Biden Inflation Hits Fastest Pace Since 1981, at 8.5% Through March

Inflation hit 8.5 percent in the United States last month, the fastest 12-month pace since 1981, as a surge in gasoline prices tied to Russia’s invasion of Ukraine added to sharp increases coming from the collision of strong demand and stubborn pandemic-related supply shortages. Fuel prices jumped to record levels across much of the nation and grocery costs soared, the Labor Department said Tuesday in its monthly report on the Consumer Price Index. The price pressures have been painful for American households, especially those that have lower incomes and devote a big share of their budgets to necessities.

Again, while we knew that the Joe Biden presidency would be bad, no one could’ve predicted that it’d be this bad.

RELATED: Acceleration: Consumer price index hits highest annual inflation rate since 1981

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