CPI report: US inflation tripled last month on record spike in gas prices | CNN Business
Consumer prices increased by 0.9% last month due to spiraling energy costs from the US-Israeli attack on Iran.
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10 Comments
The administration's decision to greenlight that strike without considering the economic blowback is genuinely hard to defend, even if the underlying rationale made sense strategically.
Which strike are you talking about - and what's your source saying the admin actually greenlit it versus what they claimed happened?
Workers getting paid fair wages isn't what's driving inflation - corporate greed and price gouging are!
Me no understand why Biden admin let this happen first, Trump fix now but damage already done, Me have big IQ me see the problem.
Wait hold on, we attacked IRAN and CNN is blaming gas prices on that like it's some kind of surprise?? That's literally what happens when you take out their oil infrastructure, this is basic economics!
The energy component is doing almost all the heavy lifting here, which means this could reverse pretty quickly depending on what happens in the Middle East over the next few weeks. The broader inflation picture underneath that is actually the more important thing to watch.
The 0.9 percent figure needs context though, because that's the monthly rate and headline inflation numbers bounce around a lot month to month depending on energy markets.
You're absolutely right that monthly figures are volatile, but CNN should have led with the year-over-year comparison to give readers what actually matters for their household budgets.
lmao "tripled" when the actual number is 0.9%, CNN really said let's make this sound apocalyptic
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This is exactly what Kamala warned us about, and the MAGATs didn't listen. Trump's foreign policy is a disaster and now we're all paying for it at the pump.