Zach Nunn blamed Cindy Axne and Democrats for increasing inflation. Spending under the Democrats contributed, but several other factors including the COVID economic recovery, supply-chain disruptions, and Russia’s war on Ukraine have all played a role.
that the supply chain disruption caused by the war in Ukraine is impactful but not the whole story of why inflation is rising internationally.Nunn’s campaign said Iowans would pay $5,000 more this year because of inflation, and that Democrats were to blame.
Bureau of Labor Statistics data shows that Iowans will pay $4,176 more on household goods this year because of inflation, based on a bureaufor the Midwestern region going back to August 2022. The $5,000 figure comes from an estimate that Bloomberg News analysts predict for 2022. But it is an estimate. We must wait to see how close the prediction was to what happens.
The effect the American Rescue Plan ultimately will have on inflation has yet to be determined but it is having some effect, analysts said. But, solely blaming Democrats for inflation does not take into account the whole picture. Supply shortages and strong demand for products, supply chain problems and international market pressures combine with federal monetary policies to affect inflation. We rate the statement Half True.on April inflation data, May 27, 2022.
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