“Whip inflation now?” Hardly:
Inflation accelerated to its fastest annual pace in two and a half years in April, as surging gas prices continued to hit American consumers.
The Consumer Price Index, the government’s key inflation measure, rose 3.2% over the last 12 months ended April 30, according to Friday’s report from the Labor Department. It was the biggest 12-month jump since October 2008.
More than half of the increase was due to rising energy prices, the government said. Gas prices alone surged 3.3% in April, and are up 33.1% over the past year.
How about “drill, baby, drill?”