{"id":1996617,"date":"2023-08-10T13:16:01","date_gmt":"2023-08-10T17:16:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-after-months-of-decline-new-bureau-of-labor-statistics-report-shows\/"},"modified":"2023-08-10T13:18:16","modified_gmt":"2023-08-10T17:18:16","slug":"inflation-rises-after-months-of-decline-new-bureau-of-labor-statistics-report-shows","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-after-months-of-decline-new-bureau-of-labor-statistics-report-shows\/","title":{"rendered":"Inflation surges after months of decline, says new report by Bureau of Labor Statistics."},"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\">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-after-months-of-decline-new-bureau-of-labor-statistics-report-shows%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=1996617&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--><h2>Inflation Rises After Months of Decline,\u2064 New Bureau of Labor \u200bStatistics\u200d Report Shows<\/h2>\n<p>Inflation rose\u2063 in July after steadily\u200b declining \u2063from a \u200chigh of 9.1 \u2063percent \u2063in June 2022, according to the latest Bureau of\u200b Labor Statistics <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" target=\"_blank\" rel=\"noopener\">release<\/a> on Thursday.<\/p>\n<p>The Consumer Price\u2062 Index, a \u2064broad measure of the prices of everyday goods like energy and food, increased <strong>3.2 percent<\/strong> on an annual \u200bbasis in July, compared with 3.0 \u2063percent in \u200cJune, according to\u2062 the\u200d BLS.<\/p>\n<p>Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.7 percent year-over-year in\u2064 July, compared with 4.8 percent in June.<\/p>\n<p>\u201cInflation has become\u200b much \u2064more ingrained in the economy than the White \u2064House, Congress, or the \u2062Fed\u200d want to admit,\u201d E.J. Antoni, \u2064a\u2062 research fellow at the Heritage \u200bFoundation\u2019s Grover M. Hermann Center for the Federal Budget, told\u200d the\u200c Daily Caller\u2063 News Foundation.<\/p>\n<p>\u201cCombined with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/omicron-fears-spook-consumers-slow-economic-recovery\/\" title=\"Omicron Fears Spook Consumers, Slow Economic Recovery\">slowing economic growth<\/a>, \u2063we have the perfect recipe for stagflation,\u201d Antoni \u200csaid.<\/p>\n<p>The Federal Reserve, in an\u2063 attempt to slow\u2064 <a href=\"https:\/\/www.westernjournal.com\/bidens-america-much-bidenonmics-cut-paycheck\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a>, raised \u2064interest\u2063 rates for the 11th time\u200d since March 2022 in July, bringing the\u2063 Fed\u2019s federal\u2064 funds target rate within a range of 5.25 percent and 5.50 percent. The rate is \u2063the highest \u2064since 2001.<\/p>\n<p>Fed Chairman Jerome Powell remarked \u200bafter the \u200dJuly \u2064Federal \u2064Open\u200c Market Committee meeting that he \u2064did not believe that the \u2064inflation \u2063rate would return to the normal level of 2 percent until 2025.<\/p>\n<p>He noted\u2062 that interest rates will \u200dbe lowered before the <a href=\"https:\/\/www.westernjournal.com\/watch-view-hosts-clueless-bidens-economy-claim-now-easier-feed-family\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> rate reaches \u2064that level.<\/p>\n<h3>Has the economy become\u200c worse under Biden?<\/h3>\n<ul>\n<li>Yes<\/li>\n<li>No<\/li>\n<\/ul>\n<div class=\"firefly-poll-disclaimer\">\n<p>\tCompleting this poll\u2063 entitles you to The Western Journal news updates free of charge. You \u2062may opt out\u2062 at anytime. You also agree to our <a href=\"https:\/\/www.westernjournal.com\/about\/privacy-policy\/\">Privacy \u200bPolicy<\/a> and <a href=\"https:\/\/www.westernjournal.com\/about\/terms-service\/\">Terms of Use<\/a>.\n<\/div>\n<p>\u201cI think Powell is right\u2062 when he says inflation\u2062 will not return to 2 percent until 2025,\u201d Antoni told the DCNF. \u201cThe Fed under his \u200dchairmanship simply doesn\u2019t happen \u2062the stomach to\u200d fight inflation.