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Consumer price index up, White House says it’s a ‘high class problem’

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InflationFinal 336372560

The Consumer Price Index for September showed a 0.4% increase. Even then, CPI adjusted that increase for the season. Without the adjustment, prices have gone up 5.4%.

Together, the food and shelter indexes made up for more than half of the increase. First, the index for food rose 0.9%. Then, the index for food at home increasing 1.2%.

Former Chairman of Council of Economic Advisers Jason Furman tried to brush the latest inflation report under the rug Wednesday. “Most of the economic problems we’re facing (inflation, supply chains, etc.) are high class problems,” Furman tweeted. “We wouldn’t have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem.” Furman served under the Obama administration.

https://twitter.com/jasonfurman/status/1448442874828410881

Then, White House Chief of Staff shared Furman’s tweet. In response, podcast host Ben Shapiro pointed out the holes in that logic. “According to this administration, we must choose between massive inflation, shipping bottlenecks, and huge numbers of Americans dropping out of the workforce…or 10% unemployment,” Shapiro tweeted. “Good midterm messaging there.”

https://twitter.com/benshapiro/status/1448636487076093952

Since last September, the price index went up by 5.4%. Meanwhile, in the 12 months since August, it jumped by 5.3%.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Nation

White House Confirms It Is Looking Into Shutting Down Oil Pipeline Amid Fuel Crisis

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Gas Pipeline

The Biden administration confirmed that it is considering shutting down an oil pipeline in Michigan despite the ongoing fuel crisis in the country.

“Revoking the permits for the [Line 5] pipeline that delivers oil from western Canada across Wisconsin, the Great Lakes and Michigan and into Ontario, would please environmentalists who have urged the White House to block fossil fuel infrastructure, but it would aggravate a rift with Canada and could exacerbate a spike in energy prices that Republicans are already using as a political weapon,” Politico Pro reported. “Killing a pipeline while U.S. gasoline prices are the highest in years could be political poison for Biden, who has seen his approval rating crash in recent months.”

Fox News reporter Peter Doocy asked about the report during Monday’s press briefing, asking, “why is the administration now considering shutting down the Line 5 pipeline from Canada to Michigan?”

“So, Peter, that is inaccurate,” Deputy Press Secretary Karine Jean-Pierre claimed. “That is not right. So, any reporting indicating that some decision has been made, again, is not accurate. … So, again, I would — it is inaccurate what you just stated, but —”

“What’s inaccurate?” Doocy asked.

“The reporting about us wanting to shut down the Line 5,” Jean-Pierre said.

“I didn’t say ‘wanting.’  I said, is it being studied right now?  Is the administration studying the impact of shutting down the Line 5?”

“Yeah. Yes, we are. We are,” Jean-Pierre admitted.

 

The news comes as gas prices have reached their highest since 2014, when Biden was vice president, and are currently about 50% higher than they were when Biden entered office.

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