[Red State] The Consumer Price Index (CPI) numbers were just released and — in a bit of bad news for the Biden administration — they indicated inflation rose faster in April 2021 than it had in 12 years.The Consumer Price Index, which measures a basket of goods as well as energy and housing costs, rose 4.2% from a year earlier. A Dow Jones survey had expected a 3.6% increase. The month-to-month gain was 0.8%, against the expected 0.2%.
The increase in the annual headline CPI rate was the fastest since September 2008, while the monthly gain in core inflation was the largest since 1981.
Energy prices overall jumped 25% from a year earlier, including a 49.6% increase for gasoline and 37.3% for fuel oil. That came even though most energy categories saw a decline in April.
Gas consumers don’t need to see those numbers to know they’ve been paying more at the pump. Nor do people looking to buy a used car or a new home.
But that bad news didn’t stop White House Press Secretary Jen Psaki from telling Americans that the rising prices were simply a sign of the Biden administration’s "successful economic strategy" in a word salad answer to a reporter’s question Thursday.
It’s all about the data, man.