Inflation in the United States reached a new 40-year high of 7.9% in February in another grim signal for consumers
Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Psaki says Biden ‘can’t do much’ about skyrocketing gas prices, again blames Putin and says record 7.9% inflation will be ‘temporary’ after President said it would be ‘short-term’ last spring
- White House press secretary Jen Psaki doubled down on blaming Vladimir Putin for rising inflation in the U.S.
- Came after Biden blamed Vladimir Putin, thought the latest report does not capture the full impact of Russia’s invasion
- US Consumer Price Index rose 7.9 percent in February from a year ago, the most since June 1982
- Soaring prices are affecting food, clothing, shelter and other basic necessities for regular Americans
- Gasoline has continued to skyrocket since the February report, suggesting inflation will only get worse
- It is adding to political pressure on Biden and congressional Democrats ahead of the key midterms
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