Republican congressman Glenn Grothman predicts high inflation will continue for at least a year and he blames federal spending programs during the pandemic. Grothman says he thinks the consumer price index is probably even higher than the 9.1 percent reported last week, and says inflation will only get worse. “All of it stems from excessive government spending,” Grothman told WFDL news. “Anybody could have told the Biden people that. Right out of the shoot they passed this $19 trillion package, the federal reserve had to print the money and like day follows night, excessive debt results in the fall of the dollar. Very scary,” Grothman said. Economists say there are several factors at play. Fueled by heavy demand and by Russia’s invasion of Ukraine, energy costs shot up nearly 42 percent in the past 12 months, the largest such jump since 19880. Even if you toss out food and energy prices, which have driven much of the price spike-so-called core inflation soared 5.9 percent over the past year.
