Economy — Opinion
Bidenflation Rises To 14.8%, Hurting Americans
- Americans’ struggle with high prices continues in 2023.
tippinsights Editorial Board
April 14, 2023 . 10:48 AM
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But few media outlets provided context, partly because doing so would shed the Biden administration in a terrible light. So, we are happy to oblige and fill in the gaps.
The CPI inflation rate measures how much more expensive things are getting over time. The government calculates the increase in the CPI rate over 12 months, so the base for March 2023 is March 2022, and for February 2023 is February 2022.
In March 2023, the CPI index was 301.836, 5.0% higher than its base of 287.504 for March 2022. And in February 2023, the CPI index was 300.840, 6.0% higher than its base of 283.716 for February 2022.
Between February 2022 and March 2022, the base increased sharply by 3.788 points or 1.34%. Even though the CPI index increased by 0.33% between February and March 2023, the headline CPI rate dropped from 6.0% to 5.0% because of the “base effect.”
In other words, the rate seemed lower than it actually was because the base was higher in March 2022. Things were getting more expensive but more expensive at a slower rate than the previous year. Only in Washington is this good news.
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Just go back in my blog and search for “penny candy”, “three silver dimes”, and the “twenty dollar gold piece that was an ounce of gold”.
Inflation makes each other dollar worth less. Since the 60’s, the dollar has lost 90+% of its purchasing power. My sainted father in law put a fifty dollar bill in his wallet when he got married and was secure that he could pay his rent and feed his family for a month with that. Sure, now it might buy two movie tickets and some popcorn but not much else.
How stupid are “We, The Sheeple” that we don’t see the Gooferment politicians and bureaucrats robbing us blind like the parasites that they are?