White House Expecting ‘Extraordinarily’ High Inflation in March

White House Expecting ‘Extraordinarily’ High Inflation in March
A Pacific Gas & Electric worker walks in front of a truck in San Francisco, on Aug. 15, 2019. Jeff Chiu/AP Photo
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The Biden administration warned that inflation numbers in March could be very high, ahead of the Bureau of Labor Statistics (BIS) inflation report scheduled to be released on Tuesday.

“We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” White House press secretary Jen Psaki said to reporters on April 11. “We expect a large difference between the core and headline inflation, reflecting the global disruptions in energy and food markets.”