Hide your kids, hide your wife, and also hide your wallet because we’ve had another “unexpected” inflation report drop. September’s inflation rate clocked in at 8.2 percent. To make matters worse, month-over-month inflation, a metric the White House was touting back in August, actually rose by 0.4 percent as core CPI surged to 6.6 percent.
Predictably, the stock market is now staring at another crash after already falling around 20-25 percent over the last several months.
JUST IN – US inflation hits 8.2% in September — hotter than expected. Core CPI surges to 6.6%, the highest since 1982.
US futures drop after inflation data. pic.twitter.com/HOgNkaUmHt
— Disclose.tv (@disclosetv) October 13, 2022
Inflation WORSE than expected.
Overall CPI: +8.2% y/y
Core CPI: +6.6%
Fuel Oil: +58.1%
Meat, Poultry, & Fish: +7.7%
Baby Food: +11.8%
Airline Fares: +42.9%
Real Average Hourly Earnings: -3%
— Jacki Kotkiewicz (@jackikotkiewicz) October 13, 2022
Thankfully, Democrats passed the Inflation Reduction Act, right?
What this means for Americans in real dollars, after compounding everything, is that they are paying about 15 percent more for things today than they were before Biden took office. Think about that. In less than two years, you have lost 15 percent of your paycheck, and depending on your spending priorities, that number could be far higher.
That is insanely unsustainable, but unfortunately, there is nothing in this report that suggests things are going to cool off any time soon. Core CPI is still rising and month-over-month inflation has accelerated over the last two months. Things are bad, and the job losses are going to start in short order as the economy continues to collapse.
Moving past the absolute pain we are all suffering due to Democrat governance, this report also sets the stage for the coming mid-terms. There will not be another inflation report dropped before election day. This is it, and it means sky-high inflation is now imprinted in the minds of voters. There is nothing Democrats can do to change that. They made their bed and now they will lay in it.
And to those voters, I’m begging you to please vote accordingly in November. This is ridiculous, and people can’t survive another year of Democrat big spending leading to more and more inflation. There need to be consequences for bad governance, otherwise, all you will get is more bad governance.