US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already 'Out-of-Date' – Economics Bitcoin News
— Inflation, Data, Outofdate, Numbers, Scorching, Report, Redman, White, Jumping, Economics — 1 min read
US inflation continues to rise at the fastest yearly rate since 1981. June's CPI data reflected a 9.1% year-over-year increase, even though a number of bureaucrats and economists thought May's data would be the record peak. The White House says the data is already out-of-date and the CPI report does not reflect “the full impact of nearly 30 days of decreases in gas prices” Inflation adjusted earnings have been negative during 88% of Biden’s presidency. After the real CPI numbers were released, the stock market saw significant losses as the Dow Jones Industrial Average shed 400 points. The price of bitcoin (BTC) slipped from the $19,900 region to a $18,906 per unit. Source