White House Press Secretary Jen Psaki has admitted that the Biden administration’s monthly inflation data will be “extraordinarily elevated.”
This comes after inflation hit a 40-year high of 7.9 percent last month.
Speaking Monday, Psaki started off by trying to blame Vladimir Putin for the skyrocketing inflation ahead of Tuesday’s release of the new data.
“Because of the actions we’ve taken to address the Putin price hike, we are in a better place than we were last month,” she said.
“But we expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike, and we expect a large difference between core and headline inflation reflecting the global disruptions in energy and food markets.”
NPR reporter Asma Khalid wasn’t buying the spin of “Putin’s price hike,” saying she just returned from Michigan where people were telling her “they feel that inflation has predated this war.”
Psaki said: “We’ve talked about inflation long before there was an invasion.
“But we also know that factually, if you look at the data, the average gas prices are up 80 cents to $1.
“It’s about a 25% — we’ve seen — increase in gas prices since the start of this invasion.
“And we know energy prices is a big driver of the inflation data.
“I will say that anytime there’s heightened monthly data or inflation reporting or numbers, it is a reminder to us, our allies on the Hill, and hopefully to many of the American people that we need to do more to reduce costs for the American people,” Psaki said.
“We need to do more to reduce costs for the American people.”
White House Press Secretary Jen Psaki says the White House expects the Consumer Price Index report on inflation for March “to be extraordinarily elevated due to Putin’s price hike.” pic.twitter.com/MsImm8189U
— CBS News (@CBSNews) April 11, 2022
NOW – White House warns of “extraordinarily elevated” inflation data.pic.twitter.com/3ZDqpHFgoc
— Disclose.tv (@disclosetv) April 11, 2022