{"id":2030604,"date":"2023-09-13T13:52:01","date_gmt":"2023-09-13T17:52:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-surges-above-expectations-in-new-bureau-of-labor-statistics-report\/"},"modified":"2023-09-13T13:53:39","modified_gmt":"2023-09-13T17:53:39","slug":"inflation-surges-above-expectations-in-new-bureau-of-labor-statistics-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-surges-above-expectations-in-new-bureau-of-labor-statistics-report\/","title":{"rendered":"Inflation exceeds expectations in latest Labor Statistics report."},"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%2Finflation-surges-above-expectations-in-new-bureau-of-labor-statistics-report%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=2030604&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\u200b Surges Above Expectations\u200d in New Bureau of Labor Statistics Report<\/h2>\n<p>Inflation \u2064rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics release on Wednesday.<\/p>\n<p>The <strong>Consumer Price Index<\/strong>, a broad measure of the\u2063 prices of everyday goods, increased <strong>3.7%<\/strong> on an annual basis in August, compared to 3.2% in July, according to the BLS.<\/p>\n<p><strong>Core CPI<\/strong>, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to\u2064 4.7% in July.<\/p>\n<p>\u201cThis will be \u2062the \u2063second acceleration\u200b in a row, showing that inflation is anything but dead,\u201d E.J. Antoni, a research fellow at the Heritage Foundation\u2019s Grover M. Hermann Center \u200dfor the Federal \u200cBudget, told the\u200b Daily Caller News Foundation. \u2062\u201cAlthough we\u2019ve been told that inflation has been trending back\u2064 towards 2%, that\u2019s false.<\/p>\n<p>\u201cIf anything, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-surges-above-expectations-in-new-bureau-of-labor-statistics-report\/\" title=\"Inflation exceeds expectations in latest Labor Statistics report.\">annualized monthly data show<\/a> it was\u200d trending towards 3% and is now climbing again,\u201d Antoni\u200d said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Real median \u200dhousehold \u2062income down\u2063 2.3% in 2022; poverty level and rate were \u200bflat Y\/Y; supplemental poverty\u2063 measure jumped 4.6 percentage points: <a href=\"https:\/\/t.co\/e30ns3jrBL\">pic.twitter.com\/e30ns3jrBL<\/a><\/p>\n<p>\u2014 E.J. Antoni,\u200c Ph.D. (@RealEJAntoni) <a href=\"https:\/\/twitter.com\/RealEJAntoni\/status\/1701604656009605287?\">September 12, 2023<\/a><\/p>\n<\/blockquote>\n<p>The <a href=\"https:\/\/www.westernjournal.com\/federal-reserve-experts-predict-us-will-avoid-recession-sowell-said-can-never-trust\/\" target=\"_blank\" rel=\"noopener\">Federal \u200dReserve<\/a>, in an attempt to lower inflation, has raised its \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/despite-skyrocketing-inflation-janet-yellen-will-keep-pushing-for-biden-spending-agenda\/\" title=\"Despite Skyrocketing Inflation, Janet Yellen Will Keep Pushing For Biden Spending Agenda\">federal funds rate<\/a> to the highest point since 2001 after a series of \u200d11 rate hikes, bringing the current rate to a range of 5.25% and 5.50%.<\/p>\n<p>The Fed will <a href=\"https:\/\/www.marketwatch.com\/economy-politics\/calendar\" target=\"_blank\" rel=\"noopener noreferrer\">announce<\/a> on Sept. 20 whether it \u200bwill raise rates again at \u2062the conclusion of its Federal Open Market Committee meeting.<\/p>\n<p>Jerome Powell, chair of the Fed, hinted in \u2064August \u200bat\u200b the Jackson Hole \u200dEconomic Symposium that\u200d the \u200cFed will raise rates if factors like high\u200c inflation, a hot <a href=\"https:\/\/www.westernjournal.com\/unemployment-rate-spikes-new-jobs-report-defying-economists-expectations\/\" target=\"_blank\" rel=\"noopener\">labor market<\/a> and sustained growth continue.<\/p>\n<p>The job market has cooled\u200b in recent months, with August only adding 187,000 new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/colorado-senate-passes-sales-tax-relief-for-small-businesses-with-less-than-100k-in-annual-sales\/\" title=\"Colorado Senate Passes Sales Tax Relief for Small Businesses With Less Than 0k in Annual Sales\">nonfarm payroll jobs<\/a>. The number of jobs added for June\u200d and July were both revised down to reflect further softening, adding 80,000 and 30,000 fewer than was previously reported, respectively.<\/p>\n<p>GDP grew less than previously thought for the second quarter of 2023, with the\u2063 <a href=\"https:\/\/www.westernjournal.com\/numbers-dont-lie-trump-sets-biden-straight-admin-best-economy\/\" target=\"_blank\" rel=\"noopener\">economy<\/a> growing 2.1% instead of the 2.4% that was\u200c originally reported.<\/p>\n<p>\u201cI expect the Fed will continue \u2064with a \u2063combination of pauses and 25-basis-point hikes for several more months, \u200dwhile continuing to slowly run off\u200c the\u2062 balance sheet,\u201d Antoni told the DCNF.<\/p>\n<p>\u201cTo put the inflation of \u200bthe last two and a half years in perspective, roughly all of the household net wealth generated over that time has been confiscated by the government through the hidden tax of inflation.\u201d<\/p>\n<div class=\"disclaimer\">\n<p><em>All content created\u200c by the Daily Caller News Foundation, an independent and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-weighs-in-on-deadly-subway-clash-after-desantis-calls-marine-a-good-samaritan\/\" title=\"Trump Weighs In on Deadly Subway Clash After DeSantis Calls Marine a 'Good Samaritan'\">nonpartisan newswire service<\/a>, is available without charge\u2064 to any <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/union-membership-plummets-to-record-low\/\" title=\"Union Membership Plummets to Record Low\">legitimate news publisher<\/a> that can provide a large audience.\u2063 All\u2063 republished articles must include our logo, our reporter\u2019s byline and their DCNF \u200baffiliation.<\/em><\/p>\n<p><em>For any questions about our guidelines\u2062 or partnering \u200dwith us, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/em><\/p>\n<\/div>\n<p>The \u200cpost\u2062 <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/inflation-surges-expectations-new-bureau-labor-statistics-report\/\">Inflation Surges \u200cAbove Expectations in New Bureau\u2062 of Labor Statistics \u200cReport<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest Bureau of Labor Statistics release on Wednesday revealed that inflation surged in August, marking the second consecutive month of increase. The Consumer Price Index, a comprehensive gauge of everyday goods&#8217; prices, rose by 3.7% annually in August, compared to 3.2% in July.<\/p>\n","protected":false},"author":2181,"featured_media":2030605,"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-2030604","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\/2030604","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=2030604"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2030604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2030605"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2030604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2030604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2030604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}