7.9% does not include the Russia effect. This rate was as of 2/28/2022. Expect March 2022 inflation to be “significantly higher” when it factors in the recent spike in oil and all other commodities due to Russia sanctions. I would not be surprised if the March inflation is not 10.0%. There are other commodities like Nickle (used in batteries) has just gone nuts and is up 100% in the last couple of days. Coal prices are absolutely INSANE they were about $160 in February and are currently about $360 but spiked to over $450 just a few days ago. They are talking about there being a wheat shortage due to Ukraine and everything wheat in food going up SIGNIFICANTLY HIGHER.
I would not be surprised if we don’t test the all time high inflation of 14.8% in 2022.
Remember it’s everybody’s fault except the guy running the country.
Considering that food, oil and housing were never included in past inflation numbers, isn’t it a little unfair to include them for Biden?
I agree, those people complaining they have to choose between paying for food, rent or gas in the car need to shut up.
They might be right. But in the past, food, gas and housing were not factored into the inflation numbers. Not even back in the good old days of the 70’s.
You are referring to “core inflation”
A single mother making $35,000 a year who just seen her rent go up 200 bucks a month, costs an extra 10 bucks to fill up the gas tank every week and she’s spending an extra $100 a month on the exact same groceries she bought 2 years ago doesn’t care what it’s called.
She better hope the baby daddy is helping with some of the costs.