The Bureau of Labor Statistics just released its Consumer Price Index (CPI) report for October and, far from showing that Bidenflation is the “transitory,” minor problem that Team Biden pretend it is, the report shows that inflation just keeps getting worse.
According to the November 10th report, the CPI rose 6.2% in October, from a year ago, and rose 0.9% in October alone. Both numbers were higher than what analysts predicted. Those estimates were about 5.9% year over year and 0.6% for the month.
And it’s not just a few items that are increasing. Food, energy, shelter, vehicles, and many other items all jumped in price, as the report describes:
The monthly all items seasonally adjusted increase was broad-based, with increases in the indexes for energy, shelter, food, used cars and trucks, and new vehicles among the larger contributors. The energy index rose 4.8 percent over the month, as the gasoline index increased 6.1 percent and the other major energy component indexes also rose. The food index increased 0.9 percent as the index for food at home rose 1.0 percent.
The index for all items less food and energy rose 0.6 percent in October after increasing 0.2 percent in September. Most component indexes increased over the month. Along with shelter, used cars and trucks, and new vehicles, the indexes for medical care, for household furnishing and operations, and for recreation all increased in October. The indexes for airline fares and for alcoholic beverages were among the few to decline over the month.
And while those decimal percentages might sound small, the continued drumbeat of inflation has added up over time, pushing this year’s inflation ever higher. In fact, as the Burea of Labor Statistics describes in the report, this level of inflation is the worst America has seen in decades:
The all items index rose 6.2 percent for the 12 months ending October, the largest 12-month increase since the period ending November 1990. The index for all items less food and energy rose 4.6 percent over the last 12 months, the largest 12-month increase since the period ending August 1991. The energy index rose 30.0 percent over the last 12 months, and the food index increased 5.3 percent.
One of the biggest areas of concern for many Americans is the cost of food, which has risen precipitously during Biden’s time in office. The statistics provided by the report will likely only heighten that concern:
The food at home index rose 5.4 percent over the past 12 months as all of the six major grocery store food group indexes increased over the period. The index for meats, poultry, fish, and eggs increased 11.9 percent, with the index for beef rising 20.1 percent and the index for pork rising 14.1 percent, its largest 12-month increase since the period ending December 1990. The other major grocery store food group indexes also increased over the last 12 months with increases ranging from 1.8 percent (dairy and related products) to 4.5 percent (nonalcoholic beverages).
The index for food away from home rose 5.3 percent over the last year. The index for limited service meals rose 7.1 percent over the last 12 months, and the index for full service meals rose 5.9 percent, both the largest 12-month increases in the history of the respective series. The index for food at employee sites and schools declined sharply over the past year, falling 45.4 percent.\
Despite the steadily building crisis, Team Biden has shown little real concern or initiative. In fact, all we’ve gotten out of President Brandon himself so far is this faltering, embarrassing attempt at a statement:
Joe Biden has inflation under control, guys. Seriously, this is so embarrassing. pic.twitter.com/D8eUw9ucbZ
— Clay Travis (@ClayTravis) November 2, 2021
If that’s all there is going into the Biden Administration’s response to the inflation crisis, this will be a long, cold, hungry winter for those many Americans that can’t afford yet higher prices for bread and fuel.