According to April inflation data released by the Labor Department, prices remain stubbornly high for millions of Americans trying to afford everyday items; inflation increased 3.4% last month.
Adding insult to injury, President Biden continues to lie about what inflation was at when he took office.
Biden has said twice in the past week that he inherited a 9.0% inflation rate.
The reality: it was under 2.0%.
KUDLOW: Inflation is heating up AGAIN. Biden still has a problem. He keeps saying he "inherited" 9% inflation. Everyone in the world knows it's not true.
Trump's entire 4 years, the inflation rate was under 2%.
Crooked Joe Biden screwed up the BOOMING Trump economy on his own. pic.twitter.com/Am9iu8gEGK
— Trump War Room (@TrumpWarRoom) May 15, 2024
From Fox Business:
The Labor Department said Wednesday that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.3% in April from the previous month. Economists expected to see a 0.4% monthly increase. Prices climbed 3.4% from the same time last year, down from the 3.5% reading in March.
Another data point that measures underlying inflationary pressures within the economy also moderated last month. So-called core prices, which exclude the more volatile measurements of gasoline and food in order to better assess price growth trends, increased 0.3% in April. From the same time last year, the gauge climbed 3.6% – the lowest reading since 2021.
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