America comes down hard on Biden as inflation rate reaches staggering 9.1 percent

President Joe Biden might be wishing he was back in his basement as America reacts to the news that inflation has officially hit the highest rate in nearly four decades.

The Consumer Price Index (CPI) shot up to 9.1% from a year ago, with the figure being an increase over the 8.6% increase seen in May and above the 8.8% Dow Jones estimate.

“CPI delivered another shock, and as painful as June’s higher number is, equally as bad is the broadening sources of inflation,” Robert Frick, corporate economist at Navy Federal Credit Union, told CNBC. “Though CPI’s spike is led by energy and food prices, which are largely global problems, prices continue to mount for domestic goods and services, from shelter to autos to apparel.”

In fact, the CPI soared above all estimates and shoppers are feeling the pain.

Twitter users laid out some statistics that helpfully break down all of the things you’re paying more for.

As a reminder, on Monday White House press secretary Karine Jean-Pierre claimed: “We have a strong economy.”

However, Americans aren’t apt to agree with KJP right now:

Shortly after landing in the Middle East on Wednesday, Biden issued a statement on the new inflation numbers. While he admitted that they were “unacceptably high,” he argued that the number is already “out-of-date” and things aren’t as bad as they seem.

“Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June,” Biden explained. “Those savings are providing important breathing room for American families. And, other commodities like wheat have fallen sharply since this report.”


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