While the White House Chief of Staff is declaring victory for President Joe Biden in inflation, many social media users lash out at him about the high prices they continue to pay.
Ron Klain lamented on Twitter that the media is not reporting new statistics on inflation as often as they did during a high of 40 years ago.
There was plenty of coverage when inflation was at its 40-year peak. He tweeted “But now” and pointed out a report that showed inflation had fallen to 2% in the second half of 2022 after rising to a rate higher than 7%.
Many on social media reacted negatively to Klain’s tweet about spiking the football.
“How come the media doesn’t focus on the 3-month annualized figure?” Cmon now,” replied MarketWatch European bureau chief Steve Goldstein.
Ron, prices are still high. However, they have slowed down because of the rolling 12-month calculation. Are you a frequent visitor to grocery stores in the past year? Read one response.
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“Maybe the media doesn’t want viewers to lose them through this gaslighting that you guys seem to be all over… still at a forty year high. Another critic replied, “Imo that’s not something to write about.”
“I have a problem about how inflation was covered. But this is a little like ‘everyone was talking about it when i drove drunk, but now that i’m driving sober nobody notices,'” another response.
“Do you know the difference between cost-of-living and rate of growth? What does it mean for the average person that wages have not increased at the same 40-year-high rates of growth? They can’t even afford the basic necessities.” Another detractor agreed.
Klain’s story won’t convince Cardi B, a popular rapper who vented sarcastically about high inflation on Thursday. She urged those in power to do all they can to lower prices.