President Joe Biden blatantly ignored a reporter’s question Wednesday about whether or not Americans should be worried about rising prices.
Inflation climbed in April at its fastest pace in more than 12 years as the U.S. economic recovery accelerated, the Labor Department reported Wednesday.
The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.
“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%.
“Excluding volatile food and energy prices, the core CPI increased 3% from the same period in 2020 and 0.9% on a monthly basis. The respective estimates were 2.3% and 0.3%.”
In addition, 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.
Used car and truck prices, a common indicator of inflation, surged 21%, including a 10% increase in April alone.
Asked if Americans should be worried about the dramatic spike in consumer prices, President Joe Biden offered the following response:
How reassuring. One thing’s for sure, no one will ever call Joe Biden “The Great Communicator.”