President Biden’s economic crisis continued in October as the Consumer Price Index (CPI), a key inflation index, hit a 30-year high. CPI rose 6.2% in October compared with a year ago, this is the largest annual increase in 30 years.
This news comes just weeks before Thanksgiving, which is already expected to be the most expensive in the history of the holiday and just the latest sign that President Biden and House Democrats’ out-of-control spending only makes America’s economic crisis worse.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
- Inflation is taxation and it has gone up every month of Joe Biden’s presidency.
- In October, the CPI increased by 0.9% to 6.2%
- Americans are paying more for just about everything because of inflation:
- Regular gasoline is UP 51.3%
- Car and truck rentals are UP 39.1%
- Energy is UP 30.0%
- Used cars and trucks are UP 26.4%
- Staying in hotels are UP 25.5%
- Steaks are UP 24%
- Lodging away from home is UP 22.3%
- Bacon and related products are UP 20.2%
- Beef and veal are UP 20.1%
- Pork chops are UP 15.9%
- Meats are UP 14.5%
- Eggs are UP 11.6%
- Electricity is UP 11.2%
- Fresh fish and seafood are UP 11.0%
- Televisions are UP 10.4%
- Fresh and frozen chicken is UP 10.2%
- New vehicles are UP 9.8%
- Baby food is UP 7.9%
- Apples are UP 6.7%
- Canned vegetables are UP 6.6%
- Roasted coffee is UP 5.6%
- Real wages have decreased under Biden 7 out of 9 months since his first full month in office.
IT’S SIMPLE: Instead of addressing the root cause of inflation out-of-control government spending, President Biden and House Democrats continue to push their Far-Left Socialist reconciliation package, which will only exacerbate America’s economic crisis.