Thursday, October 2, 2025

The Return of Bidenflation: Price Rose More than Expected in March.

Consumer Price Index (CPI) inflation was worse than expected in March, according to new figures. Economists had expected price rises to be up by 0.3 percent, but they were actually up by 0.4 percent. Inflation has been worse than forecast for several months in a row now.

Compared to the same time last year, inflation is up 3.5 percent. Last month, the year-on-year rise was 3.2 percent.

Surging energy and shelter costs are responsible for half the inflation increase, but measuring only “core inflation” — which excludes food and energy — still gives a rise of 0.4 percent.

The renewed acceleration of inflation makes it increasingly unlikely the Federal Reserve will cut interest rates before the end of the year. Previously, the U.S. central bank had signaled it was considering at least one rate cut prior to 2025.

News of the worse-than-expected inflation numbers was followed swiftly by a fall in U.S. stock-index futures. S&P 500 futures fell by 71 points, Nasdaq 100 futures by 275 points, and Dow Jones Industrial Average futures by 463 points.

Ron Klain, former Chief of Staff to President Joe Biden, recently warned the 81-year-old Democrat was not making enough progress on bringing down prices.

“Prices are still high, the price of gasoline is still high, other prices are still high, and people feel that pinch,” he said.

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Consumer Price Index (CPI) inflation was worse than expected in March, according to new figures. Economists had expected price rises to be up by 0.3 percent, but they were actually up by 0.4 percent. Inflation has been worse than forecast for several months in a row now. show more
Bidenomics

REVEALED: The *REAL* Inflation Numbers, Which Biden Doesn’t Want You to See, Nor Share.

Leading economic and price indices have indicated a re-acceleration of inflation over the past several months. The return of inflation was further confirmed early on Wednesday, with the Consumer Price Index (CPI) coming in hotter than expectations. According to the data, inflation is up 3.5 percent over the same time last year — well above the Federal Reserve’s 2 percent target.

The previous two months saw jumps in the Producer Price Index (PPI) and the Personal Consumption Expenditures Price Index (PCE), further fueling fears regarding inflation’s return.

While the complex government price data is a major factor in the Federal Reserve’s determination of whether to cut or increase interest rates, it does little to shed light on inflation’s impact on the average American family. However, examining annualized increases in the price of goods provides a fairly grounded view of how inflation hurts Americans.

Below is a list of goods impacted by price inflation driven by President Joe Biden‘s reckless fiscal policy. The numbers reflect the annualized increase in cost as a percentage compared to 2021.

BIDEN’S INFLATION CRISIS IN NUMBERS.

