Gotta give Slow Joe credit where it is due, right? Inflation increased at the fastest rate since 1982, surpassing projections, the Labor Department announced Friday.
The consumer price index surged 0.8 percent for the month and 6.8 percent year-over-year, the fastest increase since June 1982, when inflation touched 7.1 percent. The core CPI, which excludes the more volatile food and energy costs to depict a more balanced assessment of inflation, increased 0.5 percent for the month and 4.9 percent from a year ago, alone representing the sharpest uptick since the early 1990s.
Energy prices have risen dramatically in the last year, up 33.3 percent since November 2020, including a 3.5 percent climb in November. Gasoline increased by 6.1 percent for the second consecutive month and 58.1 percent overall.
Among the commodities and services that saw price increases in November were vehicles, rent, furniture, and airline fares.
But, let's be fair, folks. At least Slow Joe doesn't make mean tweets, which are far worse than the above, right?