[NYPOST] On Wednesday, the latest Consumer Price Index report showed that inflation slowed slightly in April but prices continued to rise nearly 4% for the year.President Biden took his 23rd victory lap on this issue, proclaiming that "fighting inflation and lowering costs is my top economic priority."
But how should people judge a victory proclamation by a general that had pointlessly lost 20% of his army — the amount of purchasing power the dollar has declined since he took office?
Team Biden is pretending that the nation — and Biden’s re-election campaign — has made it out of the woods.
But the Labor Department reported on Tuesday that the producer price index is rising at a rate of 6% a year, a foreboding omen of future price hikes.
Biden has spawned the highest rate of food inflation since the Nixon administration but he scoffed when a CNN
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interviewer recently asked him about the 30% rise in grocery prices.