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:

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:

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:

A few dozen Republicans voted no:

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.

Whew! Oh wait.



Elizabeth Warren hopes you’re stupid enough to believe that inflation’s happening because ‘giant corporations are price gouging & reaping record profits’

Joe Biden’s star economic adviser says inflation ‘is a consequence of having an effective strategy against the pandemic’