Inflation Soared To A New 41-Year High In June

The Consumer Price Index (CPI), a key inflation index, came in “much hotter” than expected, hitting its highest rate in OVER 40 years. The CPIsoared 9.1% from a year ago, its highest rate since December 1981. Former President Obama’s Chair of the Council of Economic Advisers Jason Furman said that June’s inflation report was “brutal.”

NEVER FORGET: Last July, Joe Biden told the American people that skyrocketing inflation was “temporary.” Biden was wrong, just as he has been about every major economic issue facing America.


  • Inflation is a tax on ALL Americans.
  • In June, the CPI soared 9.1% for the 12 months ending June, the largest 12-month increase since the period ending December 1981.
  • The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June.
    • This monthly inflation rate is equivalent to an annualized 17.1%.
  • Last year, Joe Biden told the American people that inflation was just “temporary,” which was FALSE.
  • Wages are not keeping up with inflation, and have actually DECREASED, while prices for goods have risen.
  • Real wages are down nearly 4.8% from the beginning of the Biden Administration.
  • Real average hourly earnings decreased 3.6%, seasonally adjusted, from June 2021 to June 2022.
  • Americans are paying more for just about everything because of inflation:
  • Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices.

MAKE NO MISTAKE: Inflation is a tax on ALL Americans, and it has steadily increased over the span of Joe Biden’s failed presidency. As inflation has continued to skyrocket, wages have actually DECREASED.