Core Inflation Falls to Lowest Rate in Four Years - Wage Growth Outpaces Inflation

Under “President” Joe Biden, inflation soared to historic highs, peaking at 7.1% in 2022, as reported by the Federal Reserve’s preferred gauge, the Personal Consumption Expenditures price index. This surge was driven by reckless spending and supply chain disruptions he had no idea how to fix. 

According to government statistics, essentials like food, rent, and gas were 20-30% higher than four years prior - though, anecdotally, it sure feels much higher than that. Perhaps it’s just my diet, but my grocery bill was up 50-100% depending on the item. 

Bidenflation was among the many issues that was going to cost Biden the election before he dropped out and endorsed Shakespearean orator Kamala Harris. 

Enter Donald Trump, and inflation is finally pulling back. 

As Breitbart’s John Carney reports:

Prices barely climbed in April, pulling the annual rate of inflation down toward the Federal Reserve’s two percent target, even while personal income climbed at a rapid rate.

The personal consumption price index climbed 0.1 percent in April, the second month in a row in which consumers got relief from inflation that had plagued the economy throughout the Biden administration. In March, the index showed prices were flat.

This brings core inflation to the lowest it's been in four years. Personal income rose 0.8% in April, for a net 0.7% gain net of inflation. 

Matt Palumbo is the author of “The Heir: Inside the (Not So) Secret Network of Alex Soros”