Despite months of Democrat and corporate media insistence that inflation is “cooling,” prices jumped another 3.4 percent in December.
Americans not only paid more for goods at the end of 2023 than they did the year prior, the Bureau of Labor Statistics’ Consumer Price Index found, but they also saw a 0.3 percent spike in prices over the previous month. The biggest bump in expenses occurred with necessities like shelter (6.2 percent), electricity (3.3 percent), and food (2.7 percent), and far surpassed the Federal Reserve’s target inflation rate of just 2 percent in December.
The hike in prices is bound to exacerbate voters’ pessimistic views of the economy and the future of the nation. The record-high inflation Americans have experienced under President Joe Biden will likely also affect the 2024 election, since concern about the economy reigns supreme among voters’ priorities.
The White House is not blind to the money worry gripping the nation. That’s why it is scrambling to spin a third year of price spikes in its favor. Biden insisted the most recent CPI report suggests inflation is “down by nearly two-thirds from its peak” and “at its lowest level since May 2021.” Both are deceptive, wordsmithed claims that ignore just how far prices have climbed since 2020 — approximately 20 percent.
National Economic Council Director Lael Brainard repeated the “two-thirds” talking point from the White House press podium on Thursday. Shortly after she promised “encouraging news today on inflation,” Brainard told the press “prices have come
