U.S. Consumer Prices Meet Expectations With 7% Gain

The video discusses the year-over-year Consumer Price Index (CPI) changes, highlighting a half-percent rise in the headline CPI and a 6/10 increase in the core rate, pushing it to 5.5%. It emphasizes the importance of real average hourly earnings, which have decreased by 2.4% after accounting for inflation. This decline poses a political challenge for both Joe Biden and Jay Powell.

What was the percentage increase in the headline CPI for the month?

• 0.7%

• 1.0%

• 0.5%

• 0.3%

How much did the core rate increase, pushing the total to 5.5%?

• 6/10

• 4/10

• 5/10

• 7/10

What does the Bureau of Labor Statistics subtract from average hourly earnings to calculate real average hourly earnings?

• Unemployment rate

• Inflation

• Interest rates

• Taxes

By what percentage are real average hourly earnings currently down?

• 3.4%

• 1.4%

• 2.4%

• 4.4%

Which two figures are mentioned as being politically affected by the decline in real average hourly earnings?

• Donald Trump and Jerome Powell

• Joe Biden and Janet Yellen

• Kamala Harris and Jerome Powell

• Joe Biden and Jay Powell