Tag: inflation

Arizona Inflation Reaches Lowest Rate in Two Years, Driven by ‘Housing Market Paralysis’

The Center Square
Sale Pending Home

October brought Arizona’s lowest inflation rate in years with the Phoenix metro area inflation rate being 1.56% year-over-year – a decrease from 2.27% in August – according to the Common Sense Institute.

“This latest reading ends the over 2-year streak of inflation above the standard target of 2.0% annually,” reads the CSI report. “Historically, the Phoenix Metropolitan Statistical Area has experienced significant inflationary pressures, notably in June 2022, when inflation in Phoenix peaked at a record high of 13%, well above the national rate of 9.1%. This trend made Phoenix one of the fastest-inflating areas in the U.S.”

Read the full story

Inflation Ticks Up Despite Slowdown in Jobs Market

Daily Caller News Foundation
Inflation

Inflation rose slightly in October despite a massive slowdown in job growth in the same month, according to a Bureau of Labor Statistics (BLS) report released Wednesday.

The consumer price index (CPI), a measure of the price of everyday goods, increased 0.2% on an annual basis in October and rose 2.6% month-over-month, compared to 2.4% in September, and in line with expectations, according to the BLS. Core CPI rose 3.3% year-over-year in October, the same rate as in September.

Read the full story

Trump Teases Plan to ‘Cut Waste, Stop Inflation, and Crush the Deep State’

Kaitlin Housler
Donald Trump

President-elect Donald Trump said he would restore the executive branch impoundment authority to “cut waste, stop inflation, and crush the Deep State” during his second term.

In a video posted by his presidential campaign in June 2023, Trump explained that, if elected, he would “use the president’s long-recognized Impoundment Power to squeeze the bloated federal bureaucracy for massive savings.”

Read the full story

Trump Open to Reparations Fund for Victims of Crimes Committed by Illegals

Just the News
Trump on Phone

Gaining momentum two weeks from Election Day, Donald Trump is laser focused on voters’ top priority of making America safe and affordable again. But after spending hours comforting families victimized by murder, rape and other border crimes, the former president told Just the News he also is open to creating a federal compensation fund for Americans harmed by illegal immigrants let into the country under President Joe Biden and Vice President Kamala Harris.

The idea of a border crimes reparations fund like the one created for the victims of the Sept. 11, 2001 terror attacks has been floating around conservative circles for months, including in Congress where Rep. Virginia Foxx, R-N.C., even introduced the concept before it stalled.

Read the full story

Commentary: Democrats’ Economic Elitism

Admin
Grocery Shopping

Democrats’ display their elitism by using macroeconomic numbers to ignore America’s microeconomic concerns. By promoting the macro-economy, Democrats produced the numbers they now campaign on. However, their macro numbers have come with high inflation that has wreaked havoc on the micro-economies in which most Americans live.

Democrats’ embrace of the macro economy is unmistakable.  Paul Krugman’s recent column (10/8) trumpeted that the “macro” numbers “vindicate Bidenomics.” During CBS’s Sunday (10/6) 60 Minutes interview, Kamala Harris immediately ducked into the macro economy when asked about inflation’s impact on Americans.

Read the full story

Report: Arizona Households Paying Nearly $10K More a Year Due to Inflation

The Center Square
Family Broker

The Common Sense Institute’s “Inflation Misery Index” said that inflation continues to have a stinging impact on Arizonans’ wallets.

According to the report, Arizonans spend $9,996 more each year compared to 2019. When adjusted for the usually expected 2% inflation yearly, it’s still a $6,276 difference. The report adds that 24% of the average Grand Canyon State’s household income was eaten up by inflation, or roughly $25,000.

Read the full story

Inflation Ticks Down Less than Expected as Fears of Hot Economy Grow

Daily Caller News Foundation
Couple Shopping

Inflation fell slightly in September amid fears of a hotter-than-expected economy following strong job gains in the month prior, according to the latest Bureau of Labor Statistics (BLS) release Thursday.

The consumer price index (CPI), a broad measure of the price of everyday goods, increased 2.4% on an annual basis in September and rose 0.2% month-over-month, compared to 2.5% in August, less than the 2.3% rate that was expected, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, rose 3.3% year-over-year in September, compared to 3.2% in August.

Read the full story

Kari Lake Blasts ‘Extreme Makeover Version’ of Ruben Gallego During Their Only Senate Debate

Rachel Alexander
Arizona Senate Debate

Kari Lake and Ruben Gallego participated in their only U.S. Senate debate Wednesday evening, hosted by the Arizona Citizens Clean Elections Commission. Lake hit the issue of border security repeatedly, referencing Gallego’s “dumb stupid border wall” comment, while Gallego, who referred to “illegals” when discussing the border, tried to pick apart previous statements she’d made based on technicalities.

