White House Spokesperson Jen Psaki made statements about inflation.
Psaki stated that February inflation did not reflect the sharp jump in oil prices due to Russia’s invasion of Ukraine.
“We expect March inflation to be extraordinarily high due to Putin’s price increases. We expect a large difference between core and headline inflation due to the global distress in energy and food prices and abnormal price increases,” she said.
Inflation in the USA has been at record high levels recently. February inflation climbed to 7.9 percent annually, the highest level since January 1982. Annual inflation is expected to rise to 8.4 percent in March, while monthly inflation is expected to climb from 0.8 percent to 1.2 percent.
