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Biden Effect: Inflation Accelerates in January, Worse than Analysts Expected

Prices for just about everything rose at a faster pace in January than in recent months and increases are higher than analysts expected, according to the newest Bureau of Labor Statistics (BLS) report.

Year-over-year (YoY or annual) inflation came in at 7.5%, a 40 year high and above analysts 7.2%-7.3% estimate. The new numbers show inflation is accelerating in contrast to some experts’ predictions.

For the month of January, the BLS reported a .7% gain in prices that exclude food and energy. But the more important number, for those Americans that work for a living, eat food, heat their homes, and drive a car (CPI-W), is that overall prices increased by .9% last month. That’s almost one full percentage point in a single month. If the trend continues, double-digit Carter-like inflation could be near.

Another key takeaway from the report is that vehicle prices, which pushed inflation higher in 2021, rose little while food prices – a top concern for most working families – topped the list at .9% in January (7% YoY). New car prices stayed flat compared to December and used vehicles rose only 1.5% year-over-year.

The January figures show that core inflation rose at the fastest level since August of 1982 while wages in January, when adjusted for inflation, dropped 1.7%.

As American families are left dealing with average monthly costs more than $250 higher than 2020 levels, Biden’s approval ratings and Democrats’ chances to hold a majority in Congress are both sinking fast.

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Rich Mitchell

Rich Mitchell is the editor-in-chief of Conservative Daily News and the president of Bald Eagle Media, LLC. His posts may contain opinions that are his own and are not necessarily shared by Bald Eagle Media, CDN, staff or .. much of anyone else. Find him on twitter, facebook and

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