Exacerbating the Intolerable

Inflation data came out yesterday, with a print of 4.9% year-over-year. This is lower than previous months, so there was a sense of relief in the media that inflation is slowing.

For the beleaguered consumer, however, the message is that the currently intolerable prices are still going up.

Let’s cut to our graph standing by at the St Louis Fed:

Prices have gone up 16% since Biden took office two and a third years ago. During Trump’s 4 years in office, they went up slightly less than 8%.

Roughly twice the time and half the inflation.

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