President Biden and House Democrats’ out-of-control spending continues to cause inflation to surge.
The Personal Consumption Expenditures (PCE) price index rose sharply again in June and the increase over the past year remains at a 13-year high.
THE BIDEN INFLATION BY THE NUMBERS:
- The PCE price index rose a sharp 0.5% in June.
- Inflation has increased every month since President Biden took office.
- Americans are making less today than they did a year ago because of inflation.
- The cost of back-to-school shopping has skyrocketed because of inflation.
- Families with children in elementary through high school plan to spend an average of $848.90 on school items, which is $59 more than last year.
- The consumer price index which is a key inflation indicator had its largest jump since just before the 2008 financial crisis in June.
It’s simple: Inflation is taxation. It is caused by President Biden and House Democrats’ out-of-control spending and American families are the ones suffering.