The consumer price index (CPI), a key inflation index, surged 7.5% over the past year, the highest reading since February 1982.
Inflation is a tax on all Americans, and it has gone up every month of Joe Biden’s failed presidency. It has been fueled by Biden and Congressional Democrats’ out-of-control government spending for their failed Far-Left agenda.
Biden’s Economic Crisis By The Numbers:
- Inflation is a tax on ALL Americans.
- Inflation has increased every month of Joe Biden’s presidency.
- CPI surged 7.5% over the past year, the highest reading since February 1982.
- Americans are paying more for just about everything because of inflation:
- Used Cars are UP 40.5%
- Gasoline is UP 40.0%
- Bacon and related products are UP 18.1%
- Beef and veal are UP 16.0%
- Pork is UP 14.1%
- Eggs are UP 13.1%
- Fresh fish and seafood are UP 12.7%
- New Cars are UP 12.2%
- Women’s dresses are UP 11.1%
- Electricity is UP 10.7%
- Chicken is UP 10.3%
- Roasted coffee is UP 9.3%
- Infant and Toddler apparel is UP 8.8%
- Food at home is UP 7.4%
- Food away from home is UP 6.4%
- Transportation is UP 5.6%
- Shelter is UP 4.4%
- Inflation is going up faster than wages.
- Inflation affects low-income workers the most.
- Real wages have decreased under Biden 8 out of the 12 months since his first full month in office.
- Biden’s first year in office went down as the worst year for inflation since 1981.
- In 2021, inflation cost the average worker nearly two paychecks and cost the average family $3,500, but since inflation pushes families into higher tax brackets, it totals to $5,000 per year for the average family.
IT’S SIMPLE: Biden and Congressional Democrats’ Far-Left policies and out-of-control spending are responsible for America’s economic crisis. Instead of addressing the root cause of this crisis, they continue to double down on their failed Far-Left agenda and out-of-control government spending.
Read Ways and Means Republican Leader Rep. Kevin Brady (R-TX) statement on the January CPI report HERE.