September 14, 2022 |
Members of the Biden administration continue to be “inflation deniers.”
Monthly U.S. consumer prices rose in August despite declining gas prices. Costs on rent and food continued to rise, the Labor Department reported Tuesday, driving the annual inflation rate to 8.3 percent last month, higher than the market forecast of 8.1 percent. Compared to July, the Consumer price Index rose one-tenth of a percentage point.
The White House put a contrarian spin on Tuesday’s bad news.
Wyoming Senator John Barrasso fact-checked the White House Press Secretary Karine Jean-Pierre. In a statement, Barrasso noted that inflation has risen 13.2 percent since Biden took office in January 2021.
“Nonstop price hikes under the Biden administration are a gut punch to the men and women of Wyoming who go to work every day.” Barrasso said families across the country are cutting back spending as they worry how to pay their bills.
Actual price increases by business sectors belie the White House spin. Inflation was widespread in August. new vehicles surged 10.1 percent, used cars and trucks jumped 7.8 percent, and apparel edged up 5.1 percent.
Transportation services soared 11.3 percent and medical care services swelled 5.6 percent. Within the food index, most items were up on both a year-over-year and month-over-month basis. Gas prices were the exception.
Even with gas prices lower, the U.S. is experiencing the worst inflation since the Jimmy Carter administration.