Bidenomics

#Bidenomics just gave us the biggest monthly inflation increase of 2023. That means higher costs at the store and gas pump and less money in your bank account.

KEY POINTS

• The consumer price index rose 0.6% in August, its biggest monthly gain of 2023. The inflation gauge rose 3.7% from a year ago.

• The core CPI increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%. Fed officials focus more on core as it provides a better indication of where inflation is heading over the long term.

• Energy prices fed much of gain, rising 5.6% on the month, an increase that included a 10.6% surge in gasoline.

• The jump in headline inflation hit worker paychecks. Real average hourly earnings declined 0.5% for the month.

https://www.cnbc.com/2023/09/13/cpi-inflation-report-august-2023-.html