Breaking: The Worst In Decades

( – As Americans wake up this morning, the financial news is bad and getting worse.

As reported by National Review, according to the United States Department of Labor, “Consumer prices spiked at their fastest pace in more than 30 years last month.”

Stated another way, nearly 40% of Americans alive today have never experienced inflation at the rate that Americans are this year. And, as today’s report indicates, it’s eating into their income and their savings to the extent that it is proving detrimental to the American economy.

The Consumer Price Index – CPI – has increased 6.2 percent from just a year ago. That is the single largest increase since the month of November in 1990.

The Consumer Price Index is a measurement of how the price of certain goods and services like gasoline, health care, groceries, and rents changes over various periods of time.

Adding to the pain, as National Review noted today, “Fuel oil prices spiked 12.3 percent for the month and 59.1 percent over the past year.”

Unfortunately, financial experts do not see the crisis improving in the coming months as all of their predictions to date have been wrong as inflation is increasing at much higher rates than the experts predicted.

What do you think? What is your opinion about why inflation is at record levels in the United States of America? Is it President Joe Biden and his administration’s fault? Is it because the nation is coming out of recession caused by the global pandemic, as Biden and some economic experts claim? What should be done to rectify the situation? Share your thoughts and opinions by emailing [email protected]. Thank you.

© 2021