The Consumer Price Index (CPI), a key inflation index, hit a fresh 40-year high in February. The CPI increased 7.9% over the past 12 months, its highest rate since January of 1982.
MAKE NO MISTAKE: Inflation is taxation, and it has gone up every month of Joe Biden’s presidency.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is a tax on ALL Americans.
- Inflation has increased every month of Joe Biden’s presidency.
- In February, the CPI increased by 0.8%. to an annual rate of 7.9%.
- Real average hourly earnings decreased 0.8% from January to February.
- Real average hourly earnings decreased 2.6%, seasonally adjusted, from February 2021 to February 2022.
- Earnings are not keeping up with inflation.
- Americans are paying more for just about everything because of inflation:
- Used cars and trucks are UP 41.2%
- Gasoline is UP 38.0%
- Lodging away from home is UP 25.1%
- Bacon is UP 18.8%
- Peanut butter is UP 15.6%
- Pork is UP 14.0%
- Women’s dresses are UP 13.5%
- Airline fees are UP 12.7%
- New vehicles are UP 12.4%
- Eggs are UP 11.4%
- Coffee is UP 10.5%
- Baby food is UP 8.4%
- Transportation services are UP 6.6%
- Beer is UP 5.3%
- 2021 went down as the worst year for inflation since 1981.
IT’S SIMPLE: Instead of addressing the root cause of inflation, out-of-control government spending, President Biden and House Democrats continue to push their Far-Left Socialist agenda, which will only exacerbate America’s economic crisis.