Consumer prices ahve RISEN…..
Traiffs and import taxes WILL make things WORSE…
Make America Great from a guy who had how many business bankruptcies?
On a monthly basis, inflation increased 0.3 percent from October to November, faster than the previous monthly rise, as prices for housing, energy and particularly food all rose.
Excluding volatile food and energy categories, “core” prices were up 0.3 percent for the fourth straight month and 3.3 percent for the year.
The fresh data underscores the economic concerns of Americans, who voted out incumbents in federal elections last month even as inflation eased for the year.
While Trump criticized President Joe Biden’s administration for failing to curb inflation, the report makes clear inflation challenges will extend through the next administration, threatening to complicate incoming Republicans’ plans to lower taxes and raise tariffs, policies that could influence inflation.
Shelter prices grew by 0.3 percent and accounted for more than 40 percent of the November rise in overall inflation. Food prices also rose 0.4 percent, as prices for beef increased 3.1 percent. Prices for eggs rose 8.2 percent and are up 37.5 percent for the year. Gasoline increased by 0.6 percent after falling the prior four months.
Consumers traveling for end-of-the-year holidays may have noticed higher airfares, which rose 0.4 percent for the month and were up 4.7 percent annually. Motor vehicle prices grew by 5.7 percent annually, while auto insurance jumped 12.7 percent…
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