In June, the Consumer Price Index (CPI)showed that Bidenflation remains a tax on all Americans, and it isn’t going away anytime soon. Since taking office, inflation has risen by20.1%. Americans are paying 30.5% more for baby food and formula, 21.3% more for groceries, and 14.7% more for hospital services. While Americans are paying more for just about everything, they are also making less as wages fail to keep pace with skyrocketing Bidenflation.
MAKE NO MISTAKE:Joe Biden and Far Left Democrats’ out of control government spending is what has caused Bidenflation. Since taking control of Congress, House Republicans have fought to rein in their reckless spending and restore fiscal responsibility to Washington D.C.
BIDENOMICS BY THE NUMBERS:
Inflation is a tax on ALL Americans.
When Joe Biden took office, inflation was at just1.4%.
Since Joe Biden took office, inflation has risen by20.1%.
Americans are paying more for just about everything because of inflation since Biden took office:
K-12 food isUP 65.1%
Motor vehicle insurance isUP 52.9%
Home insurance is up52.9%
Gasoline (all types) isUP 48.7%
Motor vehicle repair isUP 40.1%
Eggs areUP 38.9%
Admission to sporting eventsareUP 33.7%
Airline fares areUP 32.0%
Baby food and formula areUP 30.5%
Delivery services areUP 28.9%
Cigarettes areUP 27.3%
Pet services including veterinary areUP 27.2%
Financial services areUP 26.2%
White bread isUP 25.4%
Uncooked ground beef isUP 24.7%
Checking account and other bank services isUP 24.5%
Frozen fruits and vegetables areUP 23.9%
Pet food isUP 23.8%
Chicken isUP 23.7%
Lunchmeats areUP 22.9%
Eating out isUP 22.7%
Breakfast cereal isUP 22.3%
Public transportation isUP 22.3%
Rent of primary residence isUP 21.5%
Groceries (Food at home) areUP 21.3%
Hospital services are UP14.7%
Americans are spending over$13,000more annually to buy the basics because of Bidenflation, compared to three years ago.
June was the 39th straight month with inflation at or above 3%.
Real wages remainlowerthan when Biden first took office.
Inflation-adjusted average weekly earnings were $397.90 when Biden took office and are now$381.34- the Bureau of Labor Statistics adjusts to 1982-1984 dollars - meaning Americans have seen a4.1%decrease under Biden.
Bidenflation outpaced wages for a majority of Biden’s presidency – both year-over-yearreal average hourly earningsandreal average weekly earningswere negative for 26 months.
Under Biden, themortgage rateclimbed to over 7% nationally, and housing affordability has plummeted torecord lows.
