{"id":1463595,"date":"2022-05-04T11:15:35","date_gmt":"2022-05-04T15:15:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1463595"},"modified":"2022-05-04T11:15:41","modified_gmt":"2022-05-04T15:15:41","slug":"experts-make-dire-warning-on-already-record-level-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/experts-make-dire-warning-on-already-record-level-inflation\/","title":{"rendered":"Experts Make Dire Warning On Already Record-Level Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexperts-make-dire-warning-on-already-record-level-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1463595&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/04\/Inflation-scaled-e1649777674400.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>While President Joe Biden and top economists in the federal government claim inflation will be short-lived, other experts say rising prices for just about everything will get worse \u2014 maybe much worse.<\/p>\n<p>Billionaire investor David Rubenstein said Americans will likely be suffering inflation for some time.<\/p>\n<p>\u201cInflation, as we all know, when it gets in the system, it\u2019s very hard to get it out,\u201d he <a href=\"https:\/\/www.foxnews.com\/media\/inflation-nation-experts-rising-prices-here-to-stay\">said<\/a> on Fox News. \u201cIt takes a long time to get it out, can take a couple of years.\u201d<\/p>\n<p>\u201cSo now I don\u2019t think the inflation rate this year will be what it was last month or so. I don\u2019t think we\u2019re going to have 8% annualized rate of inflation, but I suspect something around 5% is probably not unlikely, maybe even 6%,\u201d he added.<\/p>\n<p>Milken Institute Chief Economist Bill Lee agreed, saying inflation would be \u201cwell over 3.5%\u201d for the next five years.<\/p>\n<p>\u201cOne of the things that we\u2019ve seen is that inflation has, you know, very direct impacts on Americans, on American families and American businesses,\u201d Director of the Congressional Budget Office Phillip Swagel told Fox News Digital. \u201cIt also has implications for the implications for the budget. For American families, the high inflation that we\u2019ve seen the highest in decades has meant higher prices for food, for travel, for gasoline. It means that family incomes don\u2019t go as far. Family budgets are stretched.\u201d<\/p>\n<p>Last month, the Labor Department announced the consumer price index (CPI), which measures what Americans pay for everyday items such as food and gas, soared to the highest level in 41 years. The CPI leapt 8.5% from a year ago, according to data released April 14. Taking out food and energy, the CPI still increased by 6.5%.<\/p>\n<p>Such soaring inflation has not been seen since the late 1970s, when Jimmy Carter was president, and the early \u201980s, after Ronald Reagan took over.<\/p>\n<p>\u201cPrice increases came from many of the usual culprits,\u201d CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/04\/12\/consumer-prices-rose-8point5percent-in-march-slightly-hotter-than-expected.html\">reported<\/a>. \u201cFood rose 1% for the month and 8.8% over the year. \u2026 Energy prices were up 11% and 32%, respectively,\u201d while \u201cShelter cost, which make up about one-third of the CPI weighting, increased another 0.5% on the month, making the 12-month gain a blistering 5%.\u201d<\/p>\n<p>The White House has repeatedly sought to distance the president from soaring inflation, going so far as to coin a new term, \u201cPutin\u2019s price hike.\u201d<\/p>\n<p>When Biden took office, a gallon of regular gasoline was $2.37, <a href=\"https:\/\/gasprices.aaa.com\/\">according<\/a> to AAA. The average price of a gallon of gasoline is now $4.22, up 43% from a year ago.<\/p>\n<p>Consumers see the price hikes daily at the grocery store. \u201cThe cost of meat, poultry, fish and eggs is 13% higher since February 2021,\u201d CNBC <a href=\"https:\/\/www.cnbc.com\/2022\/04\/05\/how-much-more-expensive-groceries-are-due-to-inflation-item-by-item.html\">reported<\/a>. \u201cFresh fruit has gone up 10.6% in price in that time, while the price for vegetables has remained much more stable, increasing just 4.3%. The price of pre-packaged cereals and baked goods has increased 7.7%.\u201d<\/p>\n<p><em>Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent, and ran the Drudge Report from 2010 to 2015. Send tips to josephcurl@dailywire.com and follow him on Twitter @josephcurl.<\/em><\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same? <a class=\"in-cell-link\" href=\"https:\/\/www.dailywire.com\/subscribe\" target=\"_blank\" rel=\"noopener\">Become a member now and join our mission.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While President Joe Biden and top economists in the federal government claim inflation will be short-lived, other experts say rising prices for just about everything will get worse \u2014 maybe<\/p>\n","protected":false},"author":159,"featured_media":1481553,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1463595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1463595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1463595"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1463595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1481553"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1463595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1463595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1463595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}