Inflation Rate Spiking Again As Crisis Worsens

Prices soared last month as the inflation crisis that began under President Biden has again begun to worsen, according to a new report from the Bureau of Labor Statistics. 

Prices “rose 0.6 percent in August on a seasonally adjusted basis, after increasing 0.2 percent in July,” the report said. “Over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment.” This is a massive increase from the 3.2 percent annual rate from last month. 

Largely driving the increase was rising gas prices, which are more than 50% higher than when Biden took office. Despite this, the president has continued his attack on fossil fuels. Just last week, Biden announced that his administration would be canceling oil and gas leases in Alaska. 

However, Biden responded to the news of rising inflation levels being driven by increased oil prices by claiming that he “remain[s] laser-focused on cutting energy costs, including by investing in clean energy to bolster our energy security.”

He also falsely claimed in his response that core inflation, which excludes food and energy prices, is “trending down.” Notably, core inflation is not trending down – it rose more quickly last month than it did the month before and has risen 4.3% over the last year.