Inflation Reaches The Highest Rate In Over 40 Years

The Consumer Price Index (CPI), a key inflation index, hit its highest rate in OVER 40-years high in March. The CPI increased 8.5% over the past 12 months, the highest rate since December 1981.

MAKE NO MISTAKE: Inflation is a tax on ALL Americans, and it has steadily increased over the span of Joe Biden’s failed 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 March, the CPI increased by 1.2%. to an annual rate of 8.5%.
• March was the largest 12-month increase since the period ending December 1981.
• Inflation has risen dramatically since Biden took office.
• This massive level of inflation is not the result of a so-called “Putin price hike,” but the failed policies of President Biden and House Democrats.
• Due to a 40 year high level of inflation, some economists estimate that the probability of a recession in the next 12 months is as high as 70%.
• Real wages have decreased under Biden 9 out of the 13 months since his first full month in office.
• Real average hourly earnings decreased 2.7%, seasonally adjusted, from March 2021 to March 2022.
• Since Biden came into office, real wages have declined by over 3%.
• Earnings are not keeping up with inflation.
• Americans are paying more for just about everything because of inflation:
  • Gas is UP 48.0%
  • Used vehicles are UP 35.3%
  • Hotels and motels are UP 29.0%
  • Lodging away from home is UP 25.1%
  • Airline fares are UP 23.6%
  • Car and truck rentals are UP 23.4%
  • Uncooked beef and veal are UP 20.4%
  • Bacon is UP 18.2%
  • Pork is UP 15.3%
  • Fresh and frozen chicken is UP 15.1%
  • Ham is UP 14.6%
  • Butter is UP 14.0%
  • Frozen fish and seafood is UP 13.9%
  • Milk is UP 13.3%
  • New vehicles are UP 12.5%
  • Eggs are UP 11.2%
  • Roasted coffee is UP 11.7%
  • Baby food is UP 10.8%
• 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, Joe Biden and House Democrats continue to push their Far-Left Socialist agenda, which will only exacerbate America’s economic crisis.