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Biden is thoroughly wrecking our economy as inflation surges 8.5 percent in March, hitting a 40-year high and growing at the fastest rate in decades.

According to the Labor Department, the consumer price index rose at the fastest pace since 1981.

Per Fox News:

The Labor Department said Tuesday that the consumer price index – which measures a bevy of goods including gasoline, health care, groceries and rents – rose 8.5% in March from a year ago, the fastest pace since December 1981, when inflation hit 8.9%. Prices jumped 1.2% in the one-month period from February, the largest month-to-month jump since 2005.

Economists expected the index to show that prices surged 8.4% in March from the previous year and 1.2% on a monthly basis.

So-called core prices, which exclude more volatile measurements of food and energy, climbed 6.5% in March from the previous year – up from the 6.4% increase recorded in February. It was the steepest 12-month increase since August 1982.

Price increases were widespread: Energy prices rose a stunning 11% in March from the previous month, and are up 32% from last year. Gasoline, on average, costs 48% more than it did last year after rising 18.3% in March on a monthly basis as the Russian war in Ukraine fueled a rapid increase in oil prices

Some of the price hikes are extreme:

  • Bread up 7%
  • Electricity up 11%
  • Coffee up 11.2%
  • Eggs up 11.3%
  • Milk up 13.3%
  • Meat, poultry, fish up 13.8%
  • Car rentals up 23.4%
  • Airfare up 23.6%
  • Used cars, up 35.3%
  • Gas is up 48%

Biden has essentially leveled a tax on the most vulnerable Americans. We went form the best economy in decades ti a new president who destroyed it all in less than a year.

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Warner Todd Huston

Warner Todd Huston has been writing editorials and news since 2001 but started his writing career penning articles about U.S. history back in the early 1990s. Huston has appeared on Fox News, Fox Business Network, CNN, and several local Chicago News programs to discuss the issues of the day. Additionally, he is a regular guest on radio programs from coast to coast. Huston has also been a Breitbart News contributor since 2009. Warner works out of the Chicago area, a place he calls a "target rich environment" for political news.

 

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