Breaking News: Current Inflation Rate Exposes The Lies That Biden Stated During His State Of The Union Address 

Credits: Bloomberg, Chip Somodevilla

President Joe Biden’s SOTU address, during which he bragged that the “inflation is coming down,” is getting harshly criticized after the report by the U.S. Department of Labor revealed that inflation hiked massively. 

Americans are suffering from increases in home, energy, and gas prices and it is affecting them in every way possible.

During Biden’s SOTU address, he claimed, “gas prices are down $1.50 a gallon since their peak. Food inflation is coming down. Inflation has fallen every month for the last six months,” however, the conclusion, issued by Labor Department, is looking right into Biden’s eyes for his exaggerated statements. 

As per the CNBC report:

“The consumer price index, which measures a broad basket of common goods and services, rose 0.5 percent for the month, which translated to an annual gain of 6.4 percent. Economists surveyed by Dow Jones had been looking for respective increases of 0.4 percent and 6.2 percent.”

The report added:

“Excluding volatile food and energy, core CPI increased 0.4 percent monthly and 5.6 percent from a year ago, against respective estimates of 0.3 percent and 5.5 percent,” the report continued. “Energy also was a significant contributor, up 2 percent and 8.7 percent respectively, while food costs rose 0.5 percent and 10.1 percent respectively.”

According to the Bureau of Labor Statistics report, for January, the average hourly wage of Americans has dropped by 0.2%, and a total of 1.8% has dropped year-over-year. On the other hand, a massive increase in primary commodity prices has also affected Americans with a major loss. 

The new records from January point out that inflation is continuously weighing the economy severely and also there is a risk for America to drown further in this massive inflation wave. 

National Review noted: 

“While gas prices are indeed! Considerably lower than last June, they’re high by historical standards for the month of January, according to Energy Information Administration records.”

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