[ April 30, 2026 ]
The beleaguered, voiceless American under the Biden boot. While the Democrat media chorus sings it praises.
Inflation Surges Above Expectations Despite Fed’s Rate Hikes
Inflation rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.
ADVERTISEMENTBy: Daily Caller, Setpember 13, 2023:
The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.7% on an annual basis in August, compared to 3.2% in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to 4.7% in July.
“This will be the second acceleration in a row, showing that inflation is anything but dead,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Although we’ve been told that inflation has been trending back towards 2%, that’s false. If anything, the annualized monthly data show it was trending towards 3% and is now climbing again.”
The rise in inflation was partly driven by an increase in the price of gasoline, accounting for half of the total gain, with the energy index rising 5.6% for the month. The second largest contributor to the increase was the price of shelter, which has risen for the past 40 months in a row.
The Federal Reserve, in an attempt to lower inflation, has raised its federal funds rate to the highest point since 2001 after a series of 11 rate hikes, bringing the current rate to a range of 5.25% and 5.50%. The Fed will announce on Sept. 20 whether it will raise rates again at the conclusion of its Federal Open Market Committee meeting.
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