CNBC’s Rick Santelli broke down the numbers today to give Americans the bad news on inflation.
According to economists surveyed by Dow Jones, the Consumer Price Index was expected to increase 3.6% from a year ago, but the number reported is 4.2%. This is faster than expected.
Biden’s economic “plan” is devastating America at a record rate and the DOW is responding by dropping about 500 points.
Anyone with a clue about Biden’s economic plan knows this would happen eventually. It’s just happening quicker than many expected. The so-called experts say they are “surprised” by the jump in CPI:
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Reports say that inflation in April accelerated to 4.2%, its fastest pace in more than 12 years, and the monthly gain in core inflation was the largest since 1981.
Overall, energy prices jumped 25% from a year earlier, including a 49.6% increase for gasoline and 37.3% for fuel oil.
We agree with Larry Kudlow who told Biden to “stop meddling” with the economy after the jobs report came out:
The Biden administration owns this horrible report!