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For over 175 years, four purposes have defined Hillsdale's mission, learning character, faith and freedom.

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Thank you for listening and my sincere appreciation to our brothers and sisters at Hillsdale College.

Thank you for listening and my sincere appreciation to our brothers and sisters at Hillsdale College.

Hello, America. Mark Levin here our number 877-3813-811-877-3813-3811.

Well, the figures are coming in and they demonstrate what you already know. The economy is in free fall.

We have what even the media call a scorching hot inflationary period.

The worst inflation in 40 years. Up 9.1% in June. Even more than expected. The consumer price index. Then we're going to get the producer price index. That is the Hillsdale price.

The most so-called core prices which exclude more volatile measurements of food and energy. Most of you eat, don't you?

Most of you use energy, don't you? But they like to talk about this as core. Climb 5.9% from the previous year.

And they rose 0.7% almost 1% on a monthly basis. It's not 0.7% on a monthly basis. On a yearly basis is a massive increase. It's 10%.

Suggesting that underlying inflationary pressures remain strong and widespread.

Here's a breakdown of where Americans are seeing prices rise the fastest as they report. Energy prices rose 7.5% in June. That's month to month.

7.5% in June from the previous month. Energy prices as a whole are up 41.6% from last year. Gasoline on average costs 59.9% more than it did 1 year ago. 11.2% more than it did in May.

The average price for a gallon of gasoline is $4.63 nationwide. Down from a high of $5.01 in mid-June. But it's a big jump from just 1 year ago when the average price was $3.14.

And by the way the Heritage Foundation reports that the average family income, the average family has lost $6,800 to inflation across the board.

That's $6,800. The sharp rise in gas prices has become one of the most noticeable impacts of this very hot inflation on American daily lives.

In all fuel oil prices actually fell 1.2% on a monthly basis. But over the course of the year there's still up a stunning 98.5%. Not just all energy fuel.

Up 98.5% natural gas prices meanwhile surged 8.2% in June. That's month-to-month. 8.2%. The largest monthly increase in October 2005. There's no need for that. We had fracking, we had natural gas coming out of our various orifices. But now look.

Electricity also increased in June climbing month-to-month 1.7%. So 1.7% on a yearly basis, what is that? 20% a year?

Food prices have climbed 10.4% higher over the year, 1% over the month. The largest increase stem from various products may in June, dairy and related products up 1.4%. This is month-to-month, not year-to-year, in one month.

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