Producer prices rose 8.6 percent in October compared to a year earlier despite the Biden administration’s repeated claims that skyrocketing prices among goods and services in the United States is temporary and its denial that inflation is affecting American consumers.
According to the producer price index report released by the Department of Labor on Tuesday, October’s inflation not only rose 0.6 percent to match the record highs set in September of this year but was up 0.4 percent from the wholesale level measured the month before.
“For the 12 months ended in October, the index for final demand less foods, energy, and trade services rose 6.2 percent,” the report states.
A majority of this increase from September to October, 60 percent, is attributed to an alarming rise in prices among “wholesale goods,” which is evidenced by the rising number of Americans vocalizing their concerns about climbing gas and grocery prices.
Even when people share their worries about rising prices, the administration, corporate media, and other elites shut them down and brush off their concerns.
President Joe Biden and his team have frequently trivialized the struggles facing American families with tone-deaf tweets. In October, the president used the rising cost of a cup of coffee (which is actually close to $3.77 a cup on average) in a tweet as a way to re-up his agenda for “taxing the rich.”
“Here’s the deal: If you spent $3 on your coffee this morning, that’s more than what 55 major corporations paid in taxes in recent years,” Biden wrote. “It’s wrong — and it’s got to change.”
Here’s the deal: If you spent $3 on your coffee this morning, that’s more than what 55 major corporations paid in taxes in recent years.
It’s wrong — and it’s got to change.
— President Biden (@POTUS) October 20, 2021
Blue-check elites also took to Twitter this week to complain about one Texas family’s milk consumption and essentially blamed the family’s skyrocketing grocery bill on drinking too much dairy instead of on the Democrat administration.
These rising prices also come as Americans grapple with a supply-chain crisis that is delaying and preventing key goods from getting to their inland U.S. destinations while the White House looks on. White House Press Secretary Jen Psaki recently joked that the supply-chain issues facing a majority of American families are simply “the tragedy of the treadmill that’s delayed,” and White House Chief of Staff Ron Klain also downplayed the crisis in a retweet mischaracterizing the historic inflation and backup of goods as “high class problems.”
The Atlantic, Vox, and other outlets joined in the mocking by publishing articles last month that demanded Americans stop shopping in an effort to absolve Biden and his administration of blame for the supply-chain crisis plaguing the country.
Source: The Federalist
