WHAT A JOKE: Morning Nets Find ‘Silver Lining’ in Devastating 9.1% Inflation Spike

A few morning show hosts supposedly found the “silver lining” in a devastating report showing that inflation skyrocketed in June for the fastest increase since 1981. 

The Bureau of Labor Statistics’s (BLS) July 13 report revealed that inflation soared by 9.1 percent year-over-year, beating estimates of an 8.8-percent increase, according to a Refinitiv estimate cited by CNN. But that didn’t stop the morning news propagandists from spinning the inflation spike as holding some good news for the American public. Both ABC’s Good Morning America and NBC’s Today’s Third HourWe tried to highlight the positive aspects of the inflation news. CBS MorningsThe inflation report was completely ignored by the EC. 

ABC host Robin Roberts claimed that a slight decrease in gas prices was a “bit of a silver lining” amid the inflation surge on Good Morning America. NBC host Tom Costello similarly attempted to paint lipstick on the inflationary pig by pointing to a slight decrease in wheat and corn prices on NBC’s Today’s Third Hour. 

“Mister Costello, how bad is it?” Today’s Third HourCraig Melvin interviewed Costello to discuss the record-setting high rates of inflation. “It’s bad,” Costello responded. “We were expecting 8.8 percent. So this is hotter than many people had expected.” 

But Costello soon launched into full on spin mode: “Even though there are now signs that oil and gas prices are coming down, it has not yet filtered into the inflation report,” he said. ”Let’s just pause for a moment and think about that. If you’ve gone to your gas station in the last few weeks, you know prices are starting to come down. You may have noticed that corn prices are beginning to drop. It’s okay.” [Emphasis added].

The BLS report shows that gas prices increased by 59.9% over the past 12 months. 

“This inflation report today was taken in June, and may not be calculating in that decline in commodity prices,” Costello added. 

In all likelihood, that still won’t provide much comfort to American families, who are on average paying $450 more per month for the same goods as last year due to inflation, according to the American Enterprise Institute. And that wasn’t the only barrier facing down American families this summer.

The BLS report shows that rent prices have risen at their highest level since 1986. 

ABC followed in NBC’s footsteps in downplaying the inflation spike yet at the same time emphasizing some so-called “silver lining” in the details of the inflation report. Whit Johnson of ABC reported that gas prices were $4.63 per gallon, an increase of $1.48 over a year. “But GasBuddy is predicting that those prices will start to come down in the coming months,” Johnson said. Roberts summed up Johnson’s biased reporting on inflation. “Bit of a silver lining there,” she said. 

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