Inflation hits a record 40-year high; President Biden calls the rate "unacceptably high"
Stefani Reynolds, AFP
We ran the numbers: There are 1,767 news articles covering this topic. 12% (215) are left-leaning, 31% (545) are centrist, and 57% (1007) are right-leaning.
Biden called inflation “unacceptably high” when rates broke a 40-year record after a June surge to 9.1%. While left-leaning articles highlight how rising costs are likely due to increased energy prices, right-leaning articles blame Biden and increased federal spending.
A left-leaning article from Politico focused on how the recent inflation price was the sharpest pace since 1981. Nearly half of the overall increase in inflation was caused by the energy index, which rose 7.5%. The article also notes that despite differing claims, inflation has likely not peaked given price gains across a variety of categories.
USA Today published a centrist article reporting on how the rise in inflation will likely cause the Federal Reserve to raise rates by three-quarters of a percentage point. Russia’s invasion of Ukraine has dwindled global supplies, leading to increased gas and food prices, and causing inflation to rise. The article claims that June is likely the peak of rising rates.
A right-leaning article from the New York Post focused on how the Biden administration’s increased federal spending on programs such as the $1.9 trillion American Rescue Plan Act led to rising inflation rates. American Inflation is worse than in many other Western countries as the average inflation rate in the Eurozone is 8.8%. While Biden has pushed Congress to pass the Build Back Better plan to counteract inflation rates, the article argues that the bill will only worsen inflation.
From the right
Biden claims 40-cent gas price drop makes up for ‘unacceptably high’ inflation
New York Post