The Democrats inflation machine looks unstoppable
Larry Kudlow:
The highest inflation in 40 years is deeply embedded in the economy and spreading
Larry Kudlow reacts to the CPI inflation report
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Overall, the topline CPI came in at 8.3% for the year — food up 11.4%, even energy is still up 24%. Electricity is up 16%; natural gas 33%; new cars 10%. Even with the recent drop, gasoline is still 26% above a year ago. Rent is up 6.5%. Overall, services are up nearly 7%. Core goods prices are up 7%. Used cars are up nearly 8%. The so-called core inflation rate, omitting food and energy, has risen 6.5% annually over just the past three months.
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Food and energy are not items that people can do without. They are killers for people on a fixed income.
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