Today, the U.S. Labor Department reported that inflation rose by the highest amount since 2008. The Consumer Price Index rose 4.2 percent in April over last year and nearly one percent over March 2021. The rising cost of goods and services exceeded what was expected by independent economists. The price of gasoline, which is not included in the inflation report, is also rising as AAA reported “the national average eclipsing $3 a gallon for the first time since November 2014.”
The inflation report comes one day after the Labor Department announced there are 8.1 million job openings in America. That figure is the highest ever recorded by the department.
“When President Biden and Democrats spent $2 trillion in March, they pushed out extra money to people who are not working even though there are millions of job openings and gave billions to bail out states and cities which now have surpluses. Their $2 trillion in spending is distorting the economy, hurting small businesses, and making hardworking Michigan residents pay more for the products they use every day,” said Congressman John Moolenaar.
“President Biden’s anti-pipeline stance is also contributing to the rise in gas prices and as we have seen this week pipelines are vital to ensuring Americans have a affordable, reliable energy. I will be working to stop these harmful economic policies so more Americans can go back to work, small businesses can grow and, hopefully, prices for everyday goods will be more stable.”
Original source can be found here.
