President Joe Biden said June inflation figures were "unacceptably high" but also said they were "out of date," given the recent drop in gasoline prices.
"Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June," Biden said in a statement.
"Those savings are providing important breathing room for American families," continued the statement, issued about one hour after the Labor Department’s report on consumer prices.
The consumer price index rose 9.1% from a year earlier, according to new Labor Department data. The spike, which exceeded predictions, is the largest increase since the end of 1981.
40 cents. lol
January 6!!!!!!!!!!!!!!