The inflation rate is rising to a new forty-year high at 7.9 percent annually, CBS Evening News ignored President Joe Biden ludicrously blaming Russia’s invasion of Ukraine for the runaway inflation numbers.
Instead of being focused on inflation numbers CBS Evening NewsThe skyrocketing cost of renting is the focus. “There is some bad news to report on the U.S. economy. Inflation among consumers rose 7.9 percent in the last year. It’s close to 40 years high. Prices for gas are increasing by 38% year-to-year. This does not include the latest spikes. And monthly rents are also skyrocketing, pricing some people right out of their homes” fill-in anchor Jericka Duncan announced at the top of the segment. This would be the only mention of Thursday’s inflation report.
Nancy Chen (Correspondent) took the reins and spoke to two rent-paying residents in southern Florida. “Apartment sticker shock is happening nationwide, soaring nearly 20 percent last year across the U.S. but in the Miami metro area, they’re up nearly 50 percent” Chen reported.
This entire segment was about the economic hardships experienced by two Florida women. There was no mention of Biden’s excuses for the inflation report today.
ABC’s World News Tonight however did address Biden’s attempt to avoid accountability for the inflation numbers. Rebecca Jarvis (chief business and economics correspondent) attacked Biden during her report to anchor David Muir.
For the past four months, inflation has risen at an unprecedented 40 percent rate. These are areas Americans can’t afford to pay for. You can also see an increase in energy consumption of 26 percent and 8 percent respectively for food. Shelter has increased by almost 5 percent. Keep in mind that this occurred in February, not a year ago. This is before Russia’s recent invasion of Ukraine and before the spike in gas prices. According to economists, this could have a ripple effect on the economy. It will affect everything from food prices to clothing costs.
More than one NBC Nightly News which had the best coverage of the inflation report, had business correspondent Jo Ling Kent interview a restaurant owner in Wyoming on his struggles to keep menu prices down:
KENT: Brian Bowe owns the Albany restaurant, it’s an 80-year-old institution in Cheyenne, Wyoming, in the mountain region where inflation is the highest in the U.S., at nearly 10 percent. According to him, his suppliers have increased their prices.
BOWE: Sometimes they will add fuel surcharges. It costs them money to transport the product from their warehouse. Then, we pay another fee to bring it to our location. It ultimately ends up being us or our guests.
Kent noted, like the ABC segment: “Biden has been dishonest in blaming Russia” for the high inflation figures.
Today’s President Biden replied, saying he was working hard to reduce prices. In large part, however, inflation is due to what he refers as Putin’s increase in price. However, prices rose last month nearly entirely because of Russia’s invasion of Ukraine. Since May, inflation has exceeded 5 percent. Republicans blast the President
But unlike the CBS & ABC segments, NBC did include Republican criticism of Biden by airing a soundbite of Wyoming Senator John Barrasso who noted that “energy prices have been going up dramatically from the day [Biden] took office.”
United Healthcare was able to prevent any criticism from CBS regarding Biden’s inflation stance. The following links provide additional information.
For the appropriate transcripts click on “expand”.
CBS Evening News
3/10/2022
Eastern, 6:40 p.m.JERICKA Duncan: The U.S. economic outlook is not good. Inflation among consumers rose 7.9 percent in the last year. It’s close to 40 years high. Prices for gas are increasing by 38% per annum, which does not include the latest spikes. People are being forced out their homes by skyrocketing monthly rents. CBS’s Nancy Chen reports in South Florida about the country’s highest rent rises.
NANCY CHEN: Jamie Wolf, a single parent raising her three children is hard enough. Her landlord has increased her rent by almost $1,000 per month. This is a 30% increase.
JAMIEWOLF: I was able to get 5 percent and 6 percent in the past.
CHEN: It’s possible, but not $1,000.
WOLF: It’s impossible to prepare for.
CHEN: National apartment sticker shock has occurred. They soared nearly 20% last year in the U.S., but they are up almost 50% in Miami, which forces Wolf, who lives in Boca Raton, to make some sacrifices.
