{"id":2324420,"date":"2024-08-14T13:19:00","date_gmt":"2024-08-14T17:19:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-claim-inflation-slowing-even-though-prices-skyrocketing\/"},"modified":"2024-08-14T13:21:46","modified_gmt":"2024-08-14T17:21:46","slug":"media-claim-inflation-slowing-even-though-prices-skyrocketing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-claim-inflation-slowing-even-though-prices-skyrocketing\/","title":{"rendered":"Media Claim Inflation \u2018Slowing\u2019 Even Though Prices Skyrocketing"},"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\">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%2Fmedia-claim-inflation-slowing-even-though-prices-skyrocketing%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=2324420&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>In July 2024, \u200binflation continued \u2064to rise for the 42nd consecutive \u200cmonth since \u2064President\u200b Joe Biden and Vice President \u200dKamala Harris took office, with a reported\u2062 2.9 percent increase impacting consumer prices.\u200d Despite\u2062 this persistent inflation, mainstream media outlets \u200bframed\u2062 these figures as a positive development, \u2063highlighting that the \u2062Consumer \u2062Price Index fell \u200dbelow 3% for the \u200bfirst \u2063time in over three years. Reports from CNN\u2063 and MSNBC celebrated the perceived slowdown in inflation, while\u200c The New York Times suggested that Democrats were feeling optimistic about the economy. However, the data reveals significant price \u200dincreases in \u2064essential goods and services compared \u2063to the previous \u2062year, including notable hikes\u2063 in food, electricity,\u200b and \u200dtransportation costs. <\/p>\n<p>Public sentiment remains negative, with inflation\u200c consistently viewed as \u200cthe top concern among voters in the\u200d run-up to the 2024 elections. Many \u2062Americans express frustration about the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-takes-new-action-on-junk-fees-food-prices-and-corporate-mergers\/\" title=\"Biden acts on junk fees, food costs, and corporate mergers.\">financial strain caused<\/a> by \u200crising prices, \u200cwith some attributing their plight to\u200b government policies. As household \u2064debt reaches an all-time \u2062high\u2063 and a substantial percentage of \u2064adults lack savings, the narrative\u200d presented\u200b by the media starkly\u2063 contrasts with \u200dthe everyday financial struggles faced by the average American. The article emphasizes \u200dthat while officials may claim victory \u2062against inflation, the reality\u2063 for many\u2062 is far more challenging, as\u2062 they grapple \u200dwith\u200c sustained increases in living costs.  <\/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<p>Inflation rose again in July 2024 for the 42nd consecutive month since President Joe Biden and Vice President Kamala Harris took office in January 2021. Yet, corporate media demand that Americans celebrate the <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" target=\"_blank\" rel=\"noreferrer noopener\">2.9 percent price hike<\/a> plaguing their pocketbooks as an &ldquo;inflation milestone.&rdquo;<\/p>\n<p>According to the U.S. Bureau of Labor Statistics&rsquo; <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-every-senator-thinks-minimum-wage-should-be-increased\/\" title=\"Manchin: Every Senator Thinks Minimum Wage Should Be Increased\">consumer price index<\/a> for last month, Americans paid 2.2 percent more for food, 4.9 percent more for electricity, 5.1 percent more for shelter, 8.8 percent more for transportation, and 3.3 percent more for medical care than they did in July 2023. Even compared to May 2024, July&rsquo;s inflation showed a 0.1 to 0.9 range of price hikes across most basic goods and services. <\/p>\n<p>Outlets like CNN, however, used the data to claim that inflation &ldquo;slowed more than expected.&rdquo;<\/p>\n<figure>\n<p><span><\/p>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Consumer Price Index slowed more than expected in July, falling below 3% for the first time in over three years <a href=\"https:\/\/t.co\/6hYyDgRtg7\">https:\/\/t.co\/6hYyDgRtg7<\/a><\/p>\n<p>&mdash; CNN (@CNN) <a href=\"https:\/\/twitter.com\/CNN\/status\/1823716984216785362?ref_src=twsrc%5Etfw\">August 14, 2024<\/a><\/p><\/blockquote>\n<p><\/span> <\/p>\n<\/figure>\n<p>MSNBC marveled that inflation &ldquo;falls below 3 percent for the first time since 2021.&rdquo;<\/p>\n<figure><\/figure>\n<p>The New York Times took it even further when the publication claimed that <a href=\"https:\/\/www.nytimes.com\/2024\/08\/14\/business\/inflation-biden-harris-democrats.html\" target=\"_blank\" rel=\"noreferrer noopener\">&ldquo;Easing Inflation Has Democrats Tasting Victory.&rdquo;<\/a> The article quoted former deputy director of the National Economic Council Bharat Ramamurti, who triumphantly <a href=\"https:\/\/x.com\/BharatRamamurti\/status\/1823702155397611880\" target=\"_blank\" rel=\"noreferrer noopener\">declared<\/a>, &ldquo;We&rsquo;ve won the battle against inflation.