As Spencer Hall over at Townhall reported earlier today, the latest inflation news is sure to yet again catch many economists as being “unexpected”:
Inflation for consumers rose 0.3 percent in April for a 8.3 percent increase in the last 12 months — hotter than the 8.1 percent consensus prediction — as the Biden administration struggles to get a handle on the runaway price increases spurred by the president’s policies.
According to the Bureau of Labor Statistics, “shelter, food, airline fares, and new vehicles were the largest contributors” to April’s hotter than expected increase. Excluding the food and energy indices, month-over-month inflation was up 0.6 percent, double the 0.3 percent increase reported for March.
The House Republicans also noted that inflation is out of control for most things:
Inflation is a TAX on all Americans.
📈Gasoline is UP 43.6%
📈Used Cars are UP 22.7%
📈Meats/Fish/Eggs are UP 14.3%
📈New Cars are UP 13.2%
📈Electricity is UP 11.0%
📈Food at home is UP 10.8%
📈Transportation is UP 8.5%
📈Food away from home is UP 7.2%— House Republicans (@HouseGOP) May 11, 2022
Combine that with continuing supply chain issues and the border mess this administration has created, the House GOP was reminded that their priorities appear to be out of whack after a vote yesterday:
70% of House Republicans voted to send $40 Billion to Ukraine last night https://t.co/WV15N3nWtn
— Jack Posobiec 🇺🇸 (@JackPosobiec) May 11, 2022
Another $40 billion has been approved for Ukraine, and that’s on top of the previous billions and billions of dollars in aid that has been sent:
BREAKING: House approves $40 Billion in additional aid to Ukraine; bill heads to Senate
— Breaking911 (@Breaking911) May 11, 2022
#Breaking The House Has Passed The $40 Billion Foreign Aid Package For Ukraine
368-57 pic.twitter.com/Ndv9k0ToXj
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) May 11, 2022
A few dozen Republicans voted no:
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) May 11, 2022
The Republicans are expected to make big gains in the November midterms but never underestimate the party’s ability to snatch defeat from the jaws of victory.
Good thing we aren’t in the middle of the worst inflation in 40 years https://t.co/s4gAaVSBCX
— Buck Sexton (@BuckSexton) May 11, 2022
Whew! Oh wait.
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