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 does the Bureau of Labor Statistics do with the average hourly earnings numbers?

Who are the political figures mentioned that will face issues related to inflation?