Inflation in the United States ticked up again in September, adding further strain to the pockets of Americans as the costs of food and auto insurance surged.
According to the Labor Department’s Consumer Price Index (CPI), inflation increased by 0.2% month-over-month and rose to 2.4% year-over-year.
This rise is slightly higher than economists’ expectations of 2.3%, suggesting that inflationary pressures are not easing as quickly as anticipated.
CPI Breakdown:
- CPI (MoM): 0.2% (expected 0.1%)
- Core CPI (MoM): 0.3% (expected 0.2%)
- CPI (YoY): 2.4% (expected 2.3%)
- Core CPI (YoY): 3.3% (expected 3.2%)
The core CPI, which excludes volatile categories like energy and food, also registered a significant increase, rising 0.3% on a monthly basis and 3.3% over the year. This suggests that inflation is persistent across various sectors of the economy, driven by rising service costs and significant increases in everyday goods like food and insurance.
Food Prices Soar Again:
The cost of food has been one of the most concerning aspects of rising inflation. In September, food prices jumped once again, continuing their upward trend. According to reports, the index for meats, poultry, fish, and eggs surged by 0.8% over the month, with eggs alone experiencing an 8.4% increase. Fruits and vegetables also rose by 0.9%, reversing the modest decline seen in August.
These increases are further exacerbating the cost of living for many Americans, who have already seen significant hikes in food prices over the past few years. Since Kamala Harris took office as Vice President, groceries have risen by 22.1%, with eggs up a staggering 69.2%. These numbers highlight the ongoing struggle for American families trying to manage their grocery bills.
Auto Insurance Costs Hit New Highs:
Another major driver of inflation in September was the surge in auto insurance prices. According to industry sources, auto insurance prices skyrocketed, marking a 56% increase since the Biden-Harris administration took office. The sharp rise in premiums has hit drivers hard, with many struggling to keep up with the new rates.
Auto insurance prices hit an all-time high in September, fueled by increasing repair costs, higher accident rates, and insurance companies passing on those costs to consumers. For drivers, this translates to a significant portion of their monthly expenses going toward insurance premiums, further tightening household budgets.
Broader Impact on American Households:
Inflation continues to affect a wide range of goods and services, leaving many Americans grappling with rising costs. Some of the most alarming price increases since Harris took office include:
- Gasoline: Up 38.2%
- Electricity: Up 31.3%
- Fuel oil: Up 37.4%
- Airfare: Up 24.5%
- Hotels: Up 42.4%
- Rent: Up 22.9%
- Transportation: Up 31.1%
- Baby food: Up 31%
- K-12 school meals: Up 69.7%
The combined effect of these price hikes is making it increasingly difficult for families to keep up with their expenses. The rising cost of basic necessities like gas, rent, and food is eroding real average weekly earnings, which have declined by 3.4% during the Biden-Harris administration. This means that despite rising wages in some sectors, inflation is outpacing income growth, leaving Americans with less purchasing power.
Political Fallout:
The Biden-Harris administration has been under intense scrutiny as inflation remains a major concern for voters heading into the 2024 election. Although inflation has eased from its peak in 2022, the persistent rise in core goods and services is raising questions about the administration’s ability to manage the economy.
Critics, including members of the Trump campaign, have been quick to point out that inflation remains higher than expected, and the burden of increased prices is hitting ordinary Americans the hardest. They argue that the administration’s policies have exacerbated the inflationary environment by fueling excess government spending and failing to address underlying economic issues like supply chain disruptions.
The latest data will likely give the Trump campaign more ammunition in its attacks on the Biden-Harris administration’s handling of the economy. With core inflation still above 3%, Republicans are expected to focus heavily on economic concerns as they appeal to voters in the upcoming election.
What’s Next?
The Federal Reserve will closely monitor the latest inflation data as it decides whether to implement additional interest rate hikes to combat rising prices. The central bank has already raised rates aggressively throughout 2023 in an effort to bring inflation down to its 2% target, but the recent uptick in core inflation may prompt further action.
For now, it remains unclear whether inflation will continue to rise in the coming months or if it will finally begin to ease. However, with ongoing price increases in critical areas like food and insurance, many Americans may not feel relief any time soon.
As inflation continues to be a major issue in the national conversation, both parties will need to address voter concerns about the cost of living in the lead-up to the 2024 election. For the Biden-Harris administration, the challenge will be convincing voters that they have a plan to bring prices down and stabilize the economy, while the opposition will seek to capitalize on inflationary pressures as a key campaign issue.
The DemoRats & Leftists are wrecking the country and there are idiots out there that will still vote for them. Watch what the Dumbo-crats DO
Matthew 7: (Jesus speaking)
15. Beware of false prophets, which come to you in sheep’s clothing, but inwardly they are ravening wolves.
16. Ye shall know them by their fruits. Do men gather grapes of thorns, or figs of thistles?
17. Even so every good tree bringeth forth good fruit; but a corrupt tree bringeth forth evil fruit. .
18. A good tree cannot bring forth evil fruit, neither can a corrupt tree bring forth good fruit.
19. Every tree that bringeth not forth good fruit is hewn down, and cast into the fire.
20. Wherefore by their fruits ye shall know them.
DemoRats are liars and deceivers.
The TDS people hate Trump because he calls it as he sees it. He doesn’t use soft words to spare people’s feelings.
the Truth
Perfect Trump campaign add exposing the destruction of American families by Biden-Harris administration.
(using a snapshot of your article)
-Broader Impact on American Households:
Inflation continues to affect a wide range of goods and services, leaving many Americans grappling with rising costs. Some of the most alarming price increases since Harris took office include:
Gasoline: Up 38.2%
Electricity: Up 31.3%
Fuel oil: Up 37.4%
Airfare: Up 24.5%
Hotels: Up 42.4%
Rent: Up 22.9%
Transportation: Up 31.1%
Baby food: Up 31%
K-12 school meals: Up 69.7%
The combined effect of these price hikes is making it increasingly difficult for families to keep up with their expenses. The rising cost of basic necessities like gas, rent, and food is eroding real average weekly earnings, which have declined by 3.4% during the Biden-Harris administration. This means that despite rising wages in some sectors, inflation is outpacing income growth, leaving Americans with less purchasing power. –
This 2024 election vote for change, for “unburdening what has been done” by Harris while she ponders that she wouldn’t change a thing in her “nothing comes to mind” when asked about doing anything different since being in office 4 years ago, as she has said, and “who can handle 4 more years of this?” as her running mate, Walz, has said.
Let’s get America back on the right track again. Vote for Trump-Vance!