{"id":1639986,"date":"2022-09-13T11:35:03","date_gmt":"2022-09-13T15:35:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1639986"},"modified":"2022-09-13T11:35:55","modified_gmt":"2022-09-13T15:35:55","slug":"us-inflation-for-august-shows-up-8-3-year-over-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-inflation-for-august-shows-up-8-3-year-over-year\/","title":{"rendered":"US inflation for August shows up 8.3% year-over-year"},"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%2Fus-inflation-for-august-shows-up-8-3-year-over-year%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=1639986&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 id=\"attachment_2375348\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2375348\" class=\"size-full wp-image-2375348\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/AP21047614851011.jpg\" alt=\"American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021, in New York. Stocks were modestly higher in early trading Tuesday, pushed by energy companies who have seen record electricity prices due to the frigid cold weather impacting much of the country. (AP Photo\/Frank Franklin II)\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/AP21047614851011.jpg 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/AP21047614851011-315x210-1.jpg 315w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/AP21047614851011-655x437-1.jpg 655w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/AP21047614851011-768x512-1.jpg 768w\" \/><\/p>\n<p id=\"caption-attachment-2375348\" class=\"wp-caption-text\">American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021. (AP Photo\/Frank Franklin II)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 8:06 AM PT \u2013 Tuesday, September 13, 2022<\/h5>\n<p>The <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">Consumer Price Index report for August<\/a> is out, showing inflation is up 8.3 percent from a year ago. Economists were expecting 8.1 percent year-over-year. The Labor Department released the report Tuesday, indicating inflation is slightly up by 0.1 percent from July.<\/p>\n<p>The CPI measures a range of prices for a typical basket of goods while core inflation does not include food and energy. The report shows inflation still remains near its highest levels in more than 40-years. The Federal Reserve has taken an aggressive approach to raise interest rates to combat inflation and will likely continue to raise rates following the latest report.<\/p>\n<p>President Joe Biden has continued to boast revving up America\u2019s economy, despite data showing he\u2019s only ramping up inflation. As long as Biden says the economy is booming, it has to be true right?<\/p>\n[embedded content]\n<p>On Monday, Senate Minority Leader Mitch McConnell (R-Ky.) gave Democrats in the upper chamber a reality check when he detailed how Biden\u2019s economic policies are actually affecting Americans.<\/p>\n<blockquote>\n<p><strong>\u201cAnd poll after poll has shown they\u2019re overwhelmingly dissatisfied with what President Biden and his party have done since then,\u201d he stated. \u201cOne survey found five consecutive times that more than 70 percent of Americans say our country is headed in the wrong direction, but that hasn\u2019t stopped Washington Democrats from following the same disastrous play over and over and over again.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>McConnell went on to squawk at Democrats for constantly proposing and passing bloated spending bills through Congress, stressing overspending by the federal government is causing of inflation. He pointed out after GOP warnings of skyrocketing inflation from the American Rescue Plan and Biden\u2019s Build Back Better agenda, Democrats last month rolled out yet another bloated bill with the so-called Inflation Reduction Act.<\/p>\n<p>The Kentucky Republican claims that legislation only continues Biden\u2019s war on American energy, weaponizes the IRS against average Americans and prioritizes the Biden climate agenda over the American public.<\/p>\n<blockquote>\n<p><strong>\u201cBut the American people don\u2019t want tens-of billions of dollars in wish fulfillment for climate activist, they want affordable gas and electricity,\u201d McConnell noted. \u201cThe American people don\u2019t want a bloated IRS, they want stronger support for law enforcement at the southern border and their communities. Washington Democrats have consistently misunderstood what the American people have asked them to do.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Meanwhile, Americans are still struggling to buy gas, food and other basic needs. Reports say more than half of Americans are admitting they are struggling financially while nearly 60 percent are reportedly living paycheck to paycheck. Financial experts also say this is affecting the middle class a lot harder than before inflation began lift-off.<\/p>\n<p>Additionally, retirees are lamenting they have had to go back to work over their depleted incomes, which couldn\u2019t stretch further amid the inflation of the dollar. In the meantime, while Wall Street and top government officials can tout a slight downturn of inflation and gas priced, doom still looms for America\u2019s economy.<\/p>\n<p>An economist at the Federal Reserve warned a severe recession is nearing as the Fed is mulling over a new batch of interest rate hikes. This has caused many officials, including New York City Mayor Eric Adams, to warn of future belt tightening among their governments in anticipation of a rocky road to economic recovery.<\/p>\n<p>The Consumer Price Index report appears to shows a recession is an impending phenomenon, which likely can\u2019t be avoided.<\/p>\n<h4>MORE NEWS:\u00a0<a href=\"https:\/\/www.oann.com\/biden-goes-bipartisan-route-in-ohio-after-labeling-maga-americans-as-threats-to-democracy\/\">Biden Goes Bipartisan Route In Ohio After Labeling MAGA Americans As \u2018Threats To Democracy\u2019<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021. (AP Photo\/Frank Franklin II) OAN NewsroomUPDATED 8:06 AM PT \u2013 Tuesday, September 13, 2022 The Consumer Price Index report for August is out, showing inflation is up 8.3 percent from a year ago. Economists were expecting 8.1 percent year-over-year. The Labor &hellip;<\/p>\n","protected":false},"author":79,"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-1639986","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\/1639986","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\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1639986"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1639986\/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=1639986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1639986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1639986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}