Gov. Ron DeSantis of Florida lashed out at President Joe Biden on Tuesday over his policies as the Labor Department reported a dramatic spike in prices for just about everything last month.
The GOP governor said that Biden’s economic priorities and domestic legislative initiatives have led to the highest inflation since the early 1980s, as the Labor Department reported 8.5 percent inflation in March on Tuesday.
In a Twitter post, DeSantis said that Biden must be “content watching people suffer” because he is refusing to change course.
“Inflation is at a 40-year high of 8.5% due to federal policies of borrowing & printing money at unfathomable levels & bad energy policy, which is hurting Floridians,” DeSantis tweeted.
“Biden could unleash domestic energy production to provide relief. Instead, he is content watching people suffer,” he added.
Inflation is at a 40-year high of 8.5% due to federal policies of borrowing & printing money at unfathomable levels & bad energy policy, which is hurting Floridians.
Biden could unleash domestic energy production to provide relief. Instead, he is content watching people suffer.
— Ron DeSantis
The Consumer Price Index, or CPI, a measurement that covers a wide range of areas, increased 8.5 percent from 12 months ago. That’s above the already high Dow Jones estimate of 8.4 percent.
“Increases in the indexes for gasoline, shelter, and food were the largest contributors to the seasonally adjusted all items increase. The gasoline index rose 18.3 percent in March and accounted for over half of the all items monthly increase; other energy component indexes also increased. The food index rose 1.0 percent and the food at home index rose 1.5 percent,” the report stated.
Noted CNBC: “The data reflected price rises not seen in the U.S. since the stagflation days of the late 1970s and early ’80s. March’s headline reading in fact was the highest since December 1981. Core inflation was the hottest since August 1982.”
CNBC also noted that the spike in inflation continues to exceed earnings, despite increased wages nationwide: “Real earnings, despite rising 5.6% from a year ago, weren’t keeping pace with the cost of living. Real average hourly earnings posted a seasonally adjusted 0.8% decline for the month, according to a separate Bureau of Labor Statistics report.”