Food at elementary and secondary schools65.0%
Fuel oil59.4%
Other motor fuels54.1%
Margarine52.5%
Motor vehicle insurance50.1%
Other lodging away from home, including hotels and motels49.4%
Eggs49.3%
Gasoline, unleaded regular48.2%
Frozen noncarbonated juices and drinks47.8%
Gasoline (all types)47.8%
Motor fuel47.7%
Energy commodities47.6%
Gasoline, unleaded midgrade46.8%
Gasoline, unleaded premium46.0%
Leased cars and trucks45.0%
Fuel oil and other fuels44.3%
Lodging away from home42.6%
Repair of household items40.9%
Motor vehicle repair40.5%
Other fats and oils, including peanut butter40.1%
Energy38.8%
Crackers, bread, and cracker products38.2%
Transportation services38.0%
Fats and oils35.3%
Video discs and other media35.1%
Flour and prepared flour mixes33.5%
Airline fares32.7%
Butter and margarine32.0%
Other bakery products30.7%
Salad dressing30.6%
Admission to sporting events30.6%
Frozen and refrigerated bakery products, pies, tarts, turnovers30.5%
Baby food30.5%
Delivery services30.4%
Food from vending machines and mobile vendors30.3%
Motor vehicle maintenance and repair30.2%
Uncooked beef roasts29.8%
Tax return preparation and other accounting fees29.7%
Electricity29.3%
Sugar and sugar substitutes29.1%
Veterinarian services29.0%
Energy services28.9%
Apparel services other than laundry and dry cleaning28.8%
Olives, pickles, relishes28.6%
Other condiments28.5%
Frozen vegetables28.2%
Care of invalids and elderly at home27.8%
Canned vegetables27.3%
Window coverings27.2%
Motor oil, coolant, and fluids27.2%
Sauces and gravies26.9%
Utility (piped) gas service26.9%
Food at employee sites and schools26.8%
Canned fruits and vegetables26.8%
Stationery, stationery supplies, gift wrap26.7%
Pet services, including veterinary26.7%
Cookies26.7%
Bakery products26.7%
Soups26.4%
Fresh biscuits, rolls, muffins26.2%
Fresh whole chicken26.0%
Other uncooked poultry, including turkey26.0%
Cakes, cupcakes, and cookies25.5%
Cereals and bakery products25.4%
Carbonated drinks25.1%
Other food at home25.0%
Cigarettes25.0%
Financial services25.0%
Juices and nonalcoholic drinks24.8%
Admissions24.8%
Uncooked beef steaks24.8%
White bread24.7%
Frozen and freeze-dried prepared foods24.6%
Canned fruits24.5%
Other sweets24.5%
Checking account and other bank services24.5%
Processed fruits and vegetables24.4%
Poultry24.4%
Beef and veal24.3%
Nonfrozen, noncarbonated juices and drinks24.1%
Chicken23.9%
Spices, seasonings, condiments, sauces23.8%
Other foods23.8%
Fresh cakes and cupcakes23.8%
Sugar and sweets23.8%
Pet food23.7%
Bread23.7%
Car and truck rental23.7%
Tobacco and smoking products23.6%
Fresh and frozen chicken parts23.6%
Other dairy and related products23.6%
Butter23.5%
Frozen fruits and vegetables23.4%
Lunchmeats23.4%
Motor vehicle maintenance and servicing23.4%
Women’s dresses23.3%
Domestic services23.3%
Nonalcoholic beverages and beverage materials23.2%
Other miscellaneous foods23.1%
Snacks22.7%
Propane, kerosene, and firewood22.7%
Bread other than white22.6%
Candy and chewing gum22.6%
Uncooked other beef and veal22.6%
Cereals and cereal products22.5%
Limited service meals and snacks22.5%
Laundry and dry cleaning services22.3%
Public transportation22.2%
Household operations21.9%
Vehicle accessories other than tires21.9%
Other meats21.8%
Uncooked ground beef21.6%
Miscellaneous personal services21.4%
Frankfurters21.4%
Food away from home21.4%
Meats, poultry, fish, and eggs21.3%
Roasted coffee21.3%
Floor coverings21.2%
Tools, hardware, and supplies21.2%
Food at home21.1%
Food21.1%
Full-service meals and snacks21.0%
Rent of shelter20.9%
Used cars and trucks20.9%
Legal services20.8%
Meats20.8%
Shelter20.7%
Photographic equipment and supplies20.5%
Breakfast cereal20.5%
Motor vehicle parts and equipment20.5%
Men’s shirts and sweaters20.4%
Rent of primary residence20.4%
Household paper products20.4%
Outdoor equipment and supplies20.4%
Tools, hardware, outdoor equipment, and supplies20.3%
Owners’ equivalent rent of primary residence20.1%
Owners’ equivalent rent of residences20.1%
Rice, pasta, cornmeal20.1%
Other processed fruits and vegetables, including dried20.0%
Transportation commodities less motor fuel19.9%
Tires19.7%
Meats, poultry, and fish19.7%
Pets and pet products19.6%
Coffee19.6%
New trucks19.5%
Other food away from home19.4%
Dried beans, peas, and lentils19.4%
All items19.4

Thank you for reading.

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Leading economic and price indices have indicated a re-acceleration of inflation over the past several months. The return of inflation was further confirmed early on Wednesday, with the Consumer Price Index (CPI) coming in hotter than expectations. According to the data, inflation is up 3.5 percent over the same time last year — well above the Federal Reserve's 2 percent target. show more
Bidenomics

2008 Recession Predictor Warns Over Coming Downturn.

Financial analyst Gary Shilling, renowned for accurately predicting the 2007-2008 financial crisis and its roots in the subprime mortgage loan market collapse, says the U.S. economy still faces the potential of a deferred recession. Evidence indicating the U.S. labor market may be cooling is at the core of his concern.

According to Shilling, the labor market’s accelerated bounce-back post-pandemic allowed the U.S. to largely avoid a potential recession last year, however, the economic pain may have just been delayed.

“You haven’t had that weakness in labor markets that, I think, you normally would have had and would have [caused] a recession [in 2023],” Shilling said in an interview with CNBC. He added: “That doesn’t mean we won’t have one, but it means whatever it is, it’s delayed.”

Shilling warned that he’s already seeing “preliminary signs of weakness” in the labor market, suggesting a recession-inducing slowdown could be imminent. The financial analyst is especially concerned about indicators showing a decrease in wage gains, rising rates of quits, and service inflation.

“It’s the service inflation [that] really is a difficulty for the Fed, and if you look at wages in the service area, they’re rising 5 percent or 6 percent year over year,” Shilling noted before adding: “Now that’s hardly commensurate with the Fed’s target of 2 percent inflation.”

