From the WSJ: “U.S. consumer prices rose 5.4% in June from a year ago, keeping inflation at the highest annual rate in 13 years as the economic recovery gained steam”:

This is the “sharpest 12-month inflation spike since June 2008”:

But real earning actually dropped in June by 1.7%:

“Biden inflation is here,” tweeted the official account for Senate Republicans:

Time to spin inflation as good news, right?

The bad news, however, is that it’s not going away:

Here’s the breakdown from the Washington Post’s Heather Long:

And inflation is “not transitory if you need to buy stuff *today*,” like say a used car or a washing machine: