On Monday, White House press secretary Karine Jean-Pierre warned reporters of the “highly elevated” inflation numbers for June one day ahead of a highly anticipated inflation report in an attempt to damage control for an already troubled administration.
Karine Jean-Pierre expects upcoming inflation numbers from June to be "highly elevated." pic.twitter.com/vXL0t3F1v4
— Townhall.com (@townhallcom) July 11, 2022
White House press sec. Karine Jean-Pierre attempted to qualify the historic inflation numbers by focusing on what she called “core inflation,” which is the CPI reading that has volatile food and energy prices stripped out.
How incredibly convienent!
Meanwhile, gas prices rose above $5 per gallon in June for the first time in history, thanks to Biden’s energy policies and an ongoing military conflict in Ukraine. As of Tuesday, they had fallen to $4.66, which is high but a rapid decline from June levels.
Gas prices averaged $4.48 per gallon in May and shot up to an average of $4.92 last month, a nearly 10% increase. One official predicted that the spike would result in about a half-percentage-point bump in June’s month-over-month headline inflation.
Despite preparing reporters to brace for a high June inflation reading and highlighting the factors that might make the reading higher than current economic conditions, top White House officials are not yet ready to say that inflation has peaked.
One official said Tuesday that it’s “a little early” to declare that the U.S. is definitively at a peak in terms of energy prices, but noted that prices have declined over the past month — a welcome development.
Republicans have trounced on June’s inflation report, highlighting the solid proof of Biden’s ineffectual and destructive energy and spending policies that caused America to reach such a tumultuous economic state.
Joe Biden and the Democrats’ agenda:
Highest inflation in 40 years. #Bidenflation
— GOP (@GOP) July 13, 2022
The Biden administration has made every attempt to pass blame or obfuscate the economic realities most of us face on a daily basis. Officials have attempted to focus on how inflation is not just elevated in the United States.
Lest we forget, inflation was initially transitory according to the entire Biden administration.
🚨🚨 NEVER FORGET 🚨🚨
Joe Biden said almost a year ago that inflation was "temporary."
U.S. inflation just skyrocketed to a new 41-year high of 9.1%. https://t.co/ixCRVDnM9v
— House Republicans (@HouseGOP) July 13, 2022
When it became apparent that inflation was not in fact transitory, which most conservatives knew all along, the Biden administration coined a new phrase meant to more easily pass the blame for their economic failures.
Biden has used the phrase “Putin’s price hike” to describe the inflation phenomenon, a reference to the Russian leader Vladimir Putin.
In response to the scorching inflation, the Fed has been aggressively hiking interest rates. After its June meeting, when it was apparent that inflation had not peaked in May, the central bank jacked up interest rates by three-fourths of a percentage point, the most aggressive increase since 1994.
Author: Sebastian Hayworth