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White House Expects 'Extraordinary' Inflation Numbers To Be Released On Tuesday

 

CNBC: White House says it expects inflation to be ‘extraordinarily elevated’ in new report 

* The Biden administration is bracing for the Labor Department’s consumer price index report to show that inflation is “extraordinarily elevated.” 

* The consumer price index, or CPI, is one of Wall Street’s favorite ways to measure inflation. The CPI reading for March 2022 is due out Tuesday morning. 

* “We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” said White House press secretary Jen Psaki. 

* The February reading showed the benchmark index rose 7.9% over the last 12 months, the highest level since 1982. 

WASHINGTON — The Biden administration is bracing for Tuesday’s key consumer inflation report to show that the prices Americans pay soared in March, as Russia’s assault on Ukraine caused energy prices to jump. 

White House press secretary Jen Psaki said Monday that the Labor Department’s previous report — which showed prices rising at a dramatic rate in February — failed to include the majority of the jump in oil and gas costs caused by the Kremlin’s unprovoked invasion. 

“We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” Psaki told reporters.  

Read more ....  

WNU Editor: For the White House Press Secretary to bring this up in today's press briefing tells me they already know what the numbers will show. Will blaming Putin for these inflation numbers work? My gut tells me no .... Inflation is hammering the voters who will soon decide some key midterm races (CNBC).

Update: Even Democrats are starting to worry (see below):

White House Expects 'Extraordinary' Inflation Numbers To Be Released On Tuesday  

Get ready for a nasty inflation report -- Axios  

White House braces for ‘extraordinarily elevated’ inflation numbers -- The Hill  

Axios, Bloomberg, others forecast 'nasty' March inflation report: 'Number likely to be ugly' -- FOX News  

White House warns of ‘extraordinarily elevated’ March inflation rate -- NYPost



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