Americans are still paying higher prices for basic day-to-day items and services than they have in the previous four years, in contrast to the corporate media’s desperate attempt to portray the June 2024 Consumer Price Index report as a sign that inflation” cooled” and will continue to” cool” and” slow” as the nation gets closer to the election’s election.
Press shops and the Democratic government rushed to declare that the latest prices score, released by the U.S. Bureau of Labor Statistics, was the first to show a 0.1 percent decline in prices between May 2024 and June 2024, was evidence that inflation is “at its lowest levels in more than three years.”
Paul Krugman, a partisan commentator for The New York Times on American families ‘ financial straits, claimed the CPI’s report means the nation’s record high prices are “plummeting.” Krugman is a political commentator. The most recent month-over-month statistics, according to CNN, is” Good news for US customers” because it indicates prices “fell for the first time since the first part of the pandemic.”
The 0.1 percentage increases may be the first month-over-month bad recorded since 2020, but the advertising media and the Biden administration’s event of it is misleading.
While prices from May 2024 to June 2024 technically fell for goods and services like gasoline (-3.8 percent ), electricity (-0.7 percent ), and new and used vehicles (-0.2 percent and -1.5 percent ), Americans are still paying more than ever for basic necessities like food, which saw a 0.2 percent increase.
The fact that prices increased by 3 percent between June 2023 and June 2024 was quickly omitted from headlines and media releases. Compared to June last year, fundamental items such as food ( 2.2 percent ), electricity ( 4.4 percent ), shelter ( 5.2 percent ), transportation ( 9.4 percent ), and medical services ( 3.3 percent ) experienced measurable price jumps that will no doubt continue to affect voters ‘ pockets.
It’s not surprising that the media handled CPI data for the x-th month of mishandling it to defend what remains of the shaky Biden White House’s status.
Financial “experts” and the corporate media have done anything to chastise Americans and American businesses for prices that can be directly attributable to Democrats and their policies since President Joe Biden took business. When polls revealed that Americans are becoming more skeptical about the U.S. economy, those same outlets wondered how they could be so unusually along on a good economy.
The numbers, however, do n’t lie. In November 2024, inflation is still a hot topic for citizens and will likely play a significant role in how they choose to vote.
The Federalist team author and host of The Federalist Radio Hour, Jordan Boyd. Her function has also been featured in The Daily Wire, Fox News, and RealClearPolitics. Jordan graduated from Baylor University with a political science major and a news minor. Following her on X @jordanboydtx.
