by Christian K. Caruzo
Breitbart.com
The National Institute of Statistics and Census of Argentina (INDEC) announced on Tuesday that Argentina registered a 13.2 percent inflation rate in February, marking the second month in a row where inflation has slowed down as a result of President Javier Milei’s austerity policies.
Upon taking office in December, Milei applied a series of “shock therapy” measures to avoid a total economic collapse in Argentina after nearly two decades of socialist governments left the country teetering on the brink of hyperinflation. Milei began by undoing as many of the hundreds of socialist regulations as possible and has turned his attention towards the near-depleted foreign reserves and a convoluted currency control system.
There’s been another bump in the disinflationary road. The Bureau of Labor Statistics announced the Consumer Price Index (CPI) increased 0.4 percent in February and 3.2 percent year-over-year, exceeding many economists’ predictions. That’s up slightly from January’s 0.3-percent monthly and 3.1-percent annualized increases.
Biden Treasury Secretary Janet Yellen expressed regret for advancing the false talking point that inflation in the U.S. was “transitory.”
Inflation came in hotter than expected and – guess what? – stocks screamed higher … which is the exact opposite of what “should” happen.
The budget plan President Joe Biden unveiled on Monday would hike taxes, increase federal spending to unprecedented levels, and lock in budget deficits that average nearly $2 trillion annually for the next decade.
Core services CPI — 61% of total CPI and infamous for historic head fakes — is approaching 6% annualized six-month average.
I used to really enjoy going to the grocery store. I would relentlessly hunt for deals, and I would show off what I was able to find when I got home. But now all of the bargains are gone. Instead, there are ridiculous prices and there are even more ridiculous prices. The prices for some of the things that I normally buy have doubled. In other cases, the prices have almost doubled. Of course the soaring cost of living is the direct result of decisions that our leaders have made. They just kept borrowing, spending and flooding the system with money, and now the cost of living is wildly out of control.
In February 2024, the AIER Everyday Price Index (EPI) rose 0.73 percent to 286.9. This rise was the largest percentage increase in the index since August 2023 and the eighth largest going back to January 2022 (26 months).
(NewsNation) – Kellogg’s CEO Gary Pilnick is facing backlash after suggesting that cash-strapped households save money by eating cereal for dinner.
Inflation pressures remained persistent in February, as prices for shelter and gas rose, according to the latest data from the Bureau of Labor Statistics released Tuesday morning.
Two crypto influencers on X have called on their followers to snap up Bitcoin, gold and silver, citing the risk of rising national debt in the United States.
Surge Pricing Is Coming to You
Buying now and paying later is still a popular way to splurge on airfare to Cabo. It’s an increasingly common way to buy groceries and lawn furniture, too.
President Joe Biden will reportedly use tonight’s State of the Union address to once more rail against what the White House has taken to calling “shrinkflation”—the annoying corporate practice of shrinking the size of products rather than raising prices.