Despite the Upbeat Spin That It’s ‘Slowed,’ Inflation Is Still Crushing Americans – Opinion

Wednesday’s new CPI figures were released. They came in at 8.3 percent. CNN

The Consumer Price Index was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday, slightly higher than economists had predicted. It was a decrease from the 8.5% recorded in March, which had been the highest level in more than 40 years.

Take a look at the spin coming from CNN (and many other legacy media).

For the first time since August, US inflation saw a pause last month. The pace of price increases was slower than usual in the previous months.

I’m not so sure I’d characterize 8.3 percent as “a breather.” I’m with Jim Geraghty on this:

True, it’s not the 8.5 percent of March, but let’s take a look back over the current administration’s tenure, helpfully shared by Senator Ted Cruz’s Special Advisor for Communications, Steve Guest:

I’m also not sure that everyday Americans emptying out their wallets at the gas station and grocery store feel like they’re getting much of a breather. Yesterday, we reported that gas prices are at an all time high. In addition to critical shortages, even when staple items are available, they’re costing us significantly more.

Heather Long, Washington Post economist, provides an example:

We’re not just seeing them — we’re feeling them. And President Biden’s “assurances” to the contrary, we most certainly are focused on what this administration is — and isn’t — doing in response.

I can assure you that the American people would. All are welcomeA breather. If the.25% reduction in the RateInflation could translate into an ongoing downward trend in coming months. That would be great. I am skeptical at the moment.

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