“The consistent upward trend in inflation is the latest sign that President Trump’s reckless trade war and the resulting economic uncertainty are wreaking havoc on family budgets and the American economy,” Natalie Baker, director of economic analysis at the Center for American Progress, said in a statement soon after the inflation report was issued.
The CPI report, taken together with a “lackluster” jobs report, “is a clear warning sign that the president’s policies are raising prices and squeezing consumers,” said Baker, calling it a “chilling reminder that the risk of stagflation is growing by the day.”
As inflation rises, cutbacks will be necessary for many consumers. But the time to start your pullback — to build an emergency fund — is now, not when things get worse.
More...
