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Sunday, April 28, 2024

'PPI is in at 11.4% for March': Morrison criticizes Biden administration economic policies for soaring inflation

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Cook County Commissioner Sean Morrison | Facebook/Cook County Commissioner Sean Morrison

Cook County Commissioner Sean Morrison | Facebook/Cook County Commissioner Sean Morrison

Cook County Commissioner Sean Morrison recently criticized the Biden administration for inflation and cited numbers from the U.S. Bureau of Labor Statistics (BLS) that indicates more inflation and a recession is imminent. 

The BLS issued its latest data on the Producer Price Index (PPI) on April 13. After increasing by 1.4% in March, the PPI now stands at 11.2% for the last 12-month period, which is the largest increase ever recorded since the BLS began collecting this data in 2010.

"PPI is in at 11.4% for March, this forecasts an even higher number of future inflation and certainly the beginning of a recession," Morrison wrote in an April 13 Twitter post. "The reckless Biden executive orders and policies issued since day one, are the main contributors to most of this."

The average price of a gallon of regular gas in Illinois as of April 13 is $4.324, according to AAA, up from $3.058 one year ago. In Cook County, the price of gas is averaging $4.587.

Sean Morrison is one of 17 Cook County Commissioners who make up the Board of Commissioners, which is headed by Democrat Toni Preckwinkle. Morrison represents the 17th district, which is home to around 300,000 residents.

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