Inflation Reaches Highest Level In Nearly 40 Years

President Biden’s economic crisis continued in November as the Consumer Price Index (CPI), a key inflation index, hit a nearly 40-year high. CPI rose 6.8% in November compared with a year ago, the largest annual increase since 1982.

November’s CPI report is the latest sign is that Biden and House Democrats’ out-of-control spending is only worsening our economic crisis as Americans are now making less while paying more for just about everything.

BIDEN’S ECONOMIC CRISIS BY THE NUMBERS: 

  • Inflation is taxation and it has gone up every month of Joe Biden’s presidency.
  • In November, the CPI  increased by 0.9% to 6.8%.
  • Real wages have decreased under Biden 8 out of 10 months since his first full month in office.
  • Real average hourly earnings decreased 1.9%, seasonally adjusted, from November 2020 to November 2021.
  • Americans are paying more for just about everything because of inflation:
  • November’s CPI Report follows the worst jobs report of Biden’s presidency:
    • The U.S. economy added 210,000 jobs in November, missing the expected 573,000 new jobs.
    • Motor vehicles and parts manufacturing LOST 10,000 jobs.
    • General merchandise stores LOST 20,000 jobs.
    • Clothing and clothing accessories stores LOST 18,000 jobs.
    • Sporting goods, hobby, book, and music stores LOST 9,000 jobs. 

IT’S SIMPLE: Instead of addressing the root cause of inflation out-of-control government spending, President Biden continues to push his Far-Left Socialist reconciliation package, which will only exacerbate America’s economic crisis.