February CPI Increases 7.9%, Highest in 40 Years, As White House Intensifies Spin To Blame Putin For Gas Increase
The Consumer Price Index (CPI) increased by 7.9%, which is the highest in 40 years.
Try as you might, Biden, but the majority of these stats came in before Russia enhanced its invasion of Ukraine.
Also, inflation has hit record highs every single month since last year.
Food and energy helped catapult the CPI to another record high. But removing food and energy, which are considered volatile, the CPI barely budges because everything went up:
The 12-month rates aren’t adjusted for seasonality. The CPI measures what consumers pay for goods and services, including groceries, clothes, restaurant meals, recreation and vehicles. Month to month, CPI rose a seasonally adjusted 0.8% in February.Gasoline prices were up a seasonally adjusted 6.6% from the prior month, for an unadjusted annual increase of 38%. Groceries were up 1.4% over the prior month for an annual rate of 8.6%. Housing-rental costs rose at a slower rate, up 4.7% over the year. Used-car prices declined slightly last month, pausing double-digit price increases over the past year.
The Russia-Ukraine war will not help, but the Biden administration cannot blame this on Putin.
We know Biden and his lackeys know they’re wrong because they have to keep explaining to everyone why high prices, especially gas, are Putin’s fault. Try to salvage brain cells reading this thread.
They just want to push their stupid green energy plans. Do you know what you need for electric cars? Natural gas and coal. They obviously don’t understand that.
Wind energy? You need petroleum to build those windmills. You need petroleum to make those solar panels. You need petroleum for everything you use. Petroleum is used to make the device used by the person who tweeted out that gross thread.
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