Whether it’s the Christmas tree or the gifts under it, inflation is stealing Americans’ Christmas cheer this year. Over 70% of Christmas tree growers plan to raise prices this year as much as 15% in order to afford rising production costs. According to the National Retail Federation, shoppers could pay more for less as they are expected to spend up to 8% more this year on holiday goods because of rising costs. Now, small businesses are bracing for declining sales as Americans plan to cut back.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
Inflation is a tax on ALL Americans.
As of October, prices rose at an annual rate of 7.7%, up 0.4% on a seasonally adjusted monthly basis, the SAME increase as in September, according to the U.S. Bureau of Labor Statistics.
Families across the country are still paying more for just about everything:
The shelter index continued to increase in October, rising 0.8%, the largest monthly increase in that index since August 1990.
The skyrocketing cost of goods and services will cost the average American household over $700 a month, which adds up to over $8,000 a year.
According to a recent survey, about half of Americans will cut back on holiday shopping this year due to rising costs as shoppers will spend up to 8% more on the same goods as this year on holiday shopping across the board compared to last Christmas.
Over 70% of Christmas tree growers plan to raise prices this year up to 15% to afford rising production costs.
MAKE NO MISTAKE: Bidenflation is Americans’ unwelcome guest this holiday season. House Republicans will rein in Joe Biden’s reckless spending in the new majority to fight our inflation crisis.