According to the Labor Department, inflation continued to skyrocket in September, as the consumer index price index (CPI) accelerated at the fastest pace in 13 years.
This is just the latest sign that President Biden’s economic crisis continues to worsen with no real end in sight.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is taxation, and it has gone up every month of Joe Biden’s presidency.
- The CPI rose 5.4% year over year in September. This is the fastest increase in 13 years.
- Americans are paying more for just about everything while making less because of the skyrocketing inflation:
- Gasoline is UP 42.1%
- Used Cars are UP 24.4%
- Propane, kerosene, and firewood are UP 27.6%
- Gas Utilities are UP 20.6%
- Bacon and related products are UP 19.3%
- Laundry equipment is UP 19.1%
- Beef and veal are UP 17.6%
- Living room, kitchen, and dining room furniture are UP 13.7%
- Televisions are UP 12.7%
- Pork is UP 12.7%
- Meats are UP 12.6%
- Eggs are UP 12.6%
- Boys’ and girls’ footwear are UP 11.9%
- Furniture and bedding are UP 11.2%
- Fresh fish and seafood are UP 10.7%
- Women’s dresses are UP 9.5%
- New Cars are UP 8.7%
- Fresh and frozen chicken parts are UP 8.1%
- Electricity is UP 5.2%
- Food away from home is UP 4.7%
- Transportation is UP 4.4%
- Apparel is UP 3.4%
- Shelter is UP 3.2%
- The CPI report comes just days after September’s disappointing jobs report.
- In September, the U.S. economy added just 194,000 compared to the 500,000 economists expected.
- This was the worst jobs report of Joe Biden’s presidency.
- The labor force participation rate fell to 61.6% in September.
- The Labor Force Participation Rates decreased for the following demographics: Women, Black Men, Black Women, Hispanic Women, those with only a high school education, and those with some college.
It’s simple: Inflation is a tax on all Americans, and it’s fueled by President Biden and House Democrats’ out-of-control spending. Instead of addressing the root cause of inflation (out-of-control government spending), Biden and House Democrats are continuing to push their $5.5 TRILLION tax and spend package, which will only add fuel to America’s skyrocketing inflation.