The government of Joe Biden warned that the inflation data recorded in March, which will be known this Tuesday, will be “extraordinarily high”, according to his predictions, blaming the Russian invasion of Ukraine for the fact. .
At a press conference, spokeswoman Jen Psaki repeatedly referred to high inflation as “Putin’s price hike,” yet prices were already skyrocketing in the United States before Russia began the invasion last month. February.
In November, December and January, year-on-year increases in the Consumer Price Index of 6.8%, 7% and 7.5%, respectively, were recorded.
The Biden government is visibly nervous about the cost that a historic rise in prices may have in the November legislative elections and that, moreover, according to most economists, does not seem to be going to subside immediately.
At the press conference, Psaki tried to link the high prices with the war and Putin’s name on several occasions , emphasizing that the general inflation figure will foreseeably be very different from the core inflation figure, since the conflict is affecting particular way to the price of energy and unprocessed food, as highlighted by Forbes.