Inflation Rate Since January 2021

Missoula MT

Description

What was inflation Jan 2021? Over the same period, the headline and core indexes averaged annualized rates of 2.5 percent and 2.1 percent, respectively. The 12-month trimmed mean inflation rate was 1.7 percent in January, down from a revised 1.8 percent in December. So it was at 1.7 percent in January 2021 when Biden took office and now this last June it was at 9.1 percent with a 40 year high. We were also energy independent in January 2021 with gas prices around $2.40 a gallon and now average gas prices are over $4 a gallon and this is part of the reason that our inflation started going up and everything cost a lot more now because of it. What was inflation before the Ukraine war? "Before the invasion, Wall Street was expecting the inflation rate to jump to 7.6-7.7%. So, the 7.9% inflation rate actually reported in February was boosted only slightly by Russia's invasion." However, he warns that the conflict in Ukraine will drive inflation much higher in the upcoming months. Since Biden was POTUS since January 2021 then this is all on Biden with nobody else to blame and the inflation was already high before the Ukraine war started, so you can't blame it on the war.