Gallego provided his opening statement first. He criticized Lake for saying she is the authentic governor since there was fraud in the 2022 election, and complained about election officials receiving threats. However, Lake herself and many election integrity investigators regularly receive death threats, but these threats are not reported in the media.

Read the full story

Inflation Remains Top Concern for Most Pennsylvania Voters as Poll Shows Trump Leads Harris on Issue

Tom Pappert
Family Grocery Shopping

Polling released on Tuesday found nearly all Pennsylvanians are lowering their standard of living due to the inflation and higher prices that have characterized the Biden-Harris administration.

The data was released on the heels of a national survey that found the majority of Americans trust former President Donald Trump more than Vice President Kamala Harris on every economic issue, including the cost of living.

Read the full story

Commentary: Americans Support Trump on the Election’s Two Most Important Issues

Admin
Donald Trump at Rally

As the nation reels from a second cowardly attack on former President Donald Trump’s life, it is increasingly clear the radical left refuses to tone down their hateful rhetoric against Trump even if it threatens his life repeatedly. The American people, however, want to put Trump back in charge of the two most pivotal issues facing the country – the economy and immigration.

Just five days after the contentious debate between former President Trump and Vice President Kamala Harris blatantly exposed the mainstream media’s allegiance to the radical left, Trump fended off yet another attack on his life. On Sunday Trump was on what should have been a secure West Palm Beach golf course, only to be threatened once again by a radical extremist with a weapon.

Read the full story

Inflation Rate Inches Down as Economy Continues to Slow

Daily Caller News Foundation
Grocery Shopping

Inflation fell in August amid fears of an economic slowdown following two straight months of disappointing job gains, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The consumer price index (CPI), a broad measure of the price of everyday goods, increased 2.5% on an annual basis in August and rose 0.2% month-over-month, compared to a 2.9% year-over-year rate in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, rose 3.2% year-over-year in August, compared with 3.2% in July.

Read the full story

Commentary: Kamala Harris Would Shatter America’s Labor Market Already Showing Cracks

Daily Caller News Foundation
Kamala Harris

Friday’s jobs report reveals accelerating weakness in the American economy. Only 142,000 jobs were created last month, below expectations. Half of new positions were created in the unproductive government or quasi-government healthcare and social services sectors.

A record 8.2 million Americans have second jobs. So far this year, the number of unemployed Americans has increased by one million.

Read the full story

Economy Added Fewer Jobs than Expected in August as Unemployment Falls

Daily Caller News Foundation
Construction Worker

Economists anticipated that the country would add 161,000 nonfarm payroll jobs in August compared to the 114,000 added in initial estimates for July, and that the unemployment rate would fall to 4.2%, according to MarketWatch. The job gains follow a disappointing July report and a downward revision of over 800,000 jobs that the Biden administration had claimed to create between April 2023 and March 2024.

Meanwhile, previously reported job gains for July were revised down from 114,000 to 89,000 while gains for June were lowered from 179,000 too 118,000.

Read the full story

Casey Brings ‘Greedflation’ Claim to Pennsylvania Campaign Trail Despite Fact Checks, McCormick’s ‘Bobflation’ Website

Tom Pappert
Bob Casey

Senator Bob Casey (D-PA) on Tuesday reportedly repeated his dubious “greedflation” claim at an event in Lawrence County despite being contradicted in multiple fact checks, and after his Republican opponent, Dave McCormick, released his campaign’s “Casey Inflation Calculator” charting price hikes during his time in office.

Casey told attendees of a lunch held by the Lawrence County Democrats on Tuesday that companies “jack up prices and we’re supposed to just shut up about it,” according to New Castle News.

Read the full story

As Prices Soar, Americans Forced to Choose Between Food and Energy

American Greatness
People in grocery checkout line

With inflation remaining stubbornly high, many Americans have been forced to choose whether to pay for more groceries to feed their families, or to pay their energy bills to keep their families cool in the summer and warm in the winter.

According to CBS News, this new trend has been referred to as “energy poverty,” when Americans are unable to pay their energy bills or otherwise afford utilities. On average, households that spend 6 percent of their income or more on energy bills alone are considered to be in “energy poverty.” Currently, 1 in 7 American households spend approximately 14 percent of their income on energy.

Read the full story

Report: Ohio Wage Hikes Can’t Keep Up with Inflation

The Center Square
Food Workers

A new report shows a massive dump of federal taxpayer dollars into Ohio following the COVID-19 pandemic, and the 2021 recession led to the largest wage increase in more than 40 years, but it wasn’t enough for workers to keep up with the “effective” rate of inflation.

