{"id":2217400,"date":"2024-04-10T12:52:02","date_gmt":"2024-04-10T16:52:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-jumps-in-latest-bad-economic-report-for-biden\/"},"modified":"2024-04-10T12:53:37","modified_gmt":"2024-04-10T16:53:37","slug":"inflation-jumps-in-latest-bad-economic-report-for-biden","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-jumps-in-latest-bad-economic-report-for-biden\/","title":{"rendered":"Surge in Inflation Marks Latest Economic Challenge for Biden"},"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\">18<\/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-jumps-in-latest-bad-economic-report-for-biden%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=2217400&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--><p>The latest Bureau \u2064of Labor\u200d Statistics report indicates a faster-than-expected rise in\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reports-bidens-policies-to-produce-massive-inflation\/\" title=\"Reports: Biden\u2019s policies to produce massive inflation\">consumer prices<\/a>, presenting challenges for President Joe Biden&#8217;s reelection campaign\u200c against Donald Trump. The Consumer\u200c Price Index increased by 0.4% from the previous month and 3.5% annually. This data suggests economic implications that could impact the upcoming\u2063 election. To access the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/latest-poll-majority-of-americans-want-republican-party-to-control-the-senate-sean-hannity\/\" title=\"LATEST POLL: Majority of Americans Want Republican Party to Control the Senate | Sean Hannity\">full report<\/a>, click [here](https:\/\/www.bls.gov\/news.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-prices-outpace-americans-wage-growth-as-inflation-surges\/\" title=\"Consumer Prices Outpace Americans\u2019 Wage Growth As Inflation Surges\">release\/pdf\/cpi<\/a>.pdf).  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<figure><figcaption> \t\t\t\t \t\t\t\t(Getty Images)\t\t\t<\/figcaption><\/figure>\n<\/p><\/div>\n<div>\n<p><span>The latest Bureau of Labor Statistics report shows consumer prices again rose faster than expected, spelling trouble for President Joe Biden as he makes his case for reelection in his race against Republican nominee Donald Trump.<\/span><\/p>\n<p><span>The Consumer Price Index in March rose 0.4 percent over the previous month and 3.5 percent over the prior year, according to a BLS <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\"><span>report<\/span><\/a><span>  published Wednesday morning. Economists had forecasted a monthly increase of 0.3 percent and an annual increase of 3.4 percent, Bloomberg <\/span><a href=\"https:\/\/finance.yahoo.com\/news\/inflation-comes-in-hotter-than-expected-in-march-123324666.html?guccounter=1\"><span>reported<\/span><\/a><span>.<\/span><\/p>\n<p><span>The &#8220;core&#8221; CPI, which excludes food and gas costs, increased by 0.4 percent month-over-month and 3.8 percent year-over-year, also surpassing economists\u2019 projections of a 0.3 percent monthly and a 3.7 percent yearly rise.<\/span><\/p>\n<p><span>&#8220;Today\u2019s crucial CPI print has likely sealed the fate for the June [Federal Open Market Committee] meeting with a cut [in interest rates] now very unlikely,&#8221; Seema Shah, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-surges-to-7-percent\/\" title=\"Inflation Surges to 7 Percent\">chief global strategist<\/a> at Principal Asset Management, told Bloomberg. <\/span><\/p>\n<p><span>&#8220;This marks the third consecutive strong reading and means that the stalled disinflationary narrative can no longer be called a blip,&#8221; Shah added. &#8220;In fact, even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making,&#8221; <\/span>\t<\/p>\n<p><span>The Wednesday report adds to a string of unfavorable economic reports for Biden in recent months, further jeopardizing his reelection campaign against Trump as economic issues have been at the top of voters&#8217; concerns in polls. <\/span><\/p>\n<p><span>The BLS had reported higher-than-expected CPI for three consecutive months\u2014in <\/span><a href=\"https:\/\/freebeacon.com\/latest-news\/labor-report-shows-inflation-isnt-going-away\/\"><span>February<\/span><\/a><span>, <\/span><a href=\"https:\/\/finance.yahoo.com\/news\/inflation-consumer-prices-rise-31-in-january-defying-forecasts-for-a-faster-slowdown-133334607.html\"><span>January<\/span><\/a><span>, and <\/span><a href=\"https:\/\/freebeacon.com\/latest-news\/inflation-spikes-in-latest-economic-report\/\"><span>December<\/span><\/a><span>. <\/span><span>Another BLS report <\/span><a href=\"https:\/\/freebeacon.com\/latest-news\/wholesale-inflation-surges-at-double-expected-rate\/\"><span>showed<\/span><\/a><span>  the Producer Price Index, which tracks the cost of materials that producers and manufacturers purchase from suppliers, rose by 0.6 percent in February, double the expected 0.3 percent that Dow Jones had forecasted. <\/span><\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the recent Bureau of Labor Statistics report, consumer prices surged beyond expectations, posing challenges for President Joe Biden&#8217;s reelection campaign. The Consumer Price Index climbed by 0.4 percent in March compared to the previous month and by 3.5 percent year-over-year. This trend could impact Biden&#8217;s pursuit for a second term against Republican nominee Donald Trump<\/p>\n","protected":false},"author":2807,"featured_media":2217401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/03\/biden-illegal.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2217400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/03\/biden-illegal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2217400","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\/2807"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2217400"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2217400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2217401"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2217400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2217400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2217400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}