The latest March CPI report indicates a mixed picture of the U.S. economy with certain sectors experiencing significant price changes over the last year. Transportation saw the highest increase at 10.7%, followed by shelter at 5.7%, and electricity at 5.0%. Notably, food away from home increased by 4.2%, while overall CPI rose by 3.5%. On the other hand, sectors such as new cars, used cars, gas utilities, and fuel oil saw price decreases. The Bureau of Labor Statistics highlighted that the index for shelter and gasoline rose in March, contributing to over half of the monthly increase in the index for all items. Inflation reached 3.5% in the past year, marking the highest rate since September, with car insurance (+22%), car repair (+12%), baby formula (+10%), and veterinarian costs (+10%) driving the inflation. President Biden has called on companies to use their record profits to cut prices, stating that inflation is down more than 60% from its peak, but more efforts are needed. Critics argue that consumer prices have surged 19.4% and food prices more than 21% since Biden took office, with energy prices up 38.8%, attributing the economic challenges to 'Bidenomics.'
⚠️ JUST IN: *BIDEN CALLS ON COMPANIES TO USE RECORD PROFITS TO CUT PRICES *BIDEN: INFLATION DOWN MORE THAN 60% FROM PEAK BUT MORE NEEDED https://t.co/Ejx7EVNcQE
Biden’s inflation is CRUSHING our pocketbooks. 🏠Rent UP 5.9% 🍼Baby formula UP 10% 🚗Car insurance UP 22% ⚡️Electricity UP 5% All across our country, Americans are falling behind. This is all happening under Biden & folks are NOT better off.
For the third straight month, inflation rose higher than expected and prices are now up 19.4% since President Biden took office. We cannot afford another four years of “Bidenomics.” https://t.co/7K0325Wspj
This morning new March inflation numbers were released. Inflation was UP 3.5% LAST MONTH & 19.4% SINCE BIDEN took office. Here are some of March's largest increases: 💿Video/gaming discs UP 30.1% 🥤Frozen drinks UP 27.5% 🚘Car insurance UP 22.1% 🏠House repair services UP 18%
For the third straight month, inflation came in above expected projections — but every Kansan shopping for groceries or filling up at the pump knows prices are still rising. Inflation is up 17.5% since Biden took office, costing the average American family $1,049 more each month.
inflation in the usa up 3.5% from march 2023 – march 2024 definitely not the news biden wanted (0.4% from feb to march) https://t.co/LfFK0owr03
BIDEN CALLS ON COMPANIES TO USE RECORD PROFITS TO CUT PRICES BIDEN: INFLATION DOWN MORE THAN 60% FROM PEAK BUT MORE NEEDED
🚨Inflation is now up 19.4% since President Biden took office. 📈Food prices up 21.1% 📈Energy prices up 38.8% This is Bidenomics’ legacy. https://t.co/l9HjLIFD91
Overall CPI inflation has increased 19% since Biden took office in 2021. Prices are continuing to rise and real earnings are continuing to fall. Americans cannot afford #Bidenomics.
Since Joe Biden took office, consumer prices are up 19.4% and food prices at up more than 21%. #Bidenomics is failing the American people. https://t.co/lUv5l8Bder
*BIDEN CALLS ON COMPANIES TO USE RECORD PROFITS TO CUT PRICES *BIDEN: INFLATION DOWN MORE THAN 60% FROM PEAK BUT MORE NEEDED Translation: prices are at an all time high and rising at almost 4% so blame greedy companies, Putin and Exxon... anyone but me
🔴 BIDEN: INFLATION DOWN MORE THAN 60% FROM PEAK BUT MORE IS NEEDED.
US CPI: Shelter up 5.7% YoY Transportation Services up 10.7% Services up 5.4% Electricity up 5%
Inflation was 3.5% in the past year --> highest since September. Here are key items really driving inflation now Car insurance +22% in past year Car repair +12% Baby formula +10% Veterinarian +10% Rent +5.9% Electricity +5% Restaurants +4.2% (Gas up 1.3% in past year) https://t.co/gJ3JVSJmAg
Price changes over last year (March CPI report)... Transportation: +10.7% Shelter: +5.7% Electricity: +5.0% Food away from home: +4.2% Overall CPI: +3.5% Medical Care: +2.1% Gasoline: +1.3% Food at home: +1.2% New Cars: -0.1% Used Cars: -2.2% Gas Utilities: -3.2% Fuel Oil: -3.7%
CPI: HOT @BLS_gov: "the index for shelter rose in March, as did the index for gasoline. Combined, these two indexes contributed over half of the monthly increase in the index for all items." housing housing housing https://t.co/mn5LuWCyP4