Inflation Worse Than Expectations in April
After the Bureau of Labor Statistics released its April Consumer Price Index reporting consumer prices increased 8.3 percent from a year ago, I issued the following statement:
This is more bad news for workers and local businesses. April was another month of raging Bidenflation – punishing price hikes, core inflation worsening and paychecks shrinking. If the President claims inflation has peaked, someone ought to remind him that’s what he claimed last year and was horribly wrong.
- Real wages have decreased by over 3 percent since the Biden Administration started.
- Both core inflation (omitting food and energy prices), and month-over-month inflation gains were higher than expectations.