Prices Soar Last Month As Biden’s Inflation Crisis Continues

Price rose even further last month as the inflation crisis that began under President Biden continued, according to a new report from the Bureau of Labor Statistics.  

Prices “increased 0.3 percent in April on a seasonally adjusted basis, after rising 0.4 percent in March… Over the last 12 months, the all items index increased 3.4 percent before seasonal adjustment,” the report said.  

The 3.4% annual inflation rate is nearly double the Federal Reserve’s target rate of 2%, suggesting that interest rates will not be cut in the near future.  

Additionally, as noted by CNBC, “the Commerce Department reported that retail sales were flat on the month, compared with the estimate for a 0.4% increase. That figure is adjusted for seasonality but not inflation, suggesting consumers did not keep up with the pace of price increases.” 

In response to the news President Biden released a statement reiterating his claim that “Fighting inflation and lowering costs is my top economic priority.” Despite inflation reaching record high rates a year and a half after he entered office and remaining far above the Federal Reserve’s goal of 2% for nearly the entirety of his presidency, Biden went on to claim that his agenda would “give families breathing room” and lower prices. He then claimed that Republicans’ policies would “send inflation skyrocketing.”  

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