2010 or so, but still we can say near record inflation for the prices that are happening at the factory level. so consumers and businesses, the downside of this strong economy overall and this, you know, booming consumer demand is that prices are going up. we saw those consumer prices yesterday, you dig into those numbers just about every place you look over the past year. you re paying higher prices. that s because consumers are their demand for goods and services is rising pretty aggressively. same time you have some supply glitches still because of covid and the pandemic world that we live in. so overall, i think the picture, brianna, of the economy here is good news on the jobs market. and the economy is strong, inflation is a problem. the fed is on the case. the federal reserve is the official inflation fighter and we ll start to see higher interest rates as the fed tries to tackle inflation in the near term. yeah, bacon up 19% on your
companies will have items. if you are a fan of ben & jerry s phish food, no problem. talk about halloween decorations, christmas trees. right down the line you have global supply glitches. i talked to a small business owner this weekend who said you might not see higher prices but you ll see fewer discounts or coupon code. i call it shrinkflation. the box is smaller instead of higher prices. we ll be right back.
districts of 15 vulnerable democrats including representatives tom malinowski, and others. they re zeroing in on inflation in the booming economy. consumer prices did rise 5.4% over the past 12 months that s the july the reality is inflation is the downside of an economy roaring back to life from an unprecedented collapse. demand for just about everything is coming back faster than producers can keep up. supply glitches mean they can t make and deliver goods as quickly. blaming stimulus efforts, that s risky for the gop. that began in the trump administration. still, the pocketbook complaints and prices at the pump resonate. here s house minority leader kevin mccarthy. oil prices, the highest we ve seen, begging opec to produce more. now we re watching they re trying to cheat with elections, inflation, a number we have not seen. you can hear that litany of complaints they re trying to
are spending more. electronics up 8%, shoes up 8%, dresses up 19%. call finding the pocketbook angle, blaming democrats for higher prices in school supplies, part of a campaign from the national republican congressional committee, targets 15 vulnerable democrats. they are zeroing in on inflation in the booming economy and blame the democrats for it. consumer prices did rise 5.4% the past 12 months. it is real. but it is misleading of course to blame it on biden. the reality is inflation is the down side of an economy roaring back to life, demand for just about everything is coming back faster than producers can keep up and the supply glitches mean that they can t make and deliver goods as quickly. remember stimulus efforts, if you are trying to blame stimulus efforts, those began in the trump administration and were voted for by republicans. another angle of attack of
gas is more expensive, your grocery bill is higher, car prices at record highs. all eyes will be on the consumer price index for july. consumer prices rose 5.4% in june, largest in 13 years. stripping out volatile food and energy costs, prices rose 4.5%. and that is the fastest core pace since november 1991. it is the down side of a hot economy. demand for everything coming back all at the same time faster than producers can keep up and supply glitches mean they can t make and deliver goods as quickly. and join cnn for a once in a lifetime concert event, we love new york city, the homecoming concert, saturday, august 21, only on cnn. a is a credit card company, huh? but it s actually a network. connecting just about everyone to just about everyone else. it can open eyes with a cup of coffee