After the Biden administration saw it’s first-ever jobs report that wasn’t a complete disaster last week, they’re seeing an inflation report…. that’s once again a complete disaster.The narrative has cycled from inflation not existing, to being something transitory, to MSNBC going as far as to argue that it’s actually a good thing. There’s seemingly  “stages of grief” for media narratives when it comes to protecting their own.
And their only choice at this point is to spin, because it’s clear that inflation isn’t going anywhere.

According to CNBC:
Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago. That compared with the 5.9% Dow Jones estimate.
On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.
Stripping out volatile food and energy prices, so-called core CPI was up 0.6% against the estimate of 0.4%. An …