According to Fox Business:
“The typical U.S. household needed to pay $227 more a month in March to purchase the same goods and services it did one year ago because of still-high inflation, according to calculations from Moody’s Analytics chief economist Mark Zandi shared with FOX Business.
Americans are paying on average $784 more each month compared with the same time two years ago and $1,069 more compared with three years ago, before the inflation crisis began.”
MAKE NO MISTAKE: Bidenflation is a direct result of Joe Biden and Far Left Democrats’ out-of-control government spending. Since Biden took office overall inflation is up 19.4%. House Republicans have fought to rein in Biden and Far Left Democrats’ reckless spending and restore fiscal responsibility to Washington.
BIDENOMICS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- When Joe Biden took office, inflation was at just 1.4%.
- Since Joe Biden took office inflation has risen by 19.4%.
- Americans are paying more for just about everything because of inflation since Biden took office:
- Electricity is UP 29.2%.
- Rent of primary residence is UP 17.2%.
- Food prices are UP 21.1%.
- Eggs are up 49.3%
- Baby food is UP 30.5%
- Sugar and sugar substitutes are up 29%
- Frozen vegetables are up 28.2%
- Cookies are up 26.7%
- Soups are up 26.4%
- Uncooked beef steaks are up 24.8%
- Poultry is up 24.4%
- Pet food is up 23.7%
- Snacks are up 22.7%
- Coffee is up 19.6%
- Real average weekly wages are down 3.9% since Biden took office.
- From March 2023 to March 2024, the prices for the following goods surged:
- Food away from home is UP 4.2%
- Electricity is UP 5.0%
- Tobacco and smoking products are UP 6.8%
- Shelter is UP 5.7%
- Hospital services are UP 7.5%
- Transportation services are UP 10.7%
- Motor vehicle insurance is UP 22.2%
- Crackers, bread, and cracker products are UP 3.4%
- Beef and veal are UP 7.6%
- Uncooked beef roasts are UP 11.2%
- Frankfurters are UP 6.2%
- Lettuce is UP 5.8%
- Frozen noncarbonated juices and drinks are UP 27.5%
- Baby food and formula is UP 9.9%
- Care of invalids and elderly at home is UP 14.2%
- Motor vehicle repair is UP 11.6%
- Under Joe Biden’s failed economic agenda, Americans are spending over $11,400 more annually to buy the basics.
- Since Joe Biden took office, Americans are spending over $1,000 more a month than they were three years ago.
- The average monthly payments on a new home soared to $3,322 in the third quarter of 2023, marking a staggering 90% increase since late 2020 when it hovered at just $1,746 before Biden took office.
- According to a recent survey, one in eight retirees plan to return to work in 2024, largely due to Bidenflation.