Seen inflation lately? April consumer price inflation surged 4.2% over the last 12 months, four times higher than expected.
Core inflation, which strips out volatile prices for food and energy, posted its biggest monthly increase since 1981, for a gain of 3% over the last year and the biggest annual increase since 1996.
The Biden administration seems to be in denial over current inflation.
Amid roaring inflation, those with skills, education or advanced training were able to keep up or even boost their living standards.
At an average of just under 2% inflation, it would take nearly 37 years for prices to double.
If inflation hits 6% or higher, as some economists now forecast, prices will double in just 12 years.
Americans may have to re-learn the bitter lessons of the 1970s, particularly about inflation.
https://issuesinsights.com/2021/05/13/bidens-stale-rerun-of-that-70s-inflation-show/
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