New economic numbers released Thursday show U.S. core inflation is rising at a rate not seen since 1992. Consumer prices in May 2021 were up 5 percent over May 2020.
US core inflation in May was 3.8% (vs expectations of 3.4%) - highest since 1992... pic.twitter.com/M9QzdvM8qc— Ben Chu (@BenChu_) June 10, 2021
BREAKING: Inflation rose 0.6% May -- more than expected and following a 0.8% rise in April and 0.6% in March— Heather Long (@byHeatherLong) June 10, 2021
Prices are up 5% in the past year -- the largest increase since 2008.
It's not just food and energy costs going up. CPI ex food&energy is +3.8% -- highest since 1992
Meanwhile, Democrats continue their push for more spending.
Inflation is up 5%—and Biden wants to spend $6 trillion more to see how high it will go.— Tom Cotton (@TomCottonAR) June 10, 2021
So you're saying that if you inject trillions of dollars into a system while encouraging people not to work, there will be more dollars chasing less product? And we call this phenomenon INFLATION?! WHAT?! https://t.co/Bzl8jBt777— Ben Shapiro (@benshapiro) June 10, 2021
The worst Inflation number since August of 2008, just before the economy sank into the deepest recession since the Great Depression.— Steve Cortes (@CortesSteve) June 10, 2021
Prices leap 5% here, as the #BidenInflationSpike punishes working class America. pic.twitter.com/x1jRo0ideU