Former President Donald Trump ripped into President Joe Biden for the country’s collapsing economy as inflation reaches new heights.
In an emailed statement, Trump expressed his thoughts on the staggeringly high 9.1% inflation, the highest in over four decades.
“Inflation just hit ANOTHER 40-year high of 9.1%, which is terrible for our Country,” he wrote. “Fuel prices up 60%, Airfare up 34%, Eggs up 33%—how can people survive this? How can businesses survive this?”
“Our Country is so weak right now because the Radical Left Democrats have no clue what they are doing. All they want to do is ‘get Trump,’ and they are willing to destroy our Nation to do it,” the former president continued. “America will not allow this to go on for much longer. Don’t vote for the Radical Left Democrats, vote for America First Republicans—Save America!”
This comes as the inflation rate hit a 40-year high of 9.1 percent in June, according to data released on Wednesday by the Department of Labor.
The rise has shattered the 8.8 percent Dow Jones estimate and is the largest 12-month increase in 40 years, having soared from 8.6 percent in May.
Meanwhile, core inflation rose 5.9 percent over the last 12 months, slowing its pace from May.
“Price pressures have broadened to virtually every major line item within the inflation categories,” Gargi Chaudhuri, Head of iShares Investment Strategy Americas at BlackRock, said in a research note. “Core inflation is still high, but the drastic difference between headline and core shows how much the recent move in prices has been driven by food and energy price volatility resulting from supply shortages.
In Trump-related news, he is set to be the headline speaker at a political summit for the America First Policy Institute on July 26, making it his first appearance in Washington, D.C. since he left the White House on President Joe Biden’s Inauguration Day on January 20, 2021.
Trump also said recently that he feels “very confident” about running again for a second term in 2024 and hinted at an announcement before or after the midterm elections in November.
“I feel very confident that, if I decide to run, I’ll win,” he said in an interview with New York Mag’s Olivia Nuzzi.
According to a recent New York Times/Siena College survey, Trump still holds a plurality of support among Republican voters in 2024. Nearly 50% of Republican voters say they wanted him to run in 2024, while just 25% named Florida Gov. Ron DeSantis, who is also poised to run for president.
