extraordinarily elevated inflation data

White House Braces for ‘Extraordinarily Elevated’ Inflation Data, Guess Who Psaki Blames For It?

On Monday White House press secretary warned that the White House is expecting “extraordinarily elevated” inflation data when the monthly Consumer Price Index (CPI) is released for March on Tuesday.

Experts predict it will show 8.4% inflation over the past year, according to a report from Axios. It should come as no surprise that Psaki laid the blame on Russian President Vladimir Putin.

“Because of the actions were taken to address the ‘Putin Price Hike,’ we are in a better place than we were last month, but we expect March … CPI headline inflation to be extraordinarily elevated due to ‘Putin’s Price Hike’, and we expect a large difference between core and headline inflation, reflecting the global disruptions in energy and food markets,” Psaki said.

The Biden administration even gave the inflation a cute little nickname: “Putin Price Hike”

“Just as an example, since President Putin’s military buildup accelerated in January, average gas prices are up more than 80 cents. Most of the increase occurred in the month of March, and at times gas prices were more than one dollar above pre-invasions levels,” Psaki said on Monday.

“So, that roughly 25% increase in gas prices will drive tomorrow’s inflation reading, and certainly it’s not a surprise to us, but we certainly think it will be reflected,” Psaki added.

Clearly, this inflation has a lot more to do with Democratic leadership locking the country down than Russian President Vladimir Putin.

As a matter of fact, during this exchange Psaki confirms they’ve been talking about inflation long before the invasion.

That was quite the self-own, wasn’t it?