Wall Street Journal: Is inflation still “transitory,” as the Federal Reserve and White House like to say? Not if you’ve been visiting the grocery store, gas pump, online retailer, or anywhere else across the U.S. economy. The Labor Department said the consumer price index rose 0.4% in September, up from 0.3% in August. This means the price level has increased 5.4% in the last 12 months and 6.5% on an annual basis so far in 2021. This is the largest year-over-year increase since 2008, and the details in the report add to the evidence that inflation is likely to be persistent (WSJ).
Heather Long w/Townhall: “Prices are rising, real wages are down, and Americans are struggling to get back to work—all hallmarks of Joe Biden’s Build Back Broke agenda. With consumer prices rising higher than expected and families facing the highest inflation rate in over 13 years, there could not be a worse possible time for Biden and Democrats’ trillions in reckless tax hikes and spending,” Republican National Committee Chairwoman Ronna McDaniel released in a statement Wednesday morning (Townhall).
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