Policy Matters Ohio’s State of Working Ohio report, scheduled to be released Tuesday afternoon, showed the federal COVID-19 recovery plan put Ohioans back to work at a level with prerecession numbers and gave jobseekers their pick of potential jobs.

Read the full story

Fact Checker Dings Sen. Bob Casey for ‘Mostly False’ Claim ‘Greedflation’ Caused Higher Prices in Pennsylvania

Tom Pappert
Bob Casey

Fact checking website PolitiFact on Wednesday issued a “Mostly False” rating for the claim by Senator Bob Casey (D-PA) that higher prices paid by Pennsylvanians are caused by “greedflation,” or corporate greed.

The fact checker reported that while prices have sometimes increased higher than inflation since 2019, “most economists” told it “rising costs for goods and labor have been inflation’s primary drivers” of higher costs, while Federal Reserve regional banks have published studies which “cast doubt on the role of corporate greed in driving inflation.”

Read the full story

Dave McCormick Campaign Launches ‘Bobflation’ Calculator to Show Inflated Costs Under Biden-Harris, Sen. Bob Casey

Tom Pappert
Bob Casey

Republican U.S. Senate candidate Dave McCormick on Wednesday released its Casey Inflation Calculator, a website known as Bobflation.com that charts price increases for popular Pennsylvania purchases and everyday necessities.

“Pennsylvania’s iconic food and experiences are becoming increasingly unaffordable because of Kamala Harris and Bob Casey’s reckless spending,” said McCormick in a statement. “See for yourself just how much prices have increased with our Casey Cost Calculator.”

Read the full story

Former Trump Campaign Spokesman Steve Cortes: Kamala Harris Presidency Will Lead to ‘Scarcity, Shortages, and Black Markets’ for Everyday Goods

Kaitlin Housler

Steve Cortes, former senior spokesman and strategist for the 2016 and 2020 Trump campaigns and current head of the League of American Workers, is warning that Kamala Harris’ vow to pass the first federal ban on price gouging if she becomes president would lead to “scarcity, shortages, and black markets” for everyday goods in America.

Last week, during a campaign event in North Carolina, Harris said her plan to lower the prices of everyday goods if she were elected president would be to go after the “bad actor” businesses that are not “playing by the rules” by working to pass the first-ever federal ban on price gouging.

Read the full story

Critics Blast Harris’ New ‘Price Control’ Plan

The Center Square
Kamala Harris

Vice President and presumptive Democratic presidential nominee Kamala Harris is taking fire for her new “price-gouging” ban that critics say is little more than communism-style “price controls” where government heavily regulates industries.

Harris’ effort to address elevated consumer prices hits at a key pain point for Americans, but the details of how Harris plans to go about fixing that problem will be the subject of close scrutiny when she lays out the plan at a North Carolina rally Friday. Harris is expected to unveil a broader economic plan at the same rally, but so far there are few details on specifically how she will address inflation. Prices have risen more than 20% overall since she and President Joe Biden took office.

Read the full story

Analysis: June Unemployment 352,000 Under Biden-Harris, 1.47 Million Unemployed Since 2023

Admin
Joe Biden and Kamala Harris

The U.S. unemployment rate once again ticked up in the month of June to 4.3 percent as another 352,000 Americans said they were unemployed, according to the latest data from the Bureau of Labor Statistics. Markets are crashing in response.

Overall, 1.47 million more Americans say they’re unemployed since Dec. 2022, with the number of unemployed now up to 7.16 million, the highest since Oct. 2021 following the Covid recession.

Read the full story

Federal Reserve Declines to Cut Rates Yet Again as Americans Wait for Relief

Admin

The Federal Reserve announced on Wednesday that it will not yet cut its benchmark federal funds rate in what is predicted to be the last in a streak of pauses as inflation and debt continues to cripple Americans.

The Fed’s decision not to change interest rates keeps the target in a range of 5.25% to 5.50% and marks the eighth meeting in a row where the Fed chose not to adjust the rate, according to an announcement from the Fed following a meeting by the Federal Open Market Committee (FOMC). The July decision marks the last pause before the Fed is widely expected to cut rates from their 23-year high at the FOMC’s September meeting as the economy eases and inflation is expected to trend slowly toward the Fed’s target.

Read the full story

Kamala Harris’ Direct Connection to Bidenflation: a Tie-Breaking Senate Vote for Stimulus Package

Just the News
Kamala Harris

Vice President Kamala Harris cast the tie-breaking vote in the Senate for the first COVID-19 stimulus package in 2021 which led to inflation, in what critics call a sign of what’s to come in a possible Harris administration.

