EDITOR'S NOTE: The Gateway Pundit reports on the rising inflation, which it calls “the Biden Effect.” The inflation rate rose 5.4% year-over-year in September, which is the highest rate in well over a decade. The Gateway Pundit notes that “Gas, food, and goods continue to be key drivers of inflation,” which hurts the poor and middle class the most. Gas alone is up 25% since Biden took office. While economists expected a bad inflation report, this was even higher than official estimates, which is terrible news for the U.S. economy right now and in the foreseeable future.
Photo: The Gateway Pundit
Inflation was up 5.4% year over year in September – the highest rate in 13 years!
Prices rose 0.4% in Sept, up from 0.3% in August.
Gas, food, and goods continue to be key drivers of inflation.
Gas is up 25% under Joe Biden — the poor and middle class hurt the most.
Used car prices fell slightly but remain 24% higher than last year.
— Exante Data (@ExanteData) October 13, 2021
The inflation rate rose to a 13-year high in September as rising costs for food and shelter pushed the rate up to 5.4 per cent.
Higher prices for food and shelter made up half of the increase in the overall rate, the U.S. Bureau of Labour Statistics said in a release. But the biggest individual category increase was energy, the cost of which has risen by almost 25 per cent in the past year.
Economists were expecting the number to come in at around 5.3 per cent, which would have been the highest rate since 2013. But the figure ended up being even higher.
Originally posted on The Gateway Pundit.