Experts Warn Inflation Ready To Surge Yet Again

The hallmark of the Biden administration — besides corruption scandals — is the devastating inflation that continuously ripped through the economy and devastated American families. Now, according to one expert, it is returning with a vengeance.

Breitbart Economics Editor John Carney explained the current situation to Fox Business host Larry Kudlow Tuesday. 

He noted the recent surge in oil and housing costs as a warning that skyrocketing prices are making a comeback. Part of the reason is China.

Cheaper oil, according to Carney, is due to China’s sagging economy as it emerges from its draconian COVID lockdowns. Beijing is set to dump a massive stimulus into its economy, which will send oil skyward.

And not just oil.

Home prices in the U.S. have surged for four months in a row, and shelter costs make up a full 40% of the Consumer Price Index. As Carney noted, these are warning signs that inflation is gaining momentum and “is going to disrupt everybody’s narrative.

Even as Democrats crow about the inflation rate finally falling, the expert cautioned that there is little on which to base the belief that it will continue to slow.

Biden’s economy, unlike what the White House is preaching, continues to eat away at Americans’ paychecks through price increases.

According to the Biden administration’s own figures, workers in June saw their wages shrink more than $4.50 an hour when inflation was factored in. And core inflation, which excludes volatile food and energy, jumped 4.8%.

The annual inflation rate came in at 3% in June, which the White House crowed was evidence that “Bidenomics” is helping taxpayers. But figures that put that number in perspective are readily available.

For example, in the last year before Biden was inaugurated, inflation totaled a paltry 1.4%. But under the Democrat, the nation suffered skyrocketing prices not seen in four decades — so much so that Trump’s annual inflation was reached in only a single month under Biden.

Since he entered the Oval Office, workers now pay an average inflation tax of 13.5%. 

Inflation is a silent killer that never sleeps. Instead, it eats away at every paycheck, every dollar saved or invested, and makes hard workers poorer. And as Carney told Fox Business, it is far from over.