Trump furiously spins to blame Joe Biden after bad new inflation data

Inflation data released on Wednesday showed that prices unexpectedly grew in January, the first month of President Donald Trump's second term.

As reported by ABC News, the data showed particularly troubling rises in staple grocery items.

"Egg prices, a closely watched symbol of rising costs, soared 53% in January compared to a year ago," ABC News writes. "Beef prices climbed 5% and bacon prices jumped 6% in January compared to a year ago, data showed."

President Donald Trump, who vowed to bring down grocery prices on "Day 1" of his presidency, took to Truth Social after the report was released and rushed to pin the blame on President Joe Biden.

"BIDEN INFLATION UP!" Trump declared.

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While it's true that Biden was still president for most of January, there have been multiple indicators that inflation could pick back up in the coming months.

First, Trump's trade wars, including recent tariffs slapped on foreign steel and aluminum, are highly likely to put upward pressure on key consumer goods such as cars and beer, according to experts.

Additionally, Trump has been putting pressure on the Federal Reserve to continue slashing interest rates after it recently paused the rate cuts it began enacting this past autumn.