&rdquo;<\/p>\n<p>The positive percent change on each CPI report dating back to <a href=\"https:\/\/cpiinflationcalculator.com\/2018-cpi-and-inflation-rate-for-the-united-states\/\" target=\"_blank\" rel=\"noreferrer noopener\">February 2018<\/a>, however, indicates that Americans are experiencing skyrocketing costs more than they were this time last month, last year, or even during the Trump presidency.  <\/p>\n<p>The media&rsquo;s optimistic portrayal of the dismal inflation statistics strongly contradicts Americans&rsquo; feelings about the nation&rsquo;s financial standing. Polls indicate that inflation is and has been <a href=\"https:\/\/news.gallup.com\/poll\/644690\/americans-continue-name-inflation-top-financial-problem.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">voters&rsquo; top concern<\/a> for the duration of the 2024 election cycle. In fact, many of them hold <a href=\"https:\/\/www.pewresearch.org\/politics\/2024\/05\/23\/views-of-the-nations-economy-may-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">largely negative views<\/a> about the state and direction of the U.S. economy simply because of the toll inflation has taken on their bank accounts and livelihoods.<\/p>\n<figure>\n<p><span><\/p>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>A black Philadelphia woman gets emotional describing how inflation is &#8220;killing us without killing us.&#8221; <\/p>\n<p>&#8220;I blame the federal government at this point.<\/p>\n<p>&#8220;They&#8217;re killing us without killing us. If you understand that. They&#8217;re killing us without telling us they&#8217;re killing us.&hellip; <a href=\"https:\/\/t.co\/PJ5FVJNsv1\">pic.twitter.com\/PJ5FVJNsv1<\/a><\/p>\n<\/div>\n<p>&mdash; Charlie Kirk (@charliekirk11) <a href=\"https:\/\/twitter.com\/charliekirk11\/status\/1823395526693491168?ref_src=twsrc%5Etfw\">August 13, 2024<\/a><\/p><\/blockquote>\n<p><\/span> <\/p>\n<\/figure>\n<p>Prices are so high that not even Harris, despite her best Axios-aided <a href=\"https:\/\/x.com\/MZHemingway\/status\/1823708297398300746\" target=\"_blank\" rel=\"noreferrer noopener\">propaganda efforts<\/a>, can successfully <a href=\"https:\/\/www.axios.com\/2024\/08\/14\/kamala-harris-economy-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">&ldquo;distance herself&rdquo;<\/a> from the administration&rsquo;s role in record-breaking inflation. Basic goods and services <a href=\"https:\/\/finance.yahoo.com\/news\/bidens-big-inflation-problem-prices-are-now-up-nearly-20-since-he-took-office-080049551.html\" target=\"_blank\" rel=\"noreferrer noopener\">cost at least 20 percent more now<\/a> than they did when Biden and Harris first entered the White House.<\/p>\n<p>Four years of financial turmoil exacerbated by Democrats&rsquo; <a href=\"https:\/\/thefederalist.com\/2024\/08\/07\/kamala-harris-lied-about-inflation-sold-reckless-spending-sprees-as-free\/\" target=\"_blank\" rel=\"noreferrer noopener\">Harris-endorsed excessive spending<\/a> has wrecked Americans&rsquo; monetary standing. As of November 2023, Americans needed an extra <a href=\"https:\/\/www.cbsnews.com\/news\/inflation-households-need-extra-11400-these-states-its-even-higher\/\" target=\"_blank\" rel=\"noreferrer noopener\">$11,434 annually<\/a> to keep their standard of living from the beginning of 2021. Since inflation has done nothing but climb since then, there&rsquo;s no doubt that estimate has only grown<\/p>\n<p>U.S. household debt is at an all-time high of $17.69 trillion, and at least<a href=\"https:\/\/www.bankrate.com\/banking\/savings\/emergency-savings-report\/#:~:text=27%25%20of%20U.S.%20adults%20have,the%20highest%20percentage%20since%202020.\" target=\"_blank\" rel=\"noreferrer noopener\"> 27 percent of adults have no savings<\/a>. Adults who do not have the cash to cover ever-increasing expenses often rely on credit cards. Yet, at least <a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/hhdc\" target=\"_blank\" rel=\"noreferrer noopener\">one in 10 credit card holders<\/a> and one in 12 automobile loan recipients let their payments slip in the second fiscal quarter of 2024.<\/p>\n<p>Democrats, their new presidential nominee Harris, and their allies in the media will continue to&nbsp;pretend that inflation is no longer a problem. The <a href=\"https:\/\/thefederalist.com\/2023\/12\/07\/yes-inflation-is-sort-of-your-fault\/\" target=\"_blank\" rel=\"noreferrer noopener\">Americans<\/a> and <a href=\"https:\/\/thefederalist.com\/2024\/02\/07\/washington-post-blames-grocery-stores-for-high-prices-to-cover-for-bidenflation-in-election-year\/\" target=\"_blank\" rel=\"noreferrer noopener\">American companies<\/a> who are routinely blamed for the financial phenomenon draining their wallets should not forget, however, that their financial woes can be <a href=\"https:\/\/waysandmeans.house.gov\/poll-even-dems-blame-biden-for-soaring-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">directly<\/a>&nbsp;traced to the blue party and&nbsp;<a href=\"https:\/\/thefederalist.com\/2024\/01\/11\/media-downplay-yet-another-inflation-hike-to-cover-democrats-economic-incompetence\/\" target=\"_blank\" rel=\"noreferrer noopener\">their policies<\/a>.