Former President Trump speaks as he arrives at Hartsfield-Jackson Atlanta International Airport in Georgia, April 10, 2024. (Reuters/Alyssa Pointer)
The consumer price index was higher than the 0.3% many economists had expected. Gas, rent, and car insurance helped push the overall inflation numbers higher.
The monthly rate nudged the year-over-year increase in inflation to 3.5%, which was also slightly over expectations.
The index has ticked higher than anticipated nearly every month since last autumn, which is unwelcome news for the president as he runs for re-election.
WHAT BATTLEGROUND STATE VOTERS TOLD FOX NEWS ABOUT THE ECONOMY
Economic growth – as measured by the gross domestic product – has been steady during Biden's tenure in the White House and new jobs have soared, keeping unemployment low.
But high prices have wounded the president politically and prevented Biden from getting much credit for the economy, which is a top issue on the minds of American voters.
(FOX Business)
The president has repeatedly blamed large corporations and congressional Republicans for the continued high prices.
The stock markets didn't appreciate the inflation report, and the major indexes were all down. Analysts predicted that the news would also delay any move by the Federal Reserve to cut interest rates.
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https://www.foxnews.com/politics/trump-blasts-biden-key-issue-impacting-voters-after-damaging-report-totally-lost-control