Members of the mainstream media desperately tried to spin Wednesday’s brutal inflation report to protect Joe Biden’s economic agenda, with outlets like Bloomberg, the Washington Post, and Reuters basically claiming it’s ‘No Big Deal’ price indexes rose at the fastest rate since 2008.
U.S. April consumer prices jumped 0.8%, a larger than expected increase, amid booming demand from a reopening economy pic.twitter.com/uwntK1tS7f
— Reuters (@Reuters) May 12, 2021
U.S. consumer prices increased 4.2% in April, compared with a year ago. In 2020, before this increase, one in five Americans already reported struggling to afford food at some point in the past 12 months. https://t.co/LVhlcagmiz pic.twitter.com/K1GgDULwcj
— GallupNews (@GallupNews) May 12, 2021
So, the inflation report wasn't a nothingburger, but it was sort of a White Castle slider — not a very big deal.
— Paul Krugman (@paulkrugman) May 12, 2021
“So, the inflation report wasn’t a nothingburger, but it was sort of a White Castle slider — not a very big deal,” posted economist Paul Krugman.
The Consumer Price Index rose more than 4% in April, raising prices on everything from gasoline to groceries.
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