Grocery Inflation Hits Highest Level in 43 Years Despite Biden’s ‘Zero’ Inflation Messaging

Thursday, August 11, 2022 | Tag Cloud Tags: , , , , ,

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(Worthy News) – While the annual pace of inflation in the eased slightly in July, a deeper dive into the numbers reveals that some of the categories that hit everyday Americans especially hard in the pocketbook have soared, with the price of groceries jumping to the highest level since 1979.

The Bureau of Labor Statistics (BLS) reported on Aug. 10 that the headline pace of inflation, as reflected in the Consumer Price Index (CPI) ticked down from a recent peak of 9.1 percent in June to 8.5 percent in July.

The month-over-month CPI inflation figure came in at 0 percent, meaning the overall pace of price growth stayed flat between June and July, prompting President Joe to take a victory lap saying that the “ had zero percent inflation in the month of July.” [ Source: NTD (Read More…) ]

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