<\/p>\n<p>\u201cGiven today\u2019s interest rates and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-spending-falls-in-dec-sentiment-dips-in-jan\/\" title=\"Consumer spending falls in Dec., sentiment dips in Jan.\">current economic conditions<\/a>, the Fed\u2019s balance sheet\u2063 is about $5.3 trillion too big. \u2064Powell lacks the will to sell \u2062off that much in assets.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Aug is off\u200c to a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-after-months-of-decline-new-bureau-of-labor-statistics-report-shows\/\" title=\"Inflation surges after months of decline, says new report by Bureau of Labor Statistics.\">great start \u2013 financial conditions loosen<\/a> even further\u2026<br \/>\nIs \u2064it going\u200d to take another banking crisis to get \u2062us to where we \u2062need to be? <a href=\"https:\/\/t.co\/BsbtjplwtB\">pic.twitter.com\/BsbtjplwtB<\/a><\/p>\n<p>\u2014 EJ Antoni (@RealEJAntoni) \u2062 <a href=\"https:\/\/twitter.com\/RealEJAntoni\/status\/1689331141050814464?\">August 9, 2023<\/a><\/p>\n<\/blockquote>\n<p>The U.S.\u2064 added 187,000 <a href=\"https:\/\/www.westernjournal.com\/biden-admin-drops-update-jobs-numbers-reflects-lowest-statistic-since-2020\/\" target=\"_blank\" rel=\"noopener\">jobs<\/a> for the month of \u200dJuly, \u200c13,000 fewer \u200cthan\u200c economists expected, and the unemployment rate fell\u200b to 3.5\u2062 percent.<\/p>\n<p>The number of jobs\u200c for the months of June and May was revised down by a cumulative 49,000\u200c jobs.<\/p>\n<p>The U.S. economy\u2063 grew at \u200ca rate of 2.4 percent in the second quarter of 2023, surprising economists who anticipated a more modest expansion \u2063of 2 percent.<\/p>\n<div class=\"disclaimer\">\n<p><em>All content \u2062created by the Daily Caller News Foundation, \u2063an independent and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-ceo-out-after-closing-prominent-conservatives-account-and-then-lying-about-it\/\" title=\"Bank CEO Fired for Closing Prominent Conservative's Account and Deceiving Public\">nonpartisan newswire \u2063service<\/a>, \u2064is available without charge to any <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/experts-warn-it-could-take-decades-to-refill-strategic-reserve-drained-by-biden\/\" title=\"Experts caution that it may take several decades to replenish the strategic reserve, which has been depleted under President Biden's administration.\">legitimate news \u2062publisher<\/a> \u2063that can provide a large\u200b audience. All republished \u2062articles must \u200dinclude\u200c our logo, our reporter\u2019s \u2064byline\u200c and their DCNF affiliation.\u2064 <\/em><\/p>\n<p><em>For any questions about our \u200dguidelines or partnering with us, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/em><\/p>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/inflation-rises-months-decline-new-bureau-labor-statistics-report-shows\/\">Inflation Rises After Months of \u200bDecline, New Bureau of Labor Statistics Report\u2063 Shows<\/a> appeared first \u200bon <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation increased in July, reversing a steady decline since June 2022. The latest release from the Bureau of Labor Statistics revealed that the Consumer Price Index, which measures everyday goods&#8217; prices, rose by 3.2 percent annually in July, compared to 3.0 percent.<\/p>\n","protected":false},"author":2181,"featured_media":1996618,"comment_status":"open","ping_status":"closed","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":[548],"tags":[],"class_list":["post-1996617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"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\/1996617","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\/2181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1996617"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1996617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1996618"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1996617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1996617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1996617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}