{"id":1733173,"date":"2022-11-10T08:37:32","date_gmt":"2022-11-10T13:37:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1733173"},"modified":"2022-11-10T10:18:13","modified_gmt":"2022-11-10T15:18:13","slug":"labor-department-inflation-rose-7-7-in-october","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/labor-department-inflation-rose-7-7-in-october\/","title":{"rendered":"Labor Department: Inflation Rose 7.7% in October"},"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\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" 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mashshare.net - Version: 4.0.47--><p>    October CPI: More inflation data shatter Biden&#8217;s economic narrative<br \/>\n    <meta \/><br \/>\n    <meta content=\"width=device-width, initial-scale=1.0\" \/>\n    <link rel=\"pingback\" href=\"https:\/\/www.based-politics.com\/xmlrpc.php\" \/>\n    <meta content=\"index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1\" \/><\/p>\n<p>\t<meta content=\"The October CPI shatters President Biden&#039;s economic narrative by showing prices rising and real wages in decline.\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.based-politics.com\/2022\/11\/10\/october-cpi-more-inflation-data-shatter-bidens-economic-narrative\/\" \/>\n\t<meta content=\"en_US\" \/><br \/>\n\t<meta content=\"article\" \/><br \/>\n\t<meta content=\"More inflation data shatter Biden\u2019s economic narrative\" \/><br \/>\n\t<meta content=\"Is this really what \u2018Build Back Better\u2019 was supposed to look like?\" \/><br \/>\n\t<meta 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recovery<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"td-outer-wrap\" class=\"td-theme-wrap\">\n<div id=\"tdb-autoload-article\" data-autoload=\"off\" data-autoload-org-post-id=\"6034\" data-autoload-type=\"\" data-autoload-count=\"5\">\n<div class=\"td-main-content-wrap td-container-wrap\">\n<div class=\"tdc-content-wrap\">\n<article id=\"template-id-2817\" class=\"post-2817 tdb_templates type-tdb_templates status-publish post\" itemscope itemtype=\"https:\/\/schema.org\/Article\">\n<div id=\"tdi_69\" class=\"tdc-zone\">\n<div class=\"tdc_zone tdi_70  wpb_row td-pb-row\">\n<div id=\"tdi_71\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_72  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_74  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_subtitle tdi_76 td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_76\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>Is this really what \u2018Build Back Better\u2019 was supposed to look like?<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_78\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_79  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_81  wpb_column vc_column_container tdc-column td-pb-span9\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_featured_image tdi_82 tdb-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_82\">\n<div class=\"tdb-block-inner td-fix-index\">\n<figure>\n                                    <img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"392\" class=\"entry-thumb\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-696x392-1.png\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-696x392-1.png 696w, https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/03\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-300x169.png 300w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-1024x576-1.png 1024w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-768x432-1.png 768w, https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/03\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-150x84.png 150w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-1068x601-1.png 1068w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2-747x420-1.png 747w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2.png 1280w\" alt=\"Inflation Reduction Act\" title=\"Biden Burning Money\" \/><figcaption class=\"tdb-caption-text\">Image Credit: White House<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"vc_row_inner tdi_85  vc_row vc_inner wpb_row td-pb-row\">\n<div class=\"vc_column_inner tdi_87  wpb_column vc_column_container tdc-inner-column td-pb-span12\">\n<div class=\"vc_column-inner\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_author tdi_88 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_88\">\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-author-photo\" href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_date tdi_89 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_89\">\n<p><time class=\"entry-date updated td-module-date\" datetime=\"2022-11-10T09:54:29-04:00\">November 10, 2022<\/time><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_content tdi_92 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_92\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p><span>President Biden continues to insist that the economy is thriving under his leadership. Yet more inflation data just dropped that once again eviscerate this false narrative.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today\u2019s jobs report\u2014adding 261,000 jobs with the unemployment rate still at a historically low 3.7%\u2014shows that our jobs recovery remains strong.  <\/p>\n<p>While comments by Republican leadership sure seem to indicate they are rooting for a recession, the U.S. economy continues to grow.