By Casey Harper (The Center Square)
Prices continued to rise in the month of July, newly released federal inflation data shows.
The U.S Bureau of Labor Statistics on Thursday released its Consumer Price Index, a key marker of inflation, which showed the all items index rose 0.2% in July.
The same index has risen 3.2% over the last 12 months, “slightly more than the 3.0-percent increase for the 12 months ending in June.”
“The index for shelter was by far the largest contributor to the monthly all items increase, accounting for over 90 percent of the increase, with the index for motor vehicle insurance also contributing,” BLS said. “The food index increased 0.2 percent in July after increasing 0.1 percent the previous month.
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“The index for food at home increased 0.3 percent over the month while the index for food away from home rose 0.2 percent in July. The energy index rose 0.1 percent in July as the major energy component indexes were mixed.”
The 0.2% increase in July is the same increase as the month before.
“Indexes which increased in June include shelter, motor vehicle insurance, education, and recreation,” BLS said. “The indexes for airline fares, used cars and trucks, medical care, and communication were among those that decreased over the month.”
Syndicated with permission from The Center Square.
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Democrats are bad for the economy. Always. Their economic solutions are never to curb government spending, stop government waste, take a pay cut, or build up our nation’s self-sufficiency.
Instead, they raise taxes, seize the wealth built up and earned by the citizens, print more money, raise minimum wage, increase dependency on foreign powers, and increase government spending.
The only conclusion that can be reached by this is either A) Not one democrat got a passing grade in high school economics, or B) They are purposely trying to cripple this nation, subjugate its citizens, and become a permanent ruling class.
Gee, I wonder which it is.