President Joseph R. Biden (D)'s year-and-a-half troubled reign is at least consistent — every month brings another report of inflation.  Unfortunately, a pair of Bureau of Labor Statistics June 2022 reports, released Wednesday, June 13, are the same old, same old consistent repeat: inflation is up, up, and ever upper each month while real wages are down, down, and going downer.

Here, in their own dry words, compete with solid statistics, is the BLS's June 2022 Consumers Price Index report.  (Note: If you think you'll become too upset reading it, I conveniently bolded the lowlights.  You're welcome.) 

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment.

The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors. The energy index rose 7.5 percent over the month and contributed nearly half of the all items increase, with the gasoline index rising 11.2 percent and the other major component indexes also rising. The food index rose 1.0 percent in June, as did the food at home index.

The index for all items less food and energy rose 0.7 percent in June, after increasing 0.6 percent in the preceding two months. While almost all major component indexes increased over the month, the largest contributors were the indexes for shelter, used cars and trucks, medical care, motor vehicle insurance, and new vehicles. The indexes for motor vehicle repair, apparel, household furnishings and operations, and recreation also increased in June. Among the few major component indexes to decline in June were lodging away from home and airline fares.

The all items index increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981. The all items less food and energy index rose 5.9 percent over the last 12 months. The energy index rose 41.6 percent over the last year, the largest 12-month increase since the period ending April 1980. The food index increased 10.4 percent for the 12-months ending June, the largest 12-month increase since the period ending February 1981.

Wow!  Now, that is inflation!  But wait...there is more!  More bad news, that is.  While prices were zooming upwards, real wages were crashing downwards according to the other BLS report, Real Earnings, released yesterday.

All employees

Real average hourly earnings for all employees decreased 1.0 percent from May to June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from an increase of 0.3 percent in average hourly earnings combined with an increase of 1.3 percent in the Consumer Price Index for All Urban Consumers (CPI-U).

Real average weekly earnings decreased 1.0 percent over the month due to the change in real average hourly earnings combined with no change in the average workweek.

Real average hourly earnings decreased 3.6 percent, seasonally adjusted, from June 2021 to June 2022. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 4.4-percent decrease in real average weekly earnings over this period.

Production and nonsupervisory employees

Real average hourly earnings for production and nonsupervisory employees decreased 1.1 percent from May to June, seasonally adjusted. This result stems from a 0.5-percent increase in average hourly earnings combined with an increase of 1.5 percent in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

Real average weekly earnings decreased 1.0 percent over the month due to the change in real average hourly earnings being combined with no change to the average workweek.

From June 2021 to June 2022, real average hourly earnings decreased 3.1 percent, seasonally adjusted. The change in real average hourly earnings combined with a 0.9-percent decrease in the average workweek resulted in a 3.9-percent decrease in real average weekly earnings over this period.

The White House's gurgling press release response to the BLS reports clearly prove that Biden and his advisors are far, far removed from reality.

While today’s headline inflation reading is unacceptably high, it is also out-of-date.

[Uh, no, it is from June 2022 and it is now mid-July 2022.]

First, I will continue to do everything I can to bring down the price of gas. I will continue my historic release of oil from our strategic petroleum reserve.

[Uh, so it will go to China and other countries, as it has recently, rather than benefit U.S. consumers?  And why must you "continue my historic release of oil from our Strategic Petroleum Reserve," thereby depleting our dwindling reserves when the U.S. has a more than adequate domestic supply available if only maybe, perhaps, the U.S. would restore building the Keystone Pipeline, for example?]

More blah, blah, blah blame — Putin, Trump, oil companies, even gas station owners for high gasoline prices — from Biden and his reality-denying posse.

Oh, and not so by the way, if you forgot your history, Jimmy Carter (D) was the president from January 20, 1977 to January 20, 1981 during the last sky-high inflationary period referred to in BLS reports.  Are you beginning to see a pattern?

(Hopeful hint: Carter was a one-term president.)

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