Is this the end of Joe Biden?
I can feel the inflation when I visit restaurants or grocery stores. I am in the process of switching jobs and I wonder if the new offer would be 10% more than my current one. In that case I am okay but if I stay here, I am expecting another 1-3% raise so that is effectively a paycut.
https://www.foxbusiness.com/economy/december-inflation-consumer-price-index
I can feel the inflation when I visit restaurants or grocery stores. I am in the process of switching jobs and I wonder if the new offer would be 10% more than my current one. In that case I am okay but if I stay here, I am expecting another 1-3% raise so that is effectively a paycut.
https://www.foxbusiness.com/economy/december-inflation-consumer-price-index
Quote:
Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden's approval rating tumbling.
The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released Wednesday, marking the fastest increase since June 1982, when inflation hit 7.1%. The CPI which measures a bevy of goods ranging from gasoline and health care to groceries and rents jumped 0.5% in the one-month period from November.
Economists expected the index to show that prices surged 7% in December from the year-ago period and 0.4% from the previous month.
So-called core prices, which exclude more volatile measurements of food and energy, soared 5.5% in December from the previous year a sharp increase from November, when it rose 4.9%. It was the steepest 12-month increase since 1982.
