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New Inflation Data Analysis: It Looks Pretty Bad

Photo provided by Pixabay.

In an anticipatory news release, The Bureau of Labor Statistics released the March 2022 inflation data on April 12, 2022. The Consumer Price Index (CPI) has increased by 1.2% on the month. According to The Bureau, the CPI is “a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.” Boiled down, CPI is marker for inflation, thus the March figure communicates the prices for goods across The United States have ballooned an additional 1.2% on average. Last month the CPI rose 0.8%.

The figure below displays the CPI trend.

The Bureau releases yearly inflation data in CPI reports, too. “Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.” the report says. Meaning, on a year-by-year basis The United States has experienced inflation at 8.5%. This is the highest 12-month increase since 1981. To no surprise the highest contributors to the rising CPI index were gasoline, shelter and food. Gasoline prices rose 18.3% in March alone. Food and shelter rose 1.0% and 1.5%, respectively.

Biden has blamed Vladimir Putin’s invasion for the prices hikes,Your family budget, your ability to fill up your tank, none of it should on hinge on whether a dictator declares war and commits genocide a half a world away … ” he said in an Iowa speech. But food, gasoline, and shelter prices were rising before Russian soldiers had ever stepped foot inside Ukraine. Indeed the Russian invasion contributes to a significant portion of gasoline inflation, but the blame in unable to wholly fall on Vladimir’s shoulders.

A tweet from @AdamCrigler puts it plainly:

The CPI report breaks down items into categories and reports on their changes, too. The energy index—an index that accounts for more than only gasoline prices—has rose over 30% on the year. Used cars and truck prices have risen 35.3% and new vehicles follow with a rise of 12.5%. Food at home has inflated by 10.0%.

Needless to say Americans are feeling the pressures of inflation. It turns out inflation wasn’t transitory as The White House claimed in 2021, and would only be transitory in the sense inflation would get worse, not better. According to Gallup polling, 49% of Americans report price hikes are causing financial hardship in their family. 9% say it has caused “severe” hardship. Of families that make less than $40,000 a year 20% report “severe”. Apparently, these families would have saved money on the now ballooned gas prices if they just bought an electric vehicle, according to the sitting president.

Minorities are leaving the DNC due to the misalignment of values it seems, but inflation may also underpin the dissent. Minorities are placed lower on the socioeconomic scale. Projections estimate nearly 2/10 black and Hispanic Americans are below the poverty line. Thus, the voters Democrats rely on the most are hit the hardest by the inflated metrics in the CPI data and Gallup‘s polling. The DNC panders to their minority voters yet crushes them under a liberal agenda that consists of incessant climate alarmism, unwise social spending and national debt accumulation.

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