&nbsp;<\/p>\n<figure>\n<p><span><\/p>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Democrats pass sweeping Inflation Reduction Act, 51-50, to fight climate change, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-travel-lid-for-wednesday-an-hour-after-bobulinski-interview-airs\/\" title=\"Biden Calls Travel Lid for Wednesday an Hour After Bobulinski Interview Airs\">lower health care costs<\/a>, and raise corporate taxes. Vice President Kamala Harris cast the tie breaking vote. <a href=\"https:\/\/t.co\/KmoXnzbeUd\">pic.twitter.com\/KmoXnzbeUd<\/a><\/p>\n<p>&mdash; Keith Boykin (@keithboykin) <a href=\"https:\/\/twitter.com\/keithboykin\/status\/1556360837287202816?ref_src=twsrc%5Etfw\">August 7, 2022<\/a><\/p><\/blockquote>\n<p><\/span> <\/p>\n<\/figure>\n<hr>\n<p>      Jordan Boyd is a staff writer at The Federalist and producer of The Federalist Radio Hour. Her work has also been featured in The Daily Wire, Fox News, and RealClearPolitics. Jordan graduated from Baylor University where she majored in political science and minored in journalism. Follow her on X @jordanboydtx.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation increased once more in July 2024, marking the 42nd consecutive month since President Joe Biden and Vice President Kamala Harris assumed office in January 2021. Despite this, mainstream media is urging Americans to view the 2.9 percent rise in prices as an &#8220;inflation milestone.&#8221; The U.S. Bureau of Labor Statistics reported that last month, Americans faced a 2.2 percent increase in food prices, a 4.9 percent rise in electricity costs, a 5.1 percent hike for shelter, an 8.8 percent jump in transportation expenses, and a 3.3 percent increase for medical care compared to July 2023. When compared to May 2024, inflation rates showed price increases ranging from 0.1 to 0.9 across most essential goods and services.<\/p>\n<p>However, outlets like CNN claimed that inflation &#8220;slowed more than expected,&#8221; noting that the Consumer Price Index dropped below three percent for the first time in over three years on August 14, according to their report.<\/p>\n<p>MSNBC expressed amazement at inflation falling below three percent for the first time since early 2021 while The New York Times suggested that &#8220;Easing Inflation Has Democrats Tasting Victory,&#8221; quoting Bharat Ramamurti from the National Economic Council who proclaimed victory over inflation.<\/p>\n<p>Despite these optimistic media narratives about easing inflation statistics, many Americans feel differently about their financial situation; polls show that inflation remains voters&#8217; primary concern during the ongoing election cycle of 2024. Many citizens express negative sentiments regarding both the current state and future direction of the U.S economy due largely to how rising prices have impacted their finances.<\/p>\n<p>A Philadelphia woman emotionally described how inflation is \u201ckilling us without killing us,\u201d attributing blame to federal government actions: \u201cThey\u2019re killing us without telling us they\u2019re killing us.\u201d<\/p>\n<p>Prices have surged so much that even Vice President Harris struggles to distance herself from her administration&#8217;s role in unprecedented inflation levels; basic necessities now cost at least twenty percent more than when Biden and Harris took office.<\/p>\n<p>Four years of economic challenges intensified by excessive spending endorsed by Democrats have severely affected American financial stability\u2014by November of this year alone; it was estimated that individuals needed an additional $11,434 annually just to maintain their standard of living since early January of last year\u2014a figure likely increased given ongoing rising costs.<\/p>\n<p>U.S household debt has reached a record high of $17.69 trillion with at least twenty-seven percent of adults lacking savings; those unable to meet escalating expenses often resorted to credit cards\u2014yet one out of ten credit card holders and one out twelve auto loan borrowers fell behind on payments during Q2 fiscal reports for this year.<\/p>\n<p>Democrats along with their new presidential nominee Harris will likely continue downplaying concerns surrounding inflation while blaming American consumers and businesses for financial struggles stemming directly from policies enacted by their party<\/p>\n","protected":false},"author":490,"featured_media":2324421,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/08\/pexels-towfiqu-barbhuiya-3440682-11412587.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[8017,37423,5708,4188,4590],"class_list":["post-2324420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-cost-of-living","tag-economic-trends","tag-inflation","tag-media","tag-prices"],"fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/08\/pexels-towfiqu-barbhuiya-3440682-11412587.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2324420","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\/490"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2324420"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2324420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2324421"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2324420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2324420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2324420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}