White House spokesman Jen Psaki answers questions at a daily briefing in Washington, DC on March 9, 2022. Saki answered various questions, mainly related to Russia’s invasion of Ukraine.
Win McNamie | Getty Images
Washington-The Biden administration has shown that prices paid by Americans soared in March as Russia’s attack on Ukraine soared energy prices in preparation for Tuesday’s major consumer inflation report.
White House spokesman Jen Psaki said on Monday, a previous report from the Ministry of Labor said: Showed that prices are rising at a dramatic rate February — Could not include most of the oil and gas cost surges caused by the Kremlin’s unprovoked aggression.
“We expect inflation in the consumer price index to rise abnormally in March due to Putin’s price hike,” Pusaki told reporters.
“We expect a big difference between core and headline inflation, which reflects the global turmoil in the energy and food markets,” she continued.
Tuesday’s Labor Statistics Bureau Issue a March update of the Consumer Price Index. Or CPI. The CPI is a departmental tool for measuring the inflation of baskets of goods and services that the average American buys. From eggs and milk to mobile phones and unleaded gasoline.
Economists will consider two versions of the CPI data. It is a so-called core CPI that excludes heading numbers that include all prices faced by consumers and often fluctuating food and energy price fluctuations.
The White House says it expects a wider than usual gap between headline and core measurements due to the extraordinary rise in gas prices that occurred last month. According to the AAA, the price of a gallon of regular unleaded gasoline reached a record high of $ 4.33 on March 11.
According to AAA, the price has since dropped to $ 4.11 a gallon.
“Sometimes gas prices were more than $ 1 above pre-invasion levels, so a rise in gas prices of about 25% would boost tomorrow’s inflation,” Pusaki said.
Data from the Ministry of Labor have shown for several months that Ronald Reagan has reached levels of no year-on-year price spikes since he was in the Oval Office. February reading showed Benchmark consumer price index rose 7.9% The highest level since January 1982 in the last 12 months.
The March report is Scheduled for Tuesday at 8:30 am (Eastern Time).
The spokesman is the president Joe Biden We are taking some steps to help reduce energy costs, including the transition to Releases about 1 million barrels of oil per day From the country’s strategic petroleum reserves.
On the last day of March, Biden blamed Russian President Vladimir Putin for the recent surge in energy costs.
“Many people are no longer buying Russian oil all over the world. I have banned Russian imported oil here in the United States. The Republicans and Democrats of Congress have sought and endorsed it. That’s right. It was, “Biden said on March 31st.
“But, as I said at the time, it would be costly,” the president added. “As Russia’s oil withdraws from the global market, oil supplies are declining and prices are rising. Currently, Putin’s price increases are hitting Americans.”
Stagnant legislation (a key element of the president’s buildback better agenda), backed by the White House and Democrats in Congress, could also help reduce childcare and health care costs, Pusaki added.