The September inflation rate came in hotter than expected on Thursday at 8.2%.
The Core CPI surged to 6.6% – the highest rate since 1982.
Wholesale prices also rose ‘more than expected’ in September as inflation stays hot, hot, hot.
The producer price index (PPI) increased 0.4% in September – double what was estimated.
Stocks tumbled on the inflation news.
Biden’s economic advisors desperately tried to spin the inflation news.
White House Director of National Economic Council Brian Deese said of the accelerating inflation: “We’re making progress … We just have to – we just have to stay at it. We have policies that are going to make a difference. We have policies that have already made a difference. We just have to stay the course,” Brian Deese said on CNN.
WATCH:
Jared Bernstein, Biden’s chief economist said everything is moving in the right direction.
You just can’t make this up.
Inflation is accelerating and Biden’s chief econ advisor doubled down on Biden’s disastrous policies.
“All of these are moving in the right direction. They take time to factor into these price indices,” Bernstein said.
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