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Bidenflation is the Grinch Who Stole Christmas

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.

  • 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:
    • Food at home is UP 12.4%
    • Energy is UP 17.6%
    • Fuel oil is UP 68.5%
    • Motor fuel is UP 18.1%
    • Gasoline is UP 17.5%
    • Energy services are UP 15.6%
    • Electricity is UP 14.1%
    • Utility (piped) gas service is UP 20.0%
    • Public transportation is UP 28.1%
    • Air fares are UP 42.9%
    • Flour is UP 24.6%
    • Chicken is UP 14.5%
    • Eggs are UP 43.0%
    • Milk is UP 14.5%
    • Potatoes are UP 15.2%
    • Canned fruit and vegetables are UP 18.7%
    • Roasted coffee is UP 15.6%
    • Butter is UP 26.7%
    • Food at employee sites and schools is UP 95.2%
    • Health insurance is UP 20.6%
  • Real wages have decreased under Biden 10 out of the 12 months in the last year.
    • Real average hourly earnings decreased 2.8%, seasonally adjusted, from October 2021 to October 2022.
    • Real wages have fallen every month since Joe Biden and Democrats passed their wasteful $1.9 trillion “stimulus.”
  • 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.