Although it is almost impossible for journalists to ignore inflation, they still strive to avoid the core truth of the economy.
When it comes to the country’s economic outlook, as the number of optimistic reports on inflation data decreases, you will understand how bad the situation can be. We no longer get the optimistic predictions and optimistic explanations made in the previous months to improve President Biden’s performance. Even so, there is still a significant silence to take responsibility appropriately, and the exposed aspect is that there is no report.
With the release of July numbers Data from the Department of Labor shows that the consumer price index rose 0.5% in July, which caused overall prices to rise 5.4% in 12 months. In the process of trying to find a silver lining (the price may also rise), it is said that the price increase is not as sharp as last month is good news, although the pace of 12 months and the rate of June have reached the highest level in 12 years—— So the good news is that the situation is not actually worse.
You will notice that in most news details in this report, two things are not acknowledged. Covering a sharp increase in prices but not as sharp as people feared, you will hardly find anyone alluding to our promise from the White House to the way prices are allegedly falling. Remember the news we received about the drop in food supply prices on July 4th? Well, let’s re-examine it, because most media deny that this happened.
Planning a picnic this year? Ketchup on the news. According to the Bureau of Agriculture, the cost of barbecue on July 4 was lower than last year. This is the fact (d) you must hear. Hot dogs, Biden’s economic plan is working. This is something we can all talk about. pic.twitter.com/7h9qLauIbC
-White House (@WhiteHouse) July 1, 2021
The government’s wish was shocked by anyone who had been to the grocery store in recent weeks. Now we see that not only did they try to lower the price to become a reality, but what they did was definitely equivalent to selling us tofu and at the same time telling us that it was sirloin.
The food CPI rose by 0.7% in July and 3.4% in the past 12 months, which is much higher than the annual increase of 2.4% in June. The price of out-going food rose by 0.8% in July, reflecting the impact of surge in demand and supply chain disruptions on restaurants.
Want to insist that we saved $0.16 on mustard, Joe?
Another aspect that the media will not admit is that these numbers are bad (the trend shows that this is not a temporary interest rate hike due to economic opening) without the impact of the implementation of the infrastructure bill. A huge expenditure proposal is about to be passed and will cost trillions of dollars. Once passed, it will further dilute the U.S. dollar.
The media are unwilling to take an overly critical attitude towards Biden and have made every effort to avoid blaming him here. Reuters hopes This is a sign that inflation is fading. CNN announced Inflation is easing, And at the same time attributed this rise to “the strange phenomenon of inflation in the pandemic era.” When these bad numbers continue to arrive every month, we usually receive “accidental” reports, which are a new wrinkle.
