{"id":633243,"date":"2021-08-11T11:51:53","date_gmt":"2021-08-11T15:51:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=633243"},"modified":"2021-08-11T11:51:54","modified_gmt":"2021-08-11T15:51:54","slug":"july-inflation-remains-at-last-months-record-high-levels","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/july-inflation-remains-at-last-months-record-high-levels\/","title":{"rendered":"July Inflation Remains At Last Month\u2019s Record-High Levels"},"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%2Fjuly-inflation-remains-at-last-months-record-high-levels%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=633243&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1234015046-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>The inflation rate in July remained at 5.4% \u2014 matching the previous month\u2019s levels.<\/span><\/p>\n<p><span>According to data released by the <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\"><span>Bureau of Labor Statistics<\/span><\/a><span> on Wednesday morning, year-over-year inflation last month reached 5.4% \u2014 equaling its June rate, which was the highest since the Great Recession.<\/span><\/p>\n<p><span>The agency says:<\/span><\/p>\n<p><i><span>The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in July on a seasonally adjusted basis after rising 0.9 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.4 percent before seasonal adjustment.<\/span><\/i><\/p>\n<p><i><span>The indexes for shelter, food, energy, and new vehicles all increased in July and contributed to the monthly all items seasonally adjusted increase. The food index increased 0.7 percent in July as five of the major grocery store food group indexes rose, and the food away from home index increased 0.8 percent. The energy index rose 1.6 percent in July, as the gasoline index increased 2.4 percent and other energy component indexes also rose.<\/span><\/i><\/p>\n<p><span>Over the past year, average energy costs have risen by 23.8%, with gasoline and fuel oil seeing price hikes of 41.8% and 39.1% respectively. Meanwhile, prices for used vehicles have risen by 41.7%.<\/span><\/p>\n<p><span>\u201cI\u2019m over here laughing at everyone for investing in stocks and Bitcoin,\u201d <\/span><a href=\"https:\/\/twitter.com\/JDVance1\/status\/1425445921203138561\"><span>quipped<\/span><\/a><span> Senate candidate J.D. Vance. \u201cI bought a 1999 Honda Civic last year and now it\u2019s worth $2 million.\u201d<\/span><\/p>\n<p><span>Beyond the energy and transportation sectors, food companies are increasing prices in an attempt to match rising price levels.<\/span><\/p>\n<p><span>In Tyson Foods\u2019 third-quarter earnings call, CEO Donnie King <\/span><a href=\"https:\/\/www.dailywire.com\/news\/tyson-raises-meat-and-poultry-prices-as-inflation-continues\"><span>told<\/span><\/a><span> investors that the firm has \u201cseen accelerating and unprecedented inflation\u201d threatening all of its business units. It will therefore raise retail prices on September 5 \u2014 even though it previously raised prices for restaurant customers.<\/span><\/p>\n<p><span>Nestl\u00e9 \u2014 the world\u2019s largest food and beverage company \u2014 <\/span><a href=\"https:\/\/www.dailywire.com\/news\/worlds-largest-food-company-will-raise-prices-amid-inflation\"><span>unveiled<\/span><\/a><span> that it will also raise prices to keep pace with inflation. CEO Mark Schneider explained to journalists that \u201cwhat we\u2019ve seen this year is some kind of a turning point, where after several years of low inflation, all of a sudden it accelerated very strongly.\u201d<\/span><\/p>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/thanks-to-inflation-american-wages-drop-by-nearly-2\"><span>The Daily Wire<\/span><\/a><span> recently explained, American workers are seeing declines in real wages as a result of inflation \u2014 despite robust wage growth following COVID-19 and the lockdown-induced recession.<\/span><\/p>\n<p><span>The Bureau of Labor Statistics reported last month that \u201caverage hourly earnings\u201d in the United States rose by 3.6% between June 2020 and June 2021. Nevertheless, when considering year-over-year changes in the Consumer Price Index, \u201creal average hourly earnings\u201d have diminished by 1.7% over the past year.<\/span><\/p>\n<p><span>Vance <\/span><a href=\"https:\/\/twitter.com\/JDVance1\/status\/1425446578752532480\"><span>added<\/span><\/a><span> that \u201cthe Trump years saw the first sustained wage growth for the middle and working class in a long time.\u201d Inflation, however, \u201cwill destroy that progress.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The inflation rate in July remained at 5.4% \u2014 matching the previous month\u2019s levels.According to data released by the Bureau of Labor Statistics on Wednesday morning, year-over-year inflation last month &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-633243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/633243","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=633243"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/633243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=633243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=633243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=633243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}