/Americans Get Bad News With Updated Inflation Numbers

Americans Get Bad News With Updated Inflation Numbers

The U.S. Bureau of Economic Analysis (BEA) released key data from June on Friday, and the news isn’t good. The Federal Reserve’s preferred inflation gauge showed the personal consumption expenditures (PCE) price index “increased 4.0 percent from one year ago, reflecting increases in both goods and services” as “energy prices increased 24.2 percent while food prices increased 0.9 percent.”

When calculated without food and energy, “the PCE price index for June increased 3.5 percent from one year ago” according to the BEA, and that jump is raising eyebrows as the index’s biggest move since 1991.

 

The PCE price index’s now second-highest jump was in May of this year when it rose 3.4 percent, suggesting that despite the Biden administration’s claims that inflation is a temporary problem, inflation is still getting worse month by month.

Keep reading at Townhall for more.

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