“Biden Inflation Up!” – Trump Reacts To Inflation Report
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Inflation ran hotter in January with it hitting 3% for the first time since June.
Consumer prices roared higher in January, driving inflation up to 3% for the first time since June of last year and further raising the cost of living for Americans.
Consumer prices rose 0.5% from December — the fastest monthly pace since September 2023 — resulting in an annual inflation rate of 3% for the 12 months that ended in January, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.
US stock futures dropped after the report was released, with investors concerned that inflation has reversed its recent progress and could lead to higher interest rates. Futures on the Dow, S&P and Nasdaq were all lower by around 1%. The 10-year Treasury yield surged to 4.6% on the hotter-than-expected data.
Donald Trump reacted to the news on Truth Social.
BIDEN INFLATION UP!
Shorter headline: Inflation was 3% during Biden’s final month. https://t.co/Y4bCleFwv7
— Ryan Saavedra (@RealSaavedra) February 12, 2025
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