Schumer: ‘Trumpflation is getting worse and worse’
Summary
Senate Minority Leader Chuck Schumer criticized President Trump’s administration for increasing inflation after new government data showed prices rising. The Labor Department said the cost of goods and services went up 4.2% over the last year and 0.5% in May.Key Facts
- The Labor Department released new inflation data on a Wednesday.
- The consumer price index (CPI), which tracks the cost of everyday items, rose 4.2% over the past year.
- Prices increased by 0.5% in May alone.
- Senator Chuck Schumer called this situation "Trumpflation."
- Schumer blamed the Trump administration for the higher inflation rates.
- Inflation means that the prices people pay for goods and services are going up.
- Higher inflation can affect the overall economy and household budgets.
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