During a recent episode of Fox Business Network, host David Asman queried expert Michael Lee about the implications of a troubling inflation report, suggesting it stemmed from Bidenomics. However, Lee rejected this notion, attributing the inflation rise primarily to how consumer prices are calculated and significant external factors, notably the shelter cost. The report indicated that prices rose 3% over the past year, showing particularly high increases in transportation and shelter, which are critical elements influencing inflation.
The key driver behind the inflation report was the shelter cost, which constituted about 30% of the total increase in prices, rather than Bidenomics spending.
Michael Lee emphasized that the intricacies of CPI calculation and external factors are more relevant to inflation than attributing it solely to Bidenomics.
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