Inflation rose 7% in 2021 the highest level in 39 years since 1982 when it was 7.1%.
Inflation was up 5.5% excluding food and energy.
This is a disaster.
Advertisement - story continues below
🚨 BREAKING 🚨 Inflation just hit 7%—the highest rate since 1982.
This trend isn’t “transitory,” and it’s all happening under Democrats’ one-party control. pic.twitter.com/GfEhPQ67xy
— Kevin McCarthy (@GOPLeader) January 12, 2022
TRENDING: WATCH LIVE NOW: Service Member Karolina Stancik Speaks Out About Her Vaccine Injury
Goods inflation of 10.7%. Every single sub measure was above expectation. pic.twitter.com/7yNA2lZT4C
— Henry Lowell (@HenryLowell5) January 12, 2022
Advertisement - story continues below
CNBC reported:
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.
Advertisement - story continues below
The annual move was the fastest increase since June 1982.
The last time inflation was 7%, the fed funds rate was 11.50%. pic.twitter.com/Vgn33mmDcW
— zerohedge (@zerohedge) January 12, 2022
The Gateway Pundit is moving back to Disqus! All of your account information and comment history has been saved and will be uploaded as quickly as possible to Disqus. If you do not already have a Disqus account, you will need to create one. Please use the same email address that you used for Insticator for your comment history to be carried over. We greatly appreciate your patience and continued support!