Biden said on Tuesday that the record inflation figures seen in March were largely due to a surge in the price of gasoline following Russia's invasion of Ukraine. Overall inflation? What a load of BS!
This Isn’t Putin’s Inflation
The price rises began long before Russia invaded Ukraine and will be hard to stop.
White House aides were out in force on Monday warning that Tuesday’s inflation report would be ugly and blaming it on Vladimir Putin. No doubt that beats blaming your own policies. But inflation didn’t wait to appear until the Ukraine invasion, and by now it will be hard to reduce.
The White House was right about the consumer-price index, which rose 1.2% in March, the highest monthly rise since the current inflation set in. The price rise in the last 12 months hit 8.5%, the fastest rate in 40 years.
Opinion | This Isn’t Putin’s Inflation
The price rises began long before Russia invaded Ukraine and will be hard to stop.
www.wsj.com