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The consumer price index rose 8.3% in April from where it was a year ago; the cost of groceries, gas and rent are all on the rise. Economist has predicted a 8.1% rise, but it’s slightly worse than expected.
Consumer prices are close to a 40-year high.
“So-called core prices, which exclude more volatile measurements of food and energy, climbed 6.2% in April from the previous year, which was also more than Refinitiv [economists] expected. Core prices also picked up 0.6% on a monthly basis – double the 0.3% increase in March, suggesting that underlying inflationary pressures remain strong.”
On Tuesday, President Biden said that he thinks his policies are helping —and not causing inflation.
The House Republicans Twitter account shared a snapshot of rising prices, stating “Inflation is a TAX on all Americans.”
Inflation is a TAX on all Americans.
📈Gasoline is UP 43.6%
📈Used Cars are UP 22.7%
📈Meats/Fish/Eggs are UP 14.3%
📈New Cars are UP 13.2%
📈Electricity is UP 11.0%
📈Food at home is UP 10.8%
📈Transportation is UP 8.5%
📈Food away from home is UP 7.2%
— House Republicans (@HouseGOP) May 11, 2022
Conservative radio host Clay Travis blasted Biden, comparing him to former President Jimmy Carter:
“Inflation at 8.3%, higher than expected, again. Still essentially at forty year highs. Joe Biden is Jimmy Carter without the accomplishments.”
Inflation at 8.3%, higher than expected, again. Still essentially at forty year highs. Joe Biden is Jimmy Carter without the accomplishments.
— Clay Travis (@ClayTravis) May 11, 2022
This story is developing…
— Fox News (@FoxNews) May 11, 2022