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Joe Biden is pulling out all the stops to make his failing economy sound just a bit better. His latest move is to dump soaring coffee prices from the Consumer Price Index (CPI) because it is just one more metric that is driving his data to look bad.
By dumping the soaring coffee prices, Biden’s Department of Labor can make his economic data sound better.
But coffee is a major part of what most Americans buy each month — and often daily — in their day-to-day lives. Dumping coffee is removing a key expense that 73 percent of the country spend.
Grocery prices have soared 30 percent. Gas prices are also soaring.
When CNN asked Biden about this, he disgorged a major lie:
CNN: "Grocery prices are up 30%+ … that's a real day-to-day pain that people feel…"
BIDEN: "They have the money to spend!"
Then he repeats the debunked lie about Snickers bars and "corporate greed." pic.twitter.com/3qJDyK1bvy
— RNC Research (@RNCResearch) May 8, 2024
What tosh. Meanwhile, inflation was 1.4 percent when Biden took office. And now it is more than 9 percent.
Biden’s CPI rose another 0.4 percent in Feb.
Coffee prices have also been soaring.
But now the coffee metric is being skewed by having coffee dropped from the CPI.
This is unusual:
The US BLS has announced that coffee prices will no longer be factored into CPI inflation data.
In fact, the April 2024 CPI inflation report this week will be the first to NOT include coffee price inflation.
Well, the obvious next step is to see what happened… pic.twitter.com/ibkc3HmISS
— The Kobeissi Letter (@KobeissiLetter) May 12, 2024
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