Morrison predicts a recession is likely, and gas prices are part of the gloomy financial picture. | Sippakorn Yamkasikorn/Unsplash
Morrison predicts a recession is likely, and gas prices are part of the gloomy financial picture. | Sippakorn Yamkasikorn/Unsplash
Cook County Commissioner Sean Morrison tweeted a critique of the Biden Administration’s attempts to deal with inflation, describing the president’s policies and the use of executive orders as culprits.
“Producer Price Index (PPI) is in at 11.4% for March. This forecasts an even higher number of future inflation and certainly the beginning of a recession,” Morrison wrote on Twitter. “The reckless Biden executive orders and policies issued since Day One are the main contributors to most of this."
The Bureau of Labor Statistics (BLS) collects data on the average price changes for domestic goods over time, which is called the Producer Price Index. The BLS released its data on April 13 for March, showing an increase of 1.4% for the month. The previous 12-month period measured by the PPI puts the number at 11.2%, which is the highwater mark for the index since data was first collected in 2010.
Commissioner Sean Morrison
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The BLS report shows that energy prices rose steeply in March at 5.7%, which was reflected in gas prices as one source of energy. According to AAA, the average price of a gallon of regular gas in Illinois as of April 13 is $4.324, up from $3.058 one year ago. In Cook County gas prices average $4.587, which is more expensive than the national average. AAA predicts prices will continue this upward trend.
Morrison represents a constituency of approximately 300,000 residents in Cook County’s 17th District. His office is in Orland Park. Democrat Toni Preckwinkle is the first Black woman elected president of the Board of Commissioners, a position she’s held since 2010.
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