Inflation Expected to Continue to Rise
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Inflation Expected to Continue to Rise
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Inflation makes everything more expensive for Americans and severely weakens our economy.
From Fox Business. Soaring U.S. inflation is expected to continue its surge with no sign of relief in sight, as the costs of consumer goods like gasoline and household items climb to new heights.
The Labor Department’s consumer price index jumped 7.5% in January from a year before, hitting a level not seen in four decades. But even before Russia invaded Ukraine, experts were predicting that February’s numbers, due out Thursday, would be higher….
The average price for a gallon of gas in the U.S. hit consecutive all-time highs on Monday, Tuesday, and Wednesday, when it reached $4.252 according to data from AAA. Meanwhile, President Biden warned earlier this week when he banned imports of Russian oil and gas that energy prices would continue to go up….
While Americans have seen wage gains in recent months with average hourly earnings climbing 5.1% year-over-year in February, the pay boosts have been erased by the higher rate of inflation.
The Federal Reserve has signaled that it will move to raise interest rates at its meeting next week for the first time in two years in an effort to combat surging prices, but Chairman Jerome Powell has said that uncertainty brought on by the Russia-Ukraine war could impact the central bank’s plans.
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(Excerpt from Fox Business. Photo Credit: sippakorn yamkasikorn on Unsplash)
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Father, may our nation and !eaders turn back to You and lay down our sinful, selfish ways. May we, once again, be an undeniably Christian nation. We pray for wisdom for our elected officials. May they have the courage from You to be honest and to work through problems facing our nation and be willing to support Americans with honesty and integrity.
“If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.” ~~ 2 Chronicles 7:14 ~~
Lord we come before you in Jesus’ name forgive us for the sin of abortion. Lord we ask that You would bring an end to this ungodly procedure and have mercy on those who have participated in this procedure. Amen
Father, we pray you would heal or nation. May we as your people desire to announce all things and trust you during this difficult time. We declare you are reviving or nation to serve you as only God there is.