New data from the federal government was released Thursday indicating the Consumer Price Index reached 8.2% for the 12-month period ending in September.In September, the price of goods increased .4% despite energy prices falling 2.1%. The cost of food went up .8%, while the price of shelter went up .7%.
The rising cost of food and housing disproportionately impacts lower wage earners, who can't cut back on food or housing costs the same way they can scale back their gasoline use. Although Americans have seen wage hikes in the past year, they have failed to keep up with inflation. The Bureau of Labor Statistics reports a 3% decline in real income in the last year.
Is this calculated under some new math... All I know is I am paying nearly 60-80% more for gas. Groceries are up as much as 25%. Do some actual journalism and do your own research instead of regurgitating your parent network or the Washington reporters who shill for the govt.
Corporate greed never abates.
LGB
Corporate greed remains high