Biden flunks another inflation exam

You know things are bad when even the mainstream press is admitting that the latest inflation numbers “soared far above expectations last month” and that this is “wiping out pay gains.” But, according to President Joe Biden, Thursday’s report on inflation “shows some progress in the fight against higher prices.”

What progress? Inflation was up 8.2% in September, compared with the year before. And that’s on top of last September’s 6.2% increase.

Here’s another way to look at it.

In the 21 months since Biden took office, the Consumer Price Index has shot up 13.5%. That compares with 4% in the first 21 months of the Trump administration.