Here We Go, White House Warns of Extraordinarily Elevated Inflation Data to Be Released Tomorrow

Here We Go, White House Warns of Extraordinarily Elevated Inflation Data to Be Released Tomorrow

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She did it again. Just like in February, when Psaki (seemingly out of the blue) gave a weird proactive statement about bad economic data that was going to be released the following day {LINK}. Earlier this afternoon White House spokesperson Jen Psaki gives another proactive justification for even worse inflation data that is about to be released from the Bureau of Labor and Statistics tomorrow.

In this brief soundbite, Psaki says the March inflation data that is going to be released tomorrow is going to show “Putin’s price hikes” on U.S. consumers. However, even within the framework of her false justification, she attempts to blame Putin for gas price increases in January, when the Russian military operations did not start until February 24th. The inflation news is going to be really bad tomorrow. How bad? WATCH:vidéo

None of this will come as a surprise to CTH readers. We noted in the February inflation data (released in March), that things were going to be much worse in the April release. The reason was simple, the massive gas price increases were not yet matriculated in the February data, and the massive food inflation was not yet captured by the USDA component. All of that preceded Russia’s invasion of Ukraine. None of it has anything to do with Vladimir Putin.

The inflation data that will be released tomorrow is the first visible data assembly of the second inflation wave now upon us. Remember, inflation data lags behind the reality of the price increases. What the BLS will show tomorrow is the price results from the last half of Feb through the half of the month of March. It will likely show the largest single month inflation increase in modern history.

How bad is the data going to be?
read...and comm.

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