Inflation hit a new CPI high of 8.5% in March from a year ago, according to the latest Bureau of Labor Statistics release. The CPI, Consumer Price Index, measures a bevy of goods. The goods range from gasoline, and healthcare, to groceries, rents, and supply chain problems that Biden does not address.
Inflation jumped 1.2% in one month since January.
It’s a 41-year high. If we used the same CPI measures we used in 1981, it would be much higher, more like 17%.
“8.5% remains a 41 year high.…When we adjust earnings for inflation..they’re down 2.7%” – CNBC’s Rick Santelli on new #Bidenflation numbers outpacing Americans’ wages. pic.twitter.com/dxAYaOU4nU
— House Republicans (@HouseGOP) April 12, 2022
White House press secretary Jen Psaki said Monday that officials are prepared for heightened numbers. She’s trying to blame Putin.
“Because of the actions we’ve taken to address the Putin price hike, we are in a better place than we were last month,” Psaki said, indirectly referring to releasing additional oil from the Strategic Petroleum Reserve and calls for oil companies to avoid price gouging.
“But we expect March CPI headline inflation to be extraordinarily elevated, due to Putin’s price hike,” Psaki continued to lie, saying the impact of energy prices will largely be to blame and that the fault lies in part with Russian President Vladimir Putin’s invasion of Ukraine.
Russia invaded on February 24th. Inflation was on an endless path to increase due to Biden’s policies. The lockdowns, wild spending, destructive energy policies, and sanctions on Russia made inflation inevitable.
The Ukraine-Russia war will make it worse, largely because of the sanctions. The sanctions work on hurting the West but not Russia or Ukraine. Russia’s rouble is just fine. And they’re making hundreds of millions of dollars from their energy sales each day. Ukraine isn’t sanctioning Russia and they’re making hundreds of thousands from Russia daily.
