That’s what you’re going with, Joe?
After the Labor Department broke the news Wednesday morning that inflation surged 9.1% in June, exceeding economists’ expectations, Biden’s team fired off a response: “President Biden Statement on CPI Inflation in June.”
“While today’s headline inflation reading is unacceptably high, it is also out-of-date,” the statement starts, seemingly denying economic realities. “Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June.”
“Indeed, gas prices fell to $4.63 per gallon as of Wednesday, according to AAA,” The Daily Wire reported. “Yet national average gas prices in early June surpassed $5.00 per gallon — a reality reflected in the most recent inflation report. Gas prices were $2.38 per gallon ahead of Biden’s inauguration and $3.53 ahead of the Russian invasion of Ukraine, according to the U.S. Energy Information Administration.”
“Inflation is our most pressing economic challenge,” the statement continued. “It is hitting almost every country in the world. It is little comfort to Americans to know that inflation is also high in Europe, and higher in many countries there than in America. But it is a reminder that all major economies are battling this COVID-related challenge, made worse by Putin’s unconscionable aggression.”
Last time, it was Putin’s price hike. This time, it’s an out-of-date report.
Rep. Jim Jordan (R-OH) tweeted out a quick video to remind Americans the last time inflation was this high.
“I’m coming for your record” pic.twitter.com/oIP8PHFG2H
— Select Committee on the Economy (@EconomyGOP) July 13, 2022
Continue reading over at The Daily Wire:
— Daily Wire (@realDailyWire) July 13, 2022