The Biden administration is seeking to reassure Americans regarding rising inflation, after the Labor Department’s Consumer Price Index (CPI) report showed prices rising at their …
The Biden administration is seeking to reassure Americans regarding rising inflation, after the Labor Department’s Consumer Price Index (CPI) report showed prices rising at their fastest annual pace in nearly 40 years. The White House is facing criticism after the report showed that consumer prices rose 6.8 percent in the year through November, the sharpest annual increase since 1982, and an acceleration compared to October’s 6.2 percent rate of inflation. This has given President Joe Biden ’s Republican opponents a further reason to criticize his administration’s massive spending agenda, which has weighed on his low approval ratings in recent months. “Inflation has jumped to 6.8 percent and the Biden–Harris White House still continues to push policies that will drive up inflation even higher,” Sen. Ted Cruz (R-Texas) wrote in a tweet. “Prices keep rising and all Democrats want to do is spend trillions more in taxpayer money. Democrats created the inflation crisis crushing American families and are too incompetent to fix it,” said Michael McAdams, National Republican Congressional Committee communications director. “Today’s numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic—prices are rising.
