{"id":1598613,"date":"2022-08-10T08:40:09","date_gmt":"2022-08-10T12:40:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1598613"},"modified":"2022-08-10T08:40:23","modified_gmt":"2022-08-10T12:40:23","slug":"inflation-rages-on-as-gas-food-prices-squeeze-americans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rages-on-as-gas-food-prices-squeeze-americans\/","title":{"rendered":"Inflation Rages On As Gas, Food Prices Squeeze Americans"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/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%2Finflation-rages-on-as-gas-food-prices-squeeze-americans%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=1598613&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:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/inflation-groceries-e1660075178477-scaled.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Inflation remains at historic highs, at 8.5% from July 2021 to 2022,\u00a0 according to a Bureau of Labor Statistics (BLS) report released Wednesday, as the Biden administration takes a victory lap on lowering energy prices.<\/p>\n<p>The Consumer Price Index (CPI) rose by 0.2% from June to July <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">according<\/a> to the BLS. From May to June, the CPI, which represents the average change in the price of consumer goods, <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">rose<\/a> by 1.3%.<\/p>\n<p>\u201cThe food index increased 1.1 percent in July; this was the seventh consecutive monthly increase of 0.9 percent or more,\u201d the BLS report states. \u201cThe index for all items less food and energy rose 0.3 percent in July after increasing 0.7 percent in June. The shelter index continued to rise but did post a smaller increase than the prior month, increasing 0.5 percent in July compared to 0.6 percent in June.\u201d<\/p>\n<p>\u201cOn the inflation front, the Biden administration has lost all credibility,\u201d E.J. Antoni, a research fellow at The Heritage Foundation, told the Daily Caller News Foundation (DCNF). \u201cAfter excusing last month\u2019s horrendous CPI report as \u2018out-of-date,\u2019 they can hardly take a victory lap on July\u2019s energy prices, since those numbers are now out of date as well, as is every single one of these government data reports.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Gas prices are now down by nearly a dollar per gallon over the past 55 days. This drop is the fastest decline in gas prices in over a decade \u2013 delivering vital relief to American families.<\/p>\n<p>\u2014 The White House (@WhiteHouse) <a href=\"https:\/\/twitter.com\/WhiteHouse\/status\/1556792375795716097?ref_src=twsrc%5Etfw\">August 9, 2022<\/a> <\/p>\n<\/blockquote>\n<p>Last month, White House press secretary Karine Jean-Pierre <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2022\/07\/12\/press-briefing-by-press-secretary-karine-jean-pierre-and-national-security-advisor-jake-sullivan\/\" target=\"_blank\" rel=\"noopener noreferrer\">downplayed<\/a> June CPI data as out of date, since energy prices were falling from their peak in June. No such announcement has been released for the July data.<\/p>\n<p>While energy prices have come down substantially from their peak of over $5 per gallon in June, they had only fallen to $4.03 per gallon as of Tuesday, still 26% higher than they were last year, according to <a href=\"https:\/\/gasprices.aaa.com\/\">data<\/a> from the American Automobile Association (AAA). While the AAA did credit the falling cost of gasoline in part to a decrease in oil prices, reduced demand as consumers avoided the pump was also a major factor, <a href=\"https:\/\/gasprices.aaa.com\/\">according<\/a> to an AAA press release.<\/p>\n<p>\u201cOil is the primary ingredient in gasoline, so less expensive oil is helpful in taming pump prices,\u201d said Andrew Gross, AAA spokesman. \u201cCouple that with fewer drivers fueling up, and you have a recipe for gas prices to keep easing. It\u2019s possible that the national average will fall below $4 this week.\u201d<\/p>\n<p>In July, Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/07\/13\/president-biden-statement-on-cpi-inflation-in-june\/\" target=\"_blank\" rel=\"noopener noreferrer\">credited<\/a> the reduction in gas prices to the release of oil from the strategic petroleum reserve. Last week, the Daily Caller News Foundation spoke with Daniel Turner, executive director of energy advocacy group Power The Future, who pointed out that while the strategic petroleum reserve was filled at $60 per barrel, the Department of Energy is planning to refill it at $90 per barrel, a net loss of $30 per barrel on the millions of barrels the administration has released from the reserve. <strong><a href=\"https:\/\/dailycaller.com\/2022\/08\/03\/fleecing-taxpayers-pay-biden-emergency-oil-reserves\/\">(RELATED: \u2018Fleecing Taxpayers\u2019: Here\u2019s How Americans Will Pay For Biden\u2019s Draining Of Emergency Oil Reserves)<\/a><\/strong><\/p>\n<p>\u201cBiden is fleecing taxpayers to save the midterms,\u201d said Turner.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation remains at historic highs, at 8.5% from July 2021 to 2022,\u00a0 according to a Bureau of Labor Statistics (BLS) report released Wednesday, as the Biden administration takes a victory<\/p>\n","protected":false},"author":1181,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1598613","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\/1598613","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\/1181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1598613"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1598613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1598613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1598613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1598613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}