With inflation soaring to the highest rate in four decades and the cost of goods still on the rise, Republicans lambasted the Biden administration and accused the Democratic party of using the Jan. 6 Committee hearings as distraction from the staggering numbers.
On Friday, the Labor Department released the May Consumer Price report, which revealed the consumer price index rose 1.0% last month – a massive jump from 0.3% in April.
Year-over-year, that translates into an 8.6% rate of inflation – much worse than anyone expected.
“Democrats are putting on yet another partisan show trial to distract from what’s really happening in America. And anyone who’s been to a store realizes the number is significantly higher,” Donald Trump Jr. tweeted in a now-deleted post.
“Inflation has now reached 8.6%—the highest figure in four decades. This administration is fully to blame for soaring prices, $5/gallon gas, and Americans panicked about what’s next for our economy,” Rep. Kat Cammack (R-Fla.) posted, blasting President Biden specifically. “You did it, Joe!”
“Inflation is the worst tax of them all. Hardworking Americans are feeling the pain of rising gas and grocery prices. They are getting left behind by Biden’s failed leadership,” Rep. Carlos Gimenez (R-Fla.) wrote.
“Inflation is a TAX on ALL Americans,” the official Twitter account for Republicans in the House of Representatives posted. “It has skyrocketed because of Joe Biden’s out-of-control government spending.”
It is unclear if the US has hit “peak inflation,” however the cost of goods and services have repeatedly hit record highs – particularly with gas prices.
As of Friday, the national average price for a gallon of gasoline stood at $4.98 across the US, according to AAA. However, in at least nineteen states the average is over $5 per gallon and in California alone the average cost sits at $6.42.