Biden's false blame of Putin for inflation

 Breitbart:

Claim: Putin’s war against Ukraine is the biggest driver of inflation, the White House said Monday.

Verdict: False.

Inflation was high and rising long before the recent Russian invasion of Ukraine.  The Consumer Price Index (CPI) increased 0.6 percent in May of 2021 after rising 0.8 percent in April., On an annual basis, prices were up 5.0 percent, the largest 12-month increase since a 5.4-percent increase for the period ending August 2008.

Core inflation, which excludes food and energy, was 3.8 percent over the previous 12 months, the largest 12-month increase since the period ending June 1992.

The war in Ukraine and the global reaction, including sanctions and boycotts of Russian energy, have likely contributed to higher oil prices. Although, with China shifting its purchases toward Russia and away from Saudi Arabia, the effect has been somewhat blunted on global markets.

...

Biden deliberately drove up the price of oil in the US by limiting production and then purchasing foreign oil at the higher prices.  If he had allowed continued US production it would have driven down the world price for oil as it did under the Trump administraiton.

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