Politics

Social Security Passes Another Increase to Combat Inflation

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Inflation Likely to Become Hot Button Topic in 2022 Election

A recent government report revealed that inflation accelerated in September just in time for the midterm election. According to a post at politico.com, the inflation rate increased the pressure on low-to-middle-income families beyond the usual daily concerns of making ends meet and being able to afford a few luxuries. The Federal Reserve Board continued its policy of raising interest rates to combat inflation by making it too expensive to borrow, but so far that approach hasn’t curbed inflation.

The Consumer Price Index and Inflation

The critical rundown of consumer prices in the Consumer Price Index rose 8.2% when compared to the rate of September of 2021, one year ago. Based strictly on monthly increases in prices, the index rose 0.4% in September of 2022, which sharply contrasted with July and August when prices rose just 0.1%

Interpreting the Index

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