Trump slams Biden for inflation after hotter-than-expected CPI report [Video]

Donald Trump on Wednesday pounced on President Joe Biden after March’s consumer price index came in higher than expected, notching another data point that could signal inflation heating back up and tempering hopes of the Federal Reserve cutting interest rates in the near future.

“INFLATION is BACK—and RAGING!,” the former president wrote in a Truth Social post. “The Fed will never be able to credibly lower interest rates, because they want to protect the worst President in the history of the Untied States!”

Consumer prices rose 0.4% in March, slightly above economists’ expectations of 0.3%. That monthly rate pushed the year-over-year increase to 3.5%, higher than the 3.4% expectation.

The index has ticked higher than anticipated almost every month since November, possibly marking an unwelcome trend for Biden as the economy becomes the centerpiece of the 2024 election.

“I’m calling on corporations, including grocery retailers, to use record profits to reduce prices,” Biden said in a statement following the …