AFP, Washington

US President Donald Trump on Wednesday blamed his predecessor Joe Biden for last month’s unexpected acceleration in consumer inflation, as he looked to deflect a moment of potential political peril early in his second term.

The consumer price index (CPI) edged up to 3.0 percent in January from a year ago, the Labor Department said in a statement -- slightly above economists’ estimates.

Stripping away volatile food and energy costs, so-called core inflation rose by 3.3 percent over the past 12 months, which was also slightly above expectations.

“BIDEN INFLATION UP!” Trump wrote on Truth Social shortly after the data was published, seeking to blame Biden for the CPI figures, which included 12 days in which was Trump was in office.

“It’s far worse than I think anybody anticipated, because unfortunately, the previous administration was not transparent in where the economy truly was,” White House Press Secretary Karoline Leavitt told reporters in Washington later Wednesday.

Inflation increased by 0.5 percent in January from a month earlier, while core inflation rose by 0.4 percent.

On the campaign trail, Trump frequently touted inflation and the cost of living under his predecessor as key issues, along with immigration, as he looked to capitalize on negative public perceptions of Biden’s handling of the economy.

Now Trump faces the worrying prospect that the increase in prices of essential items could continue to accelerate on his watch.

The cost of eggs surged more than 15 percent last month as farmers contended with avian flu, marking the largest increase in the index since June 2015, according to the Labor Department.

Gasoline prices also jumped, along with several other politically potent price points.

“President Trump campaigned on lowering costs for working families but today’s inflation data highlights how he is failing to deliver on that promise,” Democratic Senator Elizabeth Warren said in a statement.

The January inflation data will likely fuel calls for the Federal Reserve -- the independent US central bank -- to hold its key lending rate at between 4.25 and 4.50 percent as it waits for price pressures to ease.

Speaking in Congress on Wednesday, Fed chair Jerome Powell said the CPI data reinforced the bank’s recent cautious approach on interest rate cuts.