The news of rising inflation, food, and energy prices has been met with concern from the American public. Despite President Biden’s assurance that inflation was decreasing, the data indicates that it is in fact increasing. The US Labor Department reported that inflation rose 0.5% in January 2023, driven by increasing prices of shelter, gas, and fuel. This has caused a decrease in real take-home pay, and investors have become concerned as the Dow Jones Industrial Average dropped.
“Wow:” CNN reports on the sky-high costs of groceries, rent, and energy.
"You are feeling inflation everyday." pic.twitter.com/BstV0JVet6
— RNC Research (@RNCResearch) February 14, 2023
The Federal Reserve has attempted to address the issue of inflation, but it still remains a major concern for the US economy, which is at risk of a recession in 2023. During a CNN segment, the show’s hosts pointed out the current the rising costs, saying “you are feeling inflation everyday.” The segment showed that gas prices are up 1.5 percent, food is up 10.1 percent, and shelter is up 7.9 percent from 2022.
The news of rising inflation, food, and energy prices has been met with worry from the American people. The cost of living is on the rise, and it is becoming increasingly difficult to make ends meet. This is especially concerning for those who are already struggling financially due to the pandemic.
The Federal Reserve has taken steps to address the issue of inflation, but it is still a major concern for the US economy. The data indicates that inflation is continuing to rise, and this could lead to a recession in 2023 if it is not addressed. It is clear that more needs to be done to address the issue of rising prices and ensure that the American people can afford the basic necessities of life.
The preceding article is a summary of an article that originally appeared on Trending Politics