American households are bearing the brunt of rising inflation under President Joe Biden.
Daycare and school costs have soared by nearly 5% since March Consumer Price Index (CPI) data was released in 2023. Wednesday show:
— Elementary and high school tuition and fees: 4.8% increase 0.0% increase since March 2023 / since February 2024
— Nursery school and kindergarten: 4.4% increase 0.1% decline since March 2023 / since February 2024
Overall, the consumer price index in March increased by 0.4% compared to February. The composite index is up 3.5% from 12 months ago, according to Breitbart News’ John Carney.
Economists had expected sales to rise 0.3% month-on-month and 3.4% over the 12 months.
Core inflation, which excludes food and energy, rose 0.4% in the month, in line with last month and above expectations of 0.3%. Compared to a year ago, core inflation rose 3.8%, which was also better than expected and in line with February’s numbers.
When the consumer price index spiked in January, many analysts said it was likely a seasonal anomaly and expected inflation to start falling again soon. After three months of higher-than-expected inflation, that’s no longer a valid interpretation. Over the past three months, core inflation rose at an annual rate of 4.6%. That’s the highest three-month annual rate of inflation for any period between August 1991 and 2020, said Harvard economist Jason Furman.
Breaking news: Inflation rate rose 3.5% from last year, “severer than expected”.
Overall prices have increased by 19.4% since Biden took office. pic.twitter.com/YfTcMe4Bel
— RNC Research (@RNCResearch) April 10, 2024
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
