However, the consumer price index, soared last month by 9.1% from the year-earlier period. That blasted above the Dow Jones’ forecast of 8.8% and market the fastest pace for inflation going back to 1981.
A big driver for that increase is the increasing energy prices. West Texas Intermediate, the U.S. oil benchmark, climbed more than 28% in 2022, as the war between Ukraine and Russia raises concern over the already tight supply in the market.
According to a poll conducted by the Pew Research Center, President Joe Biden’s approval rating has slumped to 37% — with a majority of Americans saying his policies have made the economy worse. Pew also found that just 13% of Americans rate U.S. economic conditions as “excellent/good.”
