The United States Department of Labor’s Bureau of Labor Statistics released the March Producer Price Index report and the numbers are ugly.
Americans for Limited Government President Rick Manning responded with the following statement: “If you think inflation is bad now at 8.5 percent, hold onto your hat. The producer price index went up 1.4 percent in March alone. If that rate were to continue for an entire year, it would be a 16.8 percent increase on the cost of providing goods and services before profit and other costs are included. The Biden presidency is leaving a mark on every American’s pocketbook unlike any president since Jimmy Carter in the late 1970s. Unfortunately, the only answer offered by this failed administration is to blame Putin. What Joe Biden doesn’t seem to understand is that when you set the inflation house on fire and keep pouring gasoline on it through federal spending schemes, anti-energy policies and failed foreign policies, you don’t get to blame the guy down the street for fanning those flames you allowed to consume most of the house.”