Bidenflation remains red hot. Producer prices soared 11% compared to last year, remaining at the highest levels on record. That marks 13 straight months of producer prices above 5% and 5 straight months at or above 10%.
That means there is still massive inflation “in the pipeline” and headed towards consumers. One year ago this week, the Biden administration insisted inflation was “temporary” and “transitory.”
ONE YEAR AGO TODAY: Jen Psaki dismisses rising inflation as "temporary" and "transitory." pic.twitter.com/1VhgCEDWgI
— RNC Research (@RNCResearch) May 11, 2022
Today’s data reaffirms that Bidenflation has been anything but “temporary” or “transitory.”
