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Inflation Continues To Rise As Crisis Worsens



Prices continued to soar last month as the record-breaking inflation crisis that began under President Biden continued, according to a new report from the Bureau of Labor Statistics. 

Prices rose “0.4 percent in September on a seasonally adjusted basis, after increasing 0.6 percent in August,” the report said. Over the last year, prices increased by 3.7 percent before seasonal adjustment. 

The largest contributor to the high inflation rate was an increase in the price of shelter, which was responsible for over half of the increase. Additionally, rising gas prices were also a major contributor to the inflation rate, and are currently more than 50% higher than when Biden took office. 

Despite the bad economic news, Biden released a statement attempting to paint the report as good news. 

“This morning’s report shows core inflation fell to its lowest level in two years,” he began, it should be noted that “core inflation” excludes necessities like food and energy. 

“Overall inflation is down by 60% from its peak at a time when unemployment has remained below 4% for 20 months in a row and the share of working-age Americans in the workforce is the highest in 20 years,” he added. “That’s Bidenomics in action. I’ll continue to fight to build an economy from the middle out and bottom up—even as Republicans in Congress make reckless threats to weaken our economy, prioritize tax cuts for the wealthy and large corporations, and push for deep cuts to programs that are essential for hardworking Americans and seniors.”

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