The concerns raised by Shilling have been echoed in recent economic data. Over the last two months, the PPI and PCE indexes have suggested a potential reacceleration in inflation, leaving some analysts to believe the Fed may no longer move toward cutting interest rates this year. Additionally, the March jobs report added to mounting evidence that the labor market has significantly softened, with the economy gaining almost entirely part-time jobs while continuing to shed full-time employment.

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Financial analyst Gary Shilling, renowned for accurately predicting the 2007-2008 financial crisis and its roots in the subprime mortgage loan market collapse, says the U.S. economy still faces the potential of a deferred recession. Evidence indicating the U.S. labor market may be cooling is at the core of his concern. show more
Bidenomics

So Uh, About That Latest Jobs Report…

All that glitters is not gold in the latest hiring data, which shows that a surprisingly high 303,000 jobs were added to the U.S. economy in March. Except the numbers are a little more tricky than most of the media coverage would have you believe.

The glitter: The topline number from the Bureau of Labor Statistics (BLS) report is way better than the 200,000 jobs economists forecast and is the largest one-month jump since May 2023. Unemployment also ticked down slightly from 3.9 percent to 3.8 percent.

This sounds great until you look closer…

Fools gold: The job gains were entirely made up of part-time employment. In March, 691,000 part-time jobs were added, and full-time jobs dropped by 6,000.

Foreign workers taking American jobs: The March data shows that in the last year, native-born Americans have lost a net of 651,000 jobs. And worse, they have been replaced with 1.3 million foreign-born workers.

  • It’s important to note that the BLS report does not distinguish between foreign-born workers who are here legally or illegally.

Where were jobs added? The sectors that saw the most growth were healthcare (72,000) and government (71,000). There was zero gain in manufacturing jobs.

Big picture: In 2022-2023, the Federal Reserve raised interest rates to make it harder for you to borrow money in the hopes that it would slow down the economy, which, in theory, should cool down inflation. But this hot jobs report means interest rates are going to stay higher for longer — something Joe Biden does not want in an election year.

This article is adapted from the free ‘Wake Up Right’ newsletter, which you can subscribe to here.

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All that glitters is not gold in the latest hiring data, which shows that a surprisingly high 303,000 jobs were added to the U.S. economy in March. Except the numbers are a little more tricky than most of the media coverage would have you believe. show more

Media Peddles Ludicrous Claim That ‘Border Crisis Might Be a Boon for the Economy.’

Semafor, an influential globalist media outlet founded by former BuzzFeed editor-in-chief Ben Smith and former Bloomberg chief executive Justin B. Smith, has suggested the “border crisis might be a boon for the economy,” citing a former economist at Joe Biden’s White House.

Semafor’s Jordan Weissmann suggested it is “a bit like Biden ran an accidental experiment to test the economic impact of open borders – and it turned out better than anyone could have hoped,” citing post-pandemic economic growth.

However, while Ernie Tedeschi’s assessment of immigration figures post-pandemic “includ[ed] immigrants with both legal and non-legal status,” it made no mention of the southern border whatsoever.

Tedeschi also made almost no mention of the impact of immigration on economic growth per capita — that is, whether or not immigration makes individual Americans better off, instead of just increasing the size of the economy overall by increasing the number of people in it.

Only once, buried in the footnotes to his article, does Tedeschi mention economic growth per capita, admitting it “is less affected by immigration in the short-run” and “may even be temporarily lower, depending on the types of immigrants arriving.”

Economic nationalists and even some leftist labor leaders, such as the late Cesar Chavez, have long argued mass immigration makes Americans worse off at the individual level, by increasing the supply of labor and undercutting local workers who might otherwise be able to command better pay and conditions.

The former Biden staffer also fails to consider that some of the countries he compares unfavorably to the U.S. in terms of post-pandemic economic growth have also hugely increased immigration.

The United Kingdom increased net immigration from 184,000 in 2019 to an unprecedented 745,000 by 2022, yet growth remained sluggish and productivity stagnant.

Source: Semafor.

 

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Semafor, an influential globalist media outlet founded by former BuzzFeed editor-in-chief Ben Smith and former Bloomberg chief executive Justin B. Smith, has suggested the "border crisis might be a boon for the economy," citing a former economist at Joe Biden's White House. show more
bidenomics

Almost *All* the ‘New Jobs’ in Biden’s Economy Are ‘Crappy’ Part Time Work.

The ‘hot’ March jobs report released by the U.S. Bureau of Labor Statistics is not as positive as the Biden government and corporate media are billing. It actually shows that in the past 12 months, the U.S. economy has seen the number of full-time jobs decline by 1.3 million while adding 1.09 million part-time positions.

