Consumer Prices See 'Largest 12-Month Increase' Since 2008

Nick Kangadis | July 13, 2021

President Joe Biden’s regime can’t deny the inflation that’s been going on during his short time in office any longer.

The U.S. Bureau of Labor Statistics (BLS) released their monthly Consumer Price Index (CPI) report on Tuesday, and it’s apparently worse than expected.

According to the report:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008. 

That’s right. The inflation rate saw its “largest 12-month increase” in very nearly 13 years.

Breitbart reported that economists predicted the “consumer prices” would rise a half percent in June, but the 0.9 percent reported in the CPI report almost doubled expectations.

Another significant point brought up in the CPI summary is that the index has been increasing every month since Biden took office.

“The all items index rose 5.4 percent for the 12 months ending June; it has been trending up every month since January, when the 12-month change was 1.4 percent,” the summary stated.