<\/p>\n<p>\u2014 Joe Biden (@JoeBiden) <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1588615064717770753?ref_src=twsrc%5Etfw\" class=\"stylish-link\">November 4, 2022<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: US inflation grew at a 7.7% annual pace in October. That\u2019s still high, but it\u2019s the 1st month below 8% since February. (Inflation peaked at 9.1% in June).<\/p>\n<p>Rent, food, gas and electricity costs are the big drivers. <br \/>In October alone, \u201cshelter\u201d contributed over half<\/p>\n<p>\u2014 Heather Long (@byHeatherLong) <a href=\"https:\/\/twitter.com\/byHeatherLong\/status\/1590698924309811200?ref_src=twsrc%5Etfw\" class=\"stylish-link\">November 10, 2022<\/a><\/p>\n<\/blockquote>\n<p><span>On Thursday morning, the Bureau of Labor Statistics (BLS) released the latest Consumer Price Index, which <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" class=\"stylish-link\"><span>showed<\/span><\/a><span> average consumer prices rising 0.4% just in October alone. On an annualized basis, consumer prices rose 7.7% from October 2021 to October 2022. That\u2019s\u2026 a lot. And it means that unless you\u2019ve gotten an 8% raise or more, your wages have actually gone down!<\/span><\/p>\n<p><span>Indeed, other <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/realer.nr0.htm\" class=\"stylish-link\"><span>data<\/span><\/a><span> released by the BLS Thursday morning also show Americans\u2019 real wages\u2014wages adjusted for inflation\u2014in decline.<\/span><\/p>\n<p><span>They fell 0.1% last month, as nominal wage gains were erased by the rise in prices. Over the last year, from October 2021 to October 2022, Americans\u2019 real weekly earnings fell by a whopping 3.7%.<\/span><\/p>\n<p><span>Not great, Bob. Is this really what \u201cBuild Back Better\u201d was supposed to look like?<\/span><\/p>\n<p><span>Of course, inflation is not entirely President Biden\u2019s fault. Some blame lies with the Republican Party, too, for its complicity in passing massive stimulus bills early in the pandemic that we could not afford. And the Federal Reserve, America\u2019s central bank, ultimately <a href=\"https:\/\/www.based-politics.com\/2022\/02\/10\/inflation-surged-7-5-in-january-heres-why\/\" class=\"stylish-link\">printed the trillions of dollars<\/a> that flooded our system and led to higher prices. Some level of inflation was also perhaps inevitable as a function of global inflation, although it was certainly <a href=\"https:\/\/www.frbsf.org\/economic-research\/publications\/economic-letter\/2022\/march\/why-is-us-inflation-higher-than-in-other-countries\/\" class=\"stylish-link\">worsened<\/a> by President Biden signing an even more unnecessary and wasteful stimulus bill in 2021 and his <a href=\"https:\/\/www.based-politics.com\/2022\/06\/18\/is-biden-to-blame-for-high-gas-prices\/\" class=\"stylish-link\">policies that have contributed to high gas prices<\/a>.\u00a0<\/span><\/p>\n<p><span>Things are rough for American families right now in this economy. The reasons why are complicated, but President Biden deserves his fair share of the blame\u2014and needs to stop trying to pretend everything\u2019s going swell when data and real-world experiences alike all suggest otherwise.\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Like this article? 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His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor\u2019s degree in economics from the University of Massachusetts Amherst.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>                    <span class=\"td-page-meta\" itemprop=\"author\" itemscope itemtype=\"https:\/\/schema.org\/Person\"><meta itemprop=\"name\" content=\"Brad Polumbo\" \/><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" \/><\/span><meta itemprop=\"datePublished\" content=\"2022-11-10T09:54:29-04:00\" \/><meta itemprop=\"dateModified\" content=\"2022-11-10T09:54:29-04:00\" \/><meta itemscope itemprop=\"mainEntityOfPage\" itemtype=\"https:\/\/schema.org\/WebPage\" itemid=\"https:\/\/www.based-politics.com\/2022\/11\/10\/october-cpi-more-inflation-data-shatter-bidens-economic-narrative\/\" \/><span class=\"td-page-meta\" itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\"><span class=\"td-page-meta\" itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/2022\/11\/10\/october-cpi-more-inflation-data-shatter-bidens-economic-narrative\/\" \/><\/span><meta itemprop=\"name\" content=\"Based Politics\" \/><\/span><meta itemprop=\"headline\" content=\"Is this really what \u2018Build Back Better\u2019 was supposed to look like?\" \/><span class=\"td-page-meta\" itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Black-Orange-Simple-Sprots-Moment-Youtube-Thumbnail-2.png\" \/><meta itemprop=\"width\" content=\"1280\" \/><meta itemprop=\"height\" content=\"720\" \/><\/span>                <\/article>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>October CPI: More inflation data shatter Biden&#8217;s economic narrative<\/p>\n","protected":false},"author":1,"featured_media":1435259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1733173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1733173","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1733173"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1733173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1435259"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1733173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1733173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1733173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}