Personal consumption expenditures price index inflation, one of the Federal Reserve‘s preferred gauges of price instability, has risen for the first time since September of last year, another damning contradiction of the White House’s assertion that President Joe Biden has tamed the worst inflationary crisis in 40 years.

Headline PCE inflation rose by 2.5% in the year ending in February, up from 2.4% in January. While 12-month core PCE inflation, which strips away the volatile categories of food and energy, slightly fell from 2.9% to 2.8%, the six-month annualized rate rose to 2.9% in February, up from 1.9% in December and 2.6% in January.