Consumer Price Index up nearly 20% since Biden took office

The following is an excerpt from Yahoo! Finance.

Inflation cooled slightly in April, but even the slower price increases revealed this week still added to a tally that is perhaps the Biden campaign’s most intractable economic challenge in the 2024 campaign season.

Prices as measured by the seasonally adjusted Consumer Price Index (CPI) are now up over 19.4% in the three-plus years since Biden took office.

The cumulative price increase has been a GOP focus for months, and that continued Wednesday as new data showed the tally inching ever closer to a psychologically significant milestone of 20%.

The Trump campaign didn’t even wait for the threshold to be crossed Wednesday, with a statement from the campaign press secretary flatly stating that “overall prices are up 20%.”

President Biden himself reacted to the latest report with a statement calling costs his top economic priority while acknowledging that “even though we’ve made progress we have a lot more to do.”

Link to article here.

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