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:
- Gasoline is UP 58.1%
- Car and truck rentals are UP 37.2%
- Propane, kerosene, and firewood are UP 34.3%
- Energy is UP 33.3%
- Used cars and trucks are UP 31.4%
- Hotels and motels are UP 25.5%
- Lodging away from home is UP 22.2%
- Bacon and related products are UP 21.0%
- Beef and veal are UP 20.9%
- Pork is UP 16.8%
- Living room, kitchen, and dining room furniture are UP 14.1%
- Men’s suits are UP 14.1%
- Peanut butter is UP 12.9%
- Furniture and bedding are UP 11.8%
- Fresh fish and seafood is UP 10.6%
- Ham is UP 10.7%
- Washing machines are UP 9.2%
- Chicken is UP 9.2%
- Women’s dresses are UP 8.6%
- Fats and oils are UP 9.1%
- Eggs are UP 8.0%
- Prepared salads are UP 7.7%
- Coffee is UP 7.5%
- Canned vegetables are UP 6.5%
- 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.