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Hey, good morning, Playbookers and Rogan Willevalin. It's Tuesday, and we got a preview of today's

inflation report. It's your Politico Playbook Daily briefing.

This morning at 8.30 a.m., the Labor Department will release its newest consumer price index report.

The White House is bracing itself for the

political impact of inflation numbers that are widely expected to be the highest he had faced

during the Biden administration. Economists polled by Reuters anticipate that the report will

show that year over year, consumer prices rose 8.4% in March, up from 7.9% in February. That

would be the highest rate since the 1981,

notes CNBC. Here's why it's likely to be that bad. This is the first CPI report since the large

jump in oil and gas prices after Russia's invasion of Ukraine. Worth noting from CNBC's Thomas Frank,

quote, economists consider two versions of the CPI data, the headline

number that includes all prices consumers face, and the so-called core CPI that includes

often volatile food and energy price fluctuations. The White House says it anticipates a wider

than normal disparity between the headline and core readings because of an abnormal increase

in gas prices that occurred

last month. Here's how the White House is already talking about it, one, blaming Russian President

Vladimir Putin. At a White House briefing Monday, press secretary Jansaki said the administration was

expecting the CPI headline inflation to be extraordinarily elevated due to Putin's price hike.

And two, noting President Joe Biden's

moves to reduce gas prices, including releasing nearly 1 million barrels of oil a day from the

Strategic Petroleum Reserve. You can also expect them to note that gas prices have begun to drop

...