Bidenflation: September inflation rate still high, 8.2 percent

There is more bad news for Americans as the new inflation numbers are out. 

From CNBC:

The rate of inflation rose by 0.4% in September, and remains well above its benchmark target of 2%, making the prospect of continued “jumbo” interest rate hikes more likely.

The year-over-year rate of inflation is now 8.2%, down from its June peak of 9.1%, according to the Labor Department’s Consumer Price Index, which measures how much Americans pay for certain goods and services.

That is slightly higher than many forecasts, including a Bloomberg survey of 51 economists that predicted a year-over-year inflation rate of about 8.1%.

The prices for core goods continue to rise steadily, increasing by 0.6%, which is the same rate as the previous month. Core goods is a measure of all items except food and energy prices, which tend to be more volatile.

The reckless spending policies of the Biden administration continues to eat away at America's spending power. "Free money" makes money worth less. And what about Biden's Inflation Reduction Act?