March’s total non-farm payroll employment rose, with 303,000 jobs added to the economy last month. However, the monthly change in full-time employment decreased by 6,000, while part-time employment added 691,000 jobs.

GOVERNMENT AND PART-TIME JOBS.

One of the areas that did see full-time job growth was public sector employment. March saw an increase of 71,000 government jobs — outpacing the prior 12-month average of  54,000. Other sectors that added jobs last month — most known for their reliance on part-time employment — were the construction industry (39,000), leisure and hospitality (49,000), and retail (+18,000). The healthcare industry also saw significant growth, with 72,000 jobs added. However, again, this growth appears to be in areas of the industry reliant on part-time workers, including outpatient care (28,000), hospitals (27,000), and residential care facilities (18,000).

‘THEY’RE CRAPPY JOBS’.

The trend of adding part-time employment while losing full-time jobs has been ongoing for over a year now. This is likely what underpins voter anxiety about the U.S. economy. The National Pulse has previously reported that most jobs gained since President Joe Biden took office have been fueled by migrant labor.

On Wednesday, former Biden White House Chief of Staff, Ron Klain, acknowledged the disconnect between the Biden government’s claims regarding the U.S. economy and how American voters feel about it. “I understand that people say, hey, I’m glad you have all these good things going on in the economy, I’m glad that there are jobs,” Klain said in an interview with MSNBC, adding: “But people want to see that their own personal pocketbook is better off.”

A similar sentiment was expressed by former Obama White House advisor Van Jones in January regarding the job ‘growth’ in the Black community. “People keep telling me, ‘You’ve got great employment numbers in the Black community, and aren’t you happy?’ I’m like, yeah, but they’re crappy jobs,” Jones said. Unemployment among Black Americans rose in March a whole percentage point to 6.4 percent — a near two-year high.

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The 'hot' March jobs report released by the U.S. Bureau of Labor Statistics is not as positive as the Biden government and corporate media are billing. It actually shows that in the past 12 months, the U.S. economy has seen the number of full-time jobs decline by 1.3 million while adding 1.09 million part-time positions. show more

How is America ‘Adding Jobs’ While Unemployment Rises? Allow Us to Explain…

The massive number of immigrants who have crossed into the United States at the southern border over the last year may be the cause of diverging government data detailing job growth and the unemployment rate, according to The Wall Street Journal. While the U.S. economy has seen relatively strong job growth over the last year, the unemployment rate has also begun to creep up — leaving economists and labor market analysts stumped.

Monthly employment data released by the U.S. Bureau of Labor Statistics is based on two surveys that measure job growth and the unemployment rate using slightly different methodologies. The ‘establishment survey’ — used to determine how many jobs the economy has added in a given month — is based on data collected from over 100,000 businesses and government agencies. Meanwhile, the ‘household survey’ is based on a rotating poll of around 60,000 American households and is used to calculate the unemployment rate.

In the latter survey, the U.S. government uses the percentage of respondents who say they are working and applies that number to the Census Bureau‘s population data. The census data, however, has not accounted for the millions of immigrants who have entered the country over the past year. That discrepancy could cause the divergence in data and explain why the U.S. economy hasn’t overheated from the increased job growth.

David Mericle, chief U.S. economist at Goldman Sachs, told the Wall Street Journal that the increasing unemployment rate is likely driven by out-of-work immigrants, while the immigrants securing work are fueling the job market growth. The National Pulse previously reported in February that data produced by the Center for Immigration Studies shows almost the entirety of job growth over 2023 was driven by legal and illegal immigration. Meanwhile, native-born American workers saw a decline of 183,000 jobs.

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The massive number of immigrants who have crossed into the United States at the southern border over the last year may be the cause of diverging government data detailing job growth and the unemployment rate, according to The Wall Street Journal. While the U.S. economy has seen relatively strong job growth over the last year, the unemployment rate has also begun to creep up — leaving economists and labor market analysts stumped. show more
Bidenomics

Biden’s Ex-Chief of Staff Makes Stunning Inflation Admission.

Ron Klain, former Chief of Staff to President Joe Biden, acknowledged on Wednesday that the Biden government’s efforts to bring down prices for American consumers have not been successful. “Prices are still high, the price of gasoline is still high, other prices are still high, and people feel that pinch,” admitted Klain during an appearance on MSNBC’s “All In With Chris Hayes.” He added, “I think the President needs to make more progress on that.”

