The Biden administration warned that inflation numbers in March could be very high, ahead of the Bureau of Labor Statistics (BIS) inflation report scheduled to be released on Tuesday. “We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” White House press secretary Jen Psaki said to reporters on April 11. “We expect a large difference between the core and headline inflation, reflecting the global disruptions in energy and food markets.” The Consumer Price Index (CPI) measures inflation by checking price changes in a basket of goods and services that Americans tend to buy. This includes things like cellphones, eggs, gas, and so on. There are two versions of CPI, the headline CPI which includes all prices, and the core CPI which excludes volatile energy and food prices. Energy prices spiked in March owing to Russia’s invasion of Ukraine. Regular unleaded gas hit its highest-ever …