Inflation Soars To History-Making Levels — And Even Democrats Are Freaking Out

Dem West Virginia Sen. Joe Manchin had a big warning for Americans this week as consumer data for October revealed inflation going to record highs.

In a tweet published on Wednesday, Manchin warned lawmakers in DC they could no longer ignore Americans struggling with increasing inflation.

“By every account, the threat of record inflation against the American public is not “transitory” and is getting worse,” Manchin said. “From the groceries to gas, Americans understand the inflation tax is real and DC can not ignore it any longer given the economic pain people are feeling every day.”

Manchin’s tweet comes as the Dept. of Labor gave its Producer and CPI’s for October, both of which revealed inflation at record numbers. The Producer Price Index revealed that inflation went up by 0.6% from Sept. and matched the 8.6% y/y rate increased in the same month. The uptick, spurred on by increasing gas and food prices, was the top rate recorded by the Dept., whose records go back to Nov. 2010.

The CPI showed a 0.9% month-over-month rise and a 6.2% year-over-year boost from Oct. 2020 to Oct. 2021, the fastest yearly rate increase seen since 1990. The inflation spike also went past economists’ expectations of both yearly and monthly increases. The increases were worse among fuel, used cars, and food.

Manchin’s comments come with a trend in which the West Virginia lawmaker has shown sincere concern about the price of the Biden White House’s spending programs and the affect it would have on Americans.

“Throughout the past three months, I was straightforward about my worries that I won’t support a reconciliation program that expands social programs and adds to America’s $29 trillion in debt that nobody else seems to care for. Nor will I support a program that risks harming American families who are suffering from record inflation,” Manchin said at a media conference previously this month, as reported by The Hill.

Manchin also slammed the Biden White House for its bad handling and shifting of blame for increasing fuel costs. “We were energy independent for the first time in 67 years,” Manchin said to Fox News last week. “Why can’t we do even more? We have lots of natural gas.”

Author: Scott Dowdy