Inflation Haunts the Biden White House
The specter of inflation haunts the corridors of the West Wing, and the Biden administration’s every attempt to exorcise the poltergeist of rising prices only deepens the grip of its possession.
The most recent consumer price index (CPI) reports have show inflation accelerating at an alarming pace. After the annualized monthly rise in CPI fell below two percent in October and November, inflation surged higher and has been running much hotter each month since.
In December, inflation rose at an annualized rate of 2.8 percent. In January, this accelerated to 3.7 percent. In February, we hit 5.4 percent. In March, the latest figure available, the consumer price index climbed at an annualized rate of 4.6 percent.
Economists
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