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Following the record 7.5% high for January, the U.S. Labor Department\u2019s Consumer Price Index (CPI) data shows February\u2019s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming the inflation spike on Russia\u2019s invasion, as he previously warned \u201cthere will be costs at home.\u201d<\/strong><\/p>\n In the U.S., there\u2019s been a significant increase in the prices of goods and services in the American economy every single month. American citizens continue to see a decrease in purchasing power when leveraging U.S. dollars for a number of goods and services. The Consumer Price Index (CPI) is a government-crafted metric that records a market basket of consumer goods and services Americans purchase on a regular basis. The data is published on a monthly basis by the U.S. Labor Department, an entity that is responsible for governing occupational safety and publishing economic statistics.<\/p>\n Last month, Bitcoin.com News reported on the CPI\u2019s jump to 7.5% and this month\u2019s CPI numbers<\/a> continue to highlight a dismal outlook. \u201cThe Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in February on a seasonally adjusted basis after rising 0.6 percent in January,\u201d the U.S. Bureau of Labor Statistics reported<\/a>. \u201cOver the last 12 months, the all items index increased 7.9 percent before seasonal adjustment.\u201d After the Bureau of Labor published the report, all four major equities indexes (Dow, Nasdaq, NYSE, S&P 500) shuddered.<\/p>\n Most of the stock market rout on Thursday has been blamed on the Russia-Ukraine war. Despite the fact that data shows<\/a> inflation was broadening into a myriad of sectors across the U.S. well before the war<\/a>, president Joe Biden and his administration are blaming Vladimir Putin.<\/p>\n \u201cToday\u2019s inflation report is a reminder that Americans\u2019 budgets are being stretched by price increases and families are starting to feel the impacts of Putin\u2019s price hike,\u201d Biden explained<\/a> on Thursday. \u201cA large contributor to inflation this month was an increase in gas and energy prices as markets reacted to Putin\u2019s aggressive actions,\u201d the U.S. president added.<\/p>\n Meanwhile, gold bug and economist Peter Schiff criticized<\/a> the method the U.S. Labor Department uses to calculate the CPI. \u201cConsumer prices jumped .8% in Feb, bringing the YOY rise to 7.9%, the highest since Jan. 1982,\u201d Schiff tweeted. \u201cIf the CPI still measured prices the same way it did then the YOY gain would be over 15%, higher inflation than any year during the 1970s and this stagflation decade has just started.\u201d<\/p>\n Doocy to Psaki: “Are you guys going to start blaming Putin for everything until the midterms?” pic.twitter.com\/OSWwOBWZLc<\/a><\/p>\n \u2014 The Post Millennial (@TPostMillennial) March 10, 2022<\/a><\/p>\n<\/blockquote>\n Additionally, the Biden\u2019s administration blame game toward Putin has been denounced by a number of analysts and journalists. White House correspondent for Fox News, Peter Doocy, asked the 34th White House press secretary Jen Psaki how long the administration planned to blame Russia for everything? \u201cAre you guys going to start blaming Putin for everything until midterms?\u201d Doocy asked<\/a> the press secretary.<\/p>\n Biden\u2019s statements concerning the latest inflation report, explain that he warned about Russia\u2019s invasion putting pressure on the American economy. \u201cAs I have said from the start, there will be costs at home as we impose crippling sanctions in response to Putin\u2019s unprovoked war,\u201d Biden remarked on Thursday.<\/p>\n What do you think about the rising inflation in the U.S. and the Biden administration blaming the Russia-Ukraine war and \u201cPutin\u2019s aggressive actions?\u201d Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\nFebruary\u2019s CPI Data Jumps to 7.9%, US Stocks Suffer<\/h2>\n
Biden Blames Russia, Calls Inflation Spike \u2018Putin\u2019s Price Hike\u2019<\/h2>\n
Doocy Asks Psaki: \u2018Are You Guys Going to Start Blaming Putin for Everything Until Midterms?\u2019<\/h2>\n
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