{"id":1846317,"date":"2023-02-14T10:19:27","date_gmt":"2023-02-14T15:19:27","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1846317"},"modified":"2023-02-14T10:21:51","modified_gmt":"2023-02-14T15:21:51","slug":"inflation-rises-more-than-expected-in-january-after-biden-claimed-prices-are-coming-down","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-more-than-expected-in-january-after-biden-claimed-prices-are-coming-down\/","title":{"rendered":"Inflation Rises More Than Expected In January After Biden Claimed Prices Are \u2018Coming Down\u2019"},"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\">28<\/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-rises-more-than-expected-in-january-after-biden-claimed-prices-are-coming-down%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=1846317&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-->\n<p>Between January 2022, and January 2023, the Consumer Price Index grew 6.4% <a href=\"http:\/\/dailywire.com\/topic\/inflation\" target=\"_blank\" rel=\"noopener\">Price<\/a> According to A, household staples like food and shelter continue to be under pressure. <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" target=\"_blank\" rel=\"noopener\">Report<\/a> Source: Bureau of Labor Statistics<\/p>\n<p>The month-to-month increase of 0.5% exceeded analysts\u2019 forecasts, while core inflation, which factors out the more volatile food and energy categories, rose 0.4%, also surpassing expectations. While energy prices rose 2.0%, food prices rose 0.5% and shelter prices rose 0.7%.<\/p>\n<p>\u201cThe pace of disinflation has slowed, and if a 0.5% monthly increase in headline and 0.4% in core prices are what passes for progress, we have low expectations,\u201d Greg McBride, Chief Financial Analyst at Bankrate, stated these words in comments to The Daily Wire.<\/p>\n<p>One week after President Joe Biden&#8217;s last price level report, the latest comes in. <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2023\/02\/07\/remarks-of-president-joe-biden-state-of-the-union-address-as-prepared-for-delivery\/\" target=\"_blank\" rel=\"noopener\"><\/a> That \u201cinflation is coming down\u201d In his second State of the Union speech. \u201cInflation has been a global problem because of the pandemic that disrupted supply chains and Putin\u2019s war that disrupted energy and food supplies,\u201d He stated. \u201cBut we\u2019re better positioned than any country on Earth.\u201d<\/p>\n<p>Inflation readings of 6.4% and 6.5% in January 2023 were slightly lower than those recorded in December 2022. The main reason for the disinflation was the decline in energy prices which fell 4.5% over the month before. However, this trend is now reversing as prices for gasoline and utilities gas services increased 2.4% and 6.7%, respectively, in January 2023. After gasoline prices reached their peak, the fuel costs have risen. <a href=\"https:\/\/www.dailywire.com\/news\/gas-prices-in-2022-were-the-highest-on-record-heres-where-they-could-be-heading-next-year\" target=\"_blank\" rel=\"noopener\">H\u00f6chstes Niveau<\/a> Recorded last year.<\/p>\n<p>Families trying to survive on a tight budget have felt the effects of rising food prices. The cost of food at home rose 11.3% in January 2022 to January 2023 while the price of food abroad increased 8.2%.<\/p>\n<p>\u201cThe broad-based improvement needed to be seen in order to feel good about where inflation is headed is still lacking,\u201d McBride continued. \u201cThe leading contributors continue to be categories that are staples of the household budget: food, shelter, electricity, natural gas, apparel, vehicle insurance, and household furnishing and operations.\u201d<\/p>\n<p>Inflation has in fact eroded household purchasing power, and some consumers have been forced to pay more. <a href=\"https:\/\/www.dailywire.com\/news\/personal-savings-rate-plummets-to-lowest-level-since-2005\" target=\"_blank\" rel=\"noopener\">fund<\/a> Their budgets are balanced between savings and debt. Gallup survey respondents surveyed approximately 50% <a href=\"https:\/\/news.gallup.com\/poll\/469898\/half-say-worse-off-highest-2009.aspx\" target=\"_blank\" rel=\"noopener\">Survey<\/a> They are, they said. \u201cfinancially worse off\u201d Comparatively to one year ago 35% think they are \u201cfinancially better off,\u201d The poll&#8217;s most disappointing results since 2008\/2009, when the economy crashed, were the ones that resulted in the worst-ever dismal results. Low-income households are more likely to say that they are financially less fortunate.<\/p>\n<p>\u201cInflation has shredded household budgets over the past two years, and not just when it comes to one-off discretionary expenses or special occasions, but for keeping up with day-to-day bills,\u201d McBride was also added. \u201cUntil inflation returns to the 2% neighborhood, pressure on household finances will continue.\u201d<\/p>\n<p>Federal Reserve officials have increased the target federal funds rate to combat inflationary pressures. Officials <a href=\"https:\/\/www.dailywire.com\/news\/federal-reserve-raises-target-interest-rates-by-quarter-point-marking-slowdown-of-aggressive-hikes\" target=\"_blank\" rel=\"noopener\">raised<\/a> Rates increased by 0.2% earlier in the month, after four new features were introduced <a href=\"https:\/\/www.dailywire.com\/news\/breaking-federal-reserve-hikes-target-interest-rates-half-a-percentage-point\" target=\"_blank\" rel=\"noopener\">Consecutive<\/a> In the second half of 2013, there were two rate increases: 0.75% and 0.5%. McBride stated that central bankers will likely increase interest rates by 0.2% at their next meeting, but more inflation and unemployment data will be available before they make their decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Price Index rose 6.4% between January 2022 and January 2023 as price pressure from household staples such as food and shelter remains elevated, according to a report from the Bureau of Labor Statistics. The month-to-month increase of 0.5% exceeded analysts\u2019 forecasts, while core inflation, which factors out the more volatile food and energy &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1839428,"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":[541],"tags":[3620,4308,4726,4010,4183,5708,3780,4590,12396],"class_list":["post-1846317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-biden","tag-claimed","tag-coming","tag-down","tag-expected","tag-inflation","tag-january","tag-prices","tag-rises"],"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\/1846317","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1846317"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1846317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1839428"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1846317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1846317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1846317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}