WOLF – They have to be at aftercare for about an hour each day so I can get work done.
DIANA STANLEY, This is about survival.
CHEN: Diana Stanley runs the Lord’s Place in West Palm Beach which helps homeless people and those on the brink.
STANLEY: They’re scared. They are able to tap into all the resources they have.
CHEN: One of those who are seeking assistance. Ana didn’t wish to share her last name. She claims her rent increased by two-fold and that she has few other options.
ANA: To live comfortably, one must have somewhere to sleep.
CHEN: It is hard for me to see what this was like.
ANA: Yeah.
STANLEY: All of us are holding our breath, asking when this will end.
CHEN: It’s possible that the end is not in sight. Stanley fears it could quickly get even worse.
STANLEY – We will see a huge increase in the number of homeless people. This is a very worrying issue. I doubt we’ve even reached the end of the iceberg. That’s the thing that scares us all.
CHEN: High rents are causing many to feel left out.
ABC’s World News Tonight
3/10/2022
Eastern, 6:45:49DAVID MURIR: On the economy, and on the prices that you pay. The inflation rate is now at an all-time high. This is the worst inflation since 1982. The past year has seen consumer prices rise 7.9 percent. Prices of energy have risen by more than 25 percent. Rebecca Jarvis is our chief economics and business correspondent. Rebecca joins us now. We know that the new report we have tonight comes from last month. It does not contain any details about this Russian conflict.
REBECCA JARVIS – That’s correct, David. Inflation numbers have risen to new 40-year records for the fourth consecutive month. These are areas Americans can’t afford to pay for. You can also see an increase in energy consumption of 26 percent and 8 percent respectively for food. Shelter has increased by almost 5 percent. Keep in mind that this occurred in February, not a year ago. This is before Russia’s recent invasion of Ukraine and before the spike in gas prices. According to economists, this could have a ripple effect on the economy. It will affect everything from food prices to clothing costs. David?
NBC Nightly News
3/10/2022
Eastern, 7:12:28Now to the alarming new inflation numbers and the pain many Americans are experiencing. The last year saw consumer prices rise 7.9 percent, which is a 40-year record. Groceries saw a 8.6 percent increase, which is the highest annual rise since 1981. However, inflation is still far from the levels of 1981 and the early 1970s. Jo Ling Kent has many more.
JOLING KENT: Americans now face an even worse reality after struggling for months with high prices and shrinking budgets. According to a 40-year record, inflation grew 7.9 percent between last year and February. All prices are rising. Groceries rose 8.6 percent last year. Rent rising 4.7 percent. Gas prices are on the rise by 38 percent.
UNIDENTIFIED MASTER: These numbers are mind-blowing to me.
KENT: There have been price increases that are higher than ever before, such as furniture, food for babies, and baby food.
BRAIN BOWE – We do not want to increase prices. You can see the price rise creeping up.
KENT: Brian Bowe owns the Albany restaurant, it’s an 80-year-old institution in Cheyenne, Wyoming, in the mountain region where inflation is the highest in the U.S., at nearly 10 percent. According to him, his suppliers have increased their prices.
BOWE: Sometimes they will add fuel surcharges. It costs them money to transport the product from their warehouse. Then, we pay another fee to bring it to our location. It ultimately ends up being us or our guests.
KENT: Jean Olson is a California grocery store clerk.
JEAN OLSON – You live in constant panic. It’s because I worry that I won’t have enough work to pay the rent.
KENT: President Biden responded today, telling us he is working to lower prices. He blames inflation, in large part, on Putin’s recent price rise. Prices rose almost completely last month before Russia invaded Ukraine. Since May, inflation has exceeded 5 percent. Republicans mock the President.
JOHN BARRASSO, SENATOR: The average price of gas is more than $4 per gallon. What does Joe Biden think? Russia is to blame for all of it. The energy prices have gone up significantly since he was elected.
KENT
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