The Putin Inflation

A short word on President Joe Biden’s (D) allegation wherein he shifts the blame for our high inflation to Russia’s President Vladimir Putin and the latter’s invasion of Ukraine. This graph is from Trading Economics:

May 2022’s year-on-year inflation rate is 8.6%, and it’s been in that range since March 2022. Putin invaded Ukraine on 24 Feb 2022.

The January 2022 year-on-year inflation rate was 7.5%. February’s was 7.9%; Putin’s invasion was too late in the month to have materially affected that month’s rate.

87% of May’s inflation rate was already occurring in January, two months before Putin invaded Ukraine.  By February, that had risen to 92%.

Apparently, according to Biden, time travel is a thing, and it’s a weapon solely in Russia’s arsenal.

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