The clearest thing established by the White House's attempt to downplay the swift rise in inflation is that the Biden administration is increasingly out of touch with the American people. One of their principal arguments for not worrying about inflation was that a large portion of the rise in the Consumer Price Index was driven by just a few items related to the reopening and the big drive up in used car prices. And then, if you control for "base effects" and ignore food and energy, core inflation was just 3.1 percent, the Council of Economic Advisers tweeted this week.
Well, yes. We could do one better. If you ignore all the things that went up in price, there's no inflation at at all. Prices are falling if you ignore all those that held steady as well.
More @ Breitbart Business
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Bidenflation: Cost of Gas, Used Cars Up 45%, Car Rentals 88%
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