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President Biden’s economic plan is reportedly affecting the lives of Americans. This Friday, Fox Business highlighted how prices have risen consecutively for 13 months despite Biden’s claims that inflation would be “transitory.”
“So-called core prices, which exclude more volatile measurements of food and energy, climbed 5.9% from the previous year. Core prices also rose 0.7% on a monthly basis – higher than in April and May – suggesting that underlying inflationary pressures remain strong and widespread,” Fox Business explained.
The media outlet added that “The United States has experienced 13 straight months of high inflation since the Biden administration dismissed concerns about rising costs and said the contributing factors were transitory.”
Highest inflation in 40 years
The information is known just days after inflation reached 9.1%: the highest value in 40 years. El American reported that in the last twelve months, energy prices have risen 41.6%, the highest increase since April 1980.
“The high inflation that has been affecting the U.S. economy for months has led the Federal Reserve to successive interest rate hikes, which are expected to continue in the future, in order to contain the rise in prices”, reported El American.
Williams Perdomo es periodista y escritor, especializado en las fuentes Política y Cultura.