The new inflation number is out and it’s AWFUL:
WASHINGTON (AP) — US inflation hit 9.1% over the past year, highest rate in 4 decades.
— Zeke Miller (@ZekeJMiller) July 13, 2022
What an understatement:
Bad news for the White House. https://t.co/UrSnWmQnKn
— Josh Kraushaar (@JoshKraushaar) July 13, 2022
And here’s Katie Pavlich with the reminder on how the White House was spinning the economy on ~ checks notes ~ Monday:
This was Monday. New inflation numbers today raged right past 9 percent. https://t.co/aEHCC0Cgv6
— Katie Pavlich (@KatiePavlich) July 13, 2022
This translates into “a 4% pay cut to Americans’ real wages”:
Consumer inflation spiking even faster in June (1.3%) than May (1.0%) to reach a whopping 9.1% in the last year. Accounting for 5.1% annual wage growth in June’s jobs report, Biden’s economy has delivered a 4% pay cut to Americans’ real wages.
— Spencer Brown (@itsSpencerBrown) July 13, 2022
A legit “siren” moment:
Inflation continues to hit hard:
Groceries: up 12% in past year –>Biggest annual increase since 1979
Chicken: Up 19% in past year–>Biggest increase ever
Gas up 60%–>Biggest since 1981
Electricity: Up 14% –>Biggest since 2006
Rent: Up 5.8% –>Biggest since 1986
— Heather Long (@byHeatherLong) July 13, 2022
And it’s the “highest rate in nearly 41 years”:
U.S. inflation reached 9.1% in June, its highest rate in nearly 41 years https://t.co/c5D9I05a59
— The Wall Street Journal (@WSJ) July 13, 2022
The number was “well above Wall Street expectations”:
BREAKING: US inflation rate accelerated in June to 9.1%, highest since late 1981 (well above Wall Street expectations) | #OOTT
— Javier Blas (@JavierBlas) July 13, 2022
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How are they so bad at this?
9.1 percent inflation, year on year. Worse than every single one of these estimates. https://t.co/AbcLQuKqFA
— Charles C. W. Cooke (@charlescwcooke) July 13, 2022
Remember when President Biden said, “inflation was slowing”? Good times, good times:
FLASHBACK: In January, Biden claimed that inflation was "slowing" pic.twitter.com/jNsqtWxNRj
— RNC Research (@RNCResearch) July 13, 2022
Nope. NOT temporary:
🚨🚨 NEVER FORGET 🚨🚨
Joe Biden said almost a year ago that inflation was "temporary."
U.S. inflation just skyrocketed to a new 41-year high of 9.1%. https://t.co/ixCRVDnM9v
— House Republicans (@HouseGOP) July 13, 2022
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Related:
Karine Jean-Pierre channels ‘The West Wing’ and Biden’s (secret?) plan to fight inflation
Biden assigns new blame for gas prices & inflation (hey, what happened to ‘Putin’s price hikes’?)
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