The remarks from the former White House Chief of Staff run contrary to claims made by the Biden government that inflation and prices are falling. President Biden has repeatedly asserted that his policies have reduced unemployment, cut consumer costs, and boosted the U.S. economy. According to polling data, however, American voters aren’t buying the President’s claims — which Klain acknowledged is a problem for Biden.

“I understand that people say, hey, I’m glad you have all these good things going on in the economy, I’m glad that there are jobs,” he told Hayes before adding: “But people want to see that their own personal pocketbook is better off.”

“People need more money in their pockets,” Klain concluded.

President Biden’s 2024 re-election campaign also appears to have already tacitly acknowledged the economic reality for many Americans isn’t as rosy as the White House insists. The campaign appears to have abandoned the term “Bidenomics” after featuring it on the campaign trail late last year.

Klain isn’t the only former or current Biden official to acknowledge that grocery, gasoline, and housing prices remain restrictively high for many Americans. In February, Biden’s own Treasury Secretary, Janet Yellen, told lawmakers on Capitol Hill that high prices are likely here to stay — while insisting it wasn’t the fault of “Bidenomics.”

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Ron Klain, former Chief of Staff to President Joe Biden, acknowledged on Wednesday that the Biden government's efforts to bring down prices for American consumers have not been successful. "Prices are still high, the price of gasoline is still high, other prices are still high, and people feel that pinch," admitted Klain during an appearance on MSNBC's "All In With Chris Hayes." He added, "I think the President needs to make more progress on that." show more

Biden Squandered America’s Emergency Oil Reserves. Now He Won’t Refill Them.

Joe Biden canceled plans to begin refilling our Strategic Petroleum Reserve (SPR), which he depleted to drive down gas prices ahead of the 2022 midterm elections.

What is the SPR? It’s our emergency oil reserve, meant for use during emergencies like war and natural disasters.

The details: Last month, the Biden regime’s Department of Energy said it planned to purchase three million barrels of oil to begin refilling the SPR. But yesterday, it abruptly canceled the purchase due to the rising price of oil.

Zoom out: When President Trump left office, the SPR had 638 million barrels of oil. Since taking over, Biden has drained 43 percent of the reserves, currently at 363 million barrels — a 40-year low.

Political motivations: In the months leading up to the 2022 midterm elections, gas prices spiked above $5 per gallon (national average). In response, Biden sold off 180 million barrels from our SPR to drive them down.

Tale of two presidents: While Biden has depleted our reserves, former President Trump proposed topping off the reserves before leaving office, with plans to add 77 million barrels while oil prices were low. But Congress refused to sign off on funding him.

Real talk: Today, the national average gas price is steadily creeping back up and currently sits at $3.56. If they continue to climb as we get closer to the 2024 presidential election, maybe Joe will go for broke and just sell off the rest of the SPR.

This article is adapted from the free ‘Wake Up Right’ newsletter, which you can subscribe to here.

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Joe Biden canceled plans to begin refilling our Strategic Petroleum Reserve (SPR), which he depleted to drive down gas prices ahead of the 2022 midterm elections. show more

Inflation Comes for Chocolate Prices.

As Easter weekend approaches, cocoa futures have reached record-breaking highs due to an escalating supply shortage. The crisis has left chocolate manufacturers desperately searching for new sources of cocoa beans.

Increasing demand saw cocoa futures in New York climb to as high as $10,047 per ton on Tuesday — marking an increase of approximately 4.1 percent on the session. The price of cocoa has significantly increased over the past week and is currently up 150 percent since the start of the year.

One of the key drivers of the cocoa bean shortage is the ongoing agricultural crisis in Ghana. A failure of cocoa crops has left the Ghana Cocoa Board unable to secure foreign financing to pay farmers due to a lack of beans, which are used as collateral.

The cocoa market was already grappling with weak harvests due to adverse weather conditions and crop diseases across West Africa, the globe’s primary cocoa-growing area. Due to the upsurge in cocoa pricing, consumers will likely pay higher prices for cocoa-based products, including chocolate Easter eggs and bunnies. Commodities market analysts also warn that by Easter 2025, the cost of chocolate may surge even higher if cocoa-tree diseases, inclement weather, and elevated sugar prices continue to exacerbate the deficit.

Elevated prices driven by inflation and supply-chain breakdowns continue to dog the Biden government as the Democrat President kicks off his re-election bid in earnest. Two key indices monitored by the Federal Reserve have shown an acceleration in the rate of inflation in the U.S. In February, Biden’s Treasury Secretary Janet Yellen admitted that high prices for American consumers are likely here to stay.

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As Easter weekend approaches, cocoa futures have reached record-breaking highs due to an escalating supply shortage. The crisis has left chocolate manufacturers desperately searching for new sources of cocoa beans. show more