Consumers Knew Prices Were Rising, the Media Refused to Believe Them

Consumers Knew Prices Were Rising, the Media Refused to Believe Them | Frontpage Mag

So much for the lies.

Frontpage Mag

by Daniel Greenfield

So much for the lies.

In shocking news, prices are rising.

Dow drops by 500 points after a surprisingly bad inflation report – CNN.

Surprisingly bad.

This comes after the media had spent weeks insisting that Americans were mentally ill or delusional for thinking that the economy was bad. And no, I’m not exaggerating. Headline after headline pretended to psychoanalyze the country.

Americans are unusually down on a solid economy. NBC News

Why Americans Hate a Good Economy- The Atlantic

‘The economy isn’t sick right now,’ economist says—here’s why Americans still feel like it is – CNBC.

Meanwhile, any normal human beings who still shop for goods and services knew this was coming.

The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon.

The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month, putting the 12-month inflation rate at 3.5%, or 0.3 percentage point higher than in February, the Labor Department’s Bureau of Labor Statistics reported Wednesday. Economists surveyed by Dow Jones had been looking for a 0.3% gain and a 3.4% year-over-year level.

Excluding volatile food and energy components, core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago, compared with respective estimates for 0.3% and 3.7%.

The government keeps burning cash while the economy remains unstable. I’m sure Biden will pop up with a potato chip Tiktok video anytime now, but the bottom line is that there are shortages and unexpected price bumps all over, combined with a messy labor situation, which means that costs will keep on rising…