Claim: Putin’s war against Ukraine is the biggest driver of inflation, the White House said Monday.
With the biggest single driver of inflation being Putin’s war against Ukraine, @POTUS has taken action to blunt the impact of Putin’s Price Hike for families.
— The White House (@WhiteHouse) June 20, 2022
Verdict: False.
Inflation was high and rising long before the recent Russian invasion of Ukraine. The Consumer Price Index (CPI) increased 0.6 percent in May of 2021 after rising 0.8 percent in April., On an annual basis, prices were up 5.0 percent, the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.
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Core inflation, which excludes food and energy, was 3.8 percent over the previous 12 months,
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