Harris, who is the President of the Senate, has cast the most tie-breaking votes in the Senate of any vice president, a total of 33 thus far. Her second tie-breaker was for the stimulus package at the beginning of the Biden administration, which has significantly impacted the economy, as inflation has skyrocketed.

Read the full story

Commentary: Government Policies are Exacerbating Evictions

Admin
Eviction Notice

Evictions are soaring, and Americans can’t pay the rent, potentially throwing hundreds of thousands of families out of their homes at a time when homeless shelters are jammed to the rafters with 10 million illegal immigrants.

It’s a useful reminder that the problem with our ruling elite isn’t just President Joe Biden’s dementia. They’ve made a very big bed we’re all going to be lying in.

Read the full story

Commentary: The Big Divide

Admin
Man looking out window

Whether the economy is currently bubbling along or facing a slowdown, a slow-motion disaster is about to create a real crisis for the government, our future politics, and the shrinking middle class. Half of households have no retirement savings.

This is just one of many shifts in the economy that reflect the declining fortunes of the middle class. Wages have remained mostly flat for most workers—particularly those without a college degree—since the early 1970s. Recent high rates of inflation further cut into the ability of the self-identified middle class to make ends meet. But the biggest change has been the abolition of employer-provided pensions and their replacement with rickety and self-managed 401k savings plans.

Read the full story

Poll: Inflation, Immigration, Economy Are Top Concerns of Voters

The Center Square
Shopping

The Center Square Voters’ Voice Poll, conducted prior to the weekend assassination attempt on former President Donald Trump, found that likely voters said inflation/price increases (45%), illegal immigration (36%) and the economy/jobs (28%) were the issues that matter most to them heading into the November election.

The poll was conducted in conjunction with Noble Predictive Insights from July 8-11 and surveyed nearly 2,300 likely voters, including 1,006 Republicans, 1,117 Democrats, and 172 true (non-leaning) independents. It has a margin of error of 2.1%. The Center Square Voters’ Voice Poll is one of only six national tracking polls in the United States.

Read the full story

Commentary: The Biden Titanic

Admin
Joe Biden

Joe Biden’s escalating dementia and the long media-political conspiracy to hide his senility from the public are the least of the Democrats’ current problems.

Biden’s track record as president may be more concerning than his cognitive decline. He has literally destroyed the U.S. border, deliberately allowing the entry of more than 10 million illegal aliens. His callous handlers’ agenda was to import abjectly poor constituencies in need of vast government services without regard for the current struggles of a battered American middle class and poor.

Read the full story

Steve Cortes Reveals Three Points GOP Should Focus on If Joe Biden Remains in Presidential Race

Kaitlin Housler
Steve Cortes

Steve Cortes, former senior spokesman and strategist for the 2016 and 2020 Trump campaigns and current head of the League of American Workers, said Republicans should focus on three specific key points leading up to the November 5 presidential election if President Joe Biden remains the Democratic Party’s nominee and refuses to be pushed from his post as commander in chief.

While some Democrats have called on Biden to step aside and not run for reelection, it appears the president is adamant about staying in the race to serve another four years.

Read the full story

Inflation Falls Below Expectations as Economy Cools

Admin
People in grocery checkout line

Inflation ticked down slightly year-over-year in June as rising prices continue to weigh on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.

The consumer price index (CPI), a broad measure of the price of everyday goods, increased 3.0 percent on an annual basis in June and decreased 0.1 percent month-over-month, compared to 3.3 percent in May, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 3.3 percent year-over-year in June, compared to 3.4 percent in May.

Read the full story

Unemployment Rate Climbs for Another Month as Job Gains Slump

Admin
Office Work

The U.S. added 206,000 nonfarm payroll jobs in June as the unemployment rate ticked up to 4.1%, according to Bureau of Labor Statistics (BLS) data released Friday.

Economists anticipated that 190,000 jobs would be added in June, far fewer than the initially reported 272,000 gain seen in May, and the unemployment rate would remain steady at 4%, according to U.S. News and World Report. Strong topline job gains in recent months have led some top economic officials, like Federal Reserve Chair Jerome Powell, to push back against claims that the economy is stalling, despite slow economic growth and high inflation.

Read the full story

Report Shows 61 Percent of Renters Can’t Afford Median Apartment Rate in U.S.

The Center Square
Los Angeles Apartment Building

Due to inflation eating away at earnings and less supply of affordable housing, the majority of Americans today cannot afford median rent prices, according to a new report by the real estate company Redfin.

The analysis comes as other reports indicate that both homeowners and renters are struggling with high housing costs due to inflationary pressures, an inflated housing market, low supply and demand for affordable housing.

Read the full story