As inflation continues to skyrocket with no apparent end in sight, harrowing news broke this week as economic reports start to come in from the month of December. Under the first year of the Biden regime, inflation hit a 40 year high. From the first month of the Biden administration in January until December, the inflation rate also multiplied fivefold. CNBC Reports–
“Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday.
The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%.
Economists surveyed by Dow Jones had been expecting the measure to increase 7% on an annual basis and 0.4% from November.
The annual move was the fastest increase since June 1982.”
Biden’s approval ratings, like much the economy under his administration have been in free fall. In a poll released in late December, he was ranked 9th out of 11 of the country’s leaders. President Joe Biden’s job approval rating was lower than that of several of his top deputies including Vice President Kamala Harris and Chief Medical Adviser Dr. Anthony Fauci, according to a dire new poll for the 79-year-old commander-in-chief.
He’s ranked toward the bottom of a list of federal officials that also includes GOP Congressional leaders like House Minority Leader Kevin McCarthy.
As Biden’s approval ratings, particularly on the economy continue to crater, his administration was caught begging major media outlets for more favorable economic coverage last month.