via local21news:
That $371 more families are spending due to inflation is a Moody’s Analytics estimate and compares this December with December 2021.
Here’s some of how the increase breaks down:
- $72 more spent on food compared to December 2021
- $82 more spent on shelter
- $47 more spent on utilities
- $17 more spent on health care
- $15 more spent on entertainment
Moody’s Analytics noted core CPI, a measure of consumer prices that strips out volatile food and energy components, was 3.14% in the final quarter of 2022.
Biden Tech Bubble? Thousands Laid Off by Big Tech as President Brags of ‘Booming Economy’
Big Tech was a big backer of Joe Biden for president, but now the industry is feeling the impact of his economic policies, as giants like Meta and Microsoft have laid off thousands of employees in recent weeks.
The wave of terminations is undercutting the president’s optimistic message about the economy.
“My first two years in office were the two strongest years for job growth on record,” Biden said in a recent statement according to CNBC. “We still have more work to do, but we’re clearly moving in the right direction, and there’s more breathing room in store for American workers and families.”
Microsoft is the latest Big Tech titan to shed jobs, disclosing in a filing this week that it is laying off 10,000 employees, nearly 5% of its workforce, in what it calls a “response to macroeconomic conditions and changing customer priorities.”