Treasury Secretary Janet Yellen on Sunday said rising prices will continue until “the end of next year.”
Inflation was up 5.4% year over year in September – the highest rate in 13 years!
Prices rose 0.4% in Sept, up from 0.3% in August.
Gas, food, and goods continue to be key drivers of inflation.
Gas is up 42% since last year (and rising) — the poor and middle class hurt the most.
“When do you expect inflation to get back to the 2% range which is considered normal? 2022? 2023? When?” CNN’s “State of the Union” host Jake Tapper asked Yellen on Sunday.
“Well I expect that to happen next year,” Yellen said. “The inflation rate will remain high into next year…I expect improvement by the middle to end of next year.”
VIDEO:
Meanwhile, the Biden White House shrugs off inflation and the supply chain crisis as “high class problems.”
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