https://pjmedia.com/news-and-politics/gwendolynsims/2022/07/15/the-u-s-misery-index-worsens-as-unchecked-bidenflation-grows-n1612816
The U.S. government announced Wednesday that June’s federal inflation numbers increased to a staggering 9.06% — a 40-year high. According to the official Bureau of Labor Statistics (BLS) news release, inflation is being felt keenly and across the board:
The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent and the other major component indexes also
rising. The food index rose 1.0 percent in June, as did the food at home index.
The index for all items less food and energy rose 0.7 percent in June, after increasing 0.6 percent in the preceding two months. While almost all major component indexes increased over the month, the largest contributors were the indexes for shelter, used cars and trucks, medical care, motor vehicle insurance, and new vehicles. The indexes for motor vehicle repair, apparel, household furnishings and operations, and recreation also increased in June. Among the few major component indexes to decline in June were lodging away from home and airline fares.
From the updated BLS data, economists quantify the economic health of the country. To do so, they add the current U.S. unemployment rate, which is a stagnant 3.6%, to the current rate of U.S. inflation, which is a jarring 9.06%, to produce a snapshot of the country’s economy. The result is known as the U.S. Misery Index.
