It has been more than 40 years since inflation was this bad, 40 years.

The lead starts right now.

Food, gas, rent, electricity, all seeing stunning price increases.

Families forced to choose between buying groceries or having enough gas to get to work.

The pain is real and the jaw dropping numbers today prove it.

Then, the families in Uvalde, Texas understandably furious and frustrated that they did not

get to see the hallways or railings video before the rest of the world did.

And even more so, about the 77 minutes of inaction that the video shows.

Plus, in some big cities, there will no longer be a Starbucks on every corner.

The coffee giant is closing several locations, but not because of slow sales.

So is this about worker safety or is it about unionization?

Welcome to the lead on JTAP where we start today with our money lead and horrible news

for your wallet.

New data today released by the Biden administration shows inflation surging to 9.1%.

That is the highest level in more than 40 years and it means the prices we pay overall

are 9.1% higher than they were at this time last year.

So unless you have benefited from an unlikely 10% race since then, you now have less money

in your pocket than you did a year ago.

Much of the increase is driven by gas prices, which we should note have fallen in recent

weeks, but they remain insanely high, up nearly 60% in this report, and the increases

are felt across a range of categories.

Prices on groceries are up more than 10%, housing nearly 6%.

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