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Melina Mara/The Washington Post/Getty Images After months of various Democrats insisting inflation has peaked, House Speaker Nancy Pelosi (D-CA) said that Wednesday’s Consumer Price Index, which skyrocketed to 9.1 percent in June, was probably the real peak.
Pelosi told reporters on Wednesday, “I think we’re peaking. I think we’re going to be going down from here.”
The June CPI numbers recorded an annual rate of 9.1 percent , which was higher than the 8.8 percent expected by analysts. Americans have been hit by the rising prices of everyday necessities like food, gasoline, housing, transportation, and utilities.
Breitbart News reported that for the year, house cleaning and other domestic services are up 5.1 percent, groceries are up 10.4 percent, electricity is up 13.7 percent, and household cleaning products are up 11.3 percent.
Additionally, the country saw a considerable increase in gasoline prices in June, which hit new all-time highs several times last month and even averaged above $5 a gallon for the first time, which has also helped zap the saving of American businesses and families.
The Wall Street Journal’s Chief Economics Commentator, Greg Ip, also pointed out that there have been many claims that “Inflation has peaked,” predicated on the assumption that the Fed […]
Read the whole story at www.breitbart.com
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Inflation is caused by inflating the money supply. Period. All else is a lie.