Biden’s inflation rate hits 9.1 percent
9.1 percent No one was expecting this morning’s inflation numbers to paint an especially rosy picture. A survey of economists predicted an 8.8 percent year-on-year rise in prices and the White House had been working overtime managing expectations. But the news was worse than expected, with a headline price rise of 9.1 percent in June over the same month last year, yet another forty-year-record. It’ll be hard for the White House to put a positive spin on these numbers, but Brian Deese, director of Biden’s National Economic Council, tried his best. “While today’s report shows unacceptably high inflation, energy made up 1/2 of the monthly increase & the report is backward looking,” he tweeted.