an argument that every single institution in the U.S. government was corrupt, manipulative and ideologically bent, this claim by the USDA would be a case study in the supportive evidence.
This is simply outrageous. Ask anyone who regularly goes out to eat about the price of a meal this year when compared to last you and they’ll all say that prices have doubled. Gas has doubled, everything has gone up.
Everything from homes to autos to food has gone way up and Biden wants us to believe that we are seeing things. This entire Biden gang is a lie.
The post BIDEN’S ECONOMY: Another Key Inflation Indicator Highest In 40 Years But Don’t Worry – Biden Says Food Prices Have Barely Gone Up appeared first on The Gateway Pundit.
