Skip to Content
Rep. Elise Stefanik, Chairwoman
subscribe
SUBSCRIBE

Press Releases

Bidenflation Is Up Nearly 20% Since Joe Biden Took Office

Washington, May 20, 2024

Since Joe Biden took office and started implementing his failed Far Left Democrat agenda and the reckless government spending to fund it, Bidenflation has skyrocketed by nearly 20%. According to Fox Business, “Biden touts cooling inflation, but prices up nearly 20% since 2021.” 
 
MAKE NO MISTAKE: Bidenflation is a tax on ALL Americans, and it has skyrocketed because of Joe Biden and Far Left Democrats’ reckless spending. House Republicans are fighting to rein in their out-of-control spending and drive down costs for Americans. 
 
BIDENOMICS BY THE NUMBERS: 

  • Inflation is a tax on ALL Americans. 
  • When Joe Biden took office, inflation was at just 1.4%. 
  • Since Joe Biden took office, inflation has risen by 19.9%.
  • Americans are paying more for just about everything because of inflation since Biden took office: 
    • Food at elementary and secondary schools is UP 64.9%
    • Gasoline (all types) is UP 55.5%
    • Eggs are UP 43.5%
    • Airfare is UP 38.2%
    • Baby food and formula is UP 30%
    • Frozen vegetables are UP 29.4%
    • Electricity is UP 28.5%
    • Public transportation is UP 26.1%
    • Butter is UP 26.1%
    • Cookies are UP 25.9%
    • Breakfast cereal is UP 24.3%
    • Pet food is UP 23.1%
    • Eating out is UP 21.8%
    • Groceries (Food at home) are UP 21.3%
    • Rent is UP 20.8%
    • Used cars are UP 20.4%
  • Real average weekly wages are down 4.4% since Biden took office.
  • From April 2023 to April 2024, the prices for the following goods increased:
    • Frozen noncarbonated juices and drinks are UP 29.2%
    • Motor vehicle insurance is UP 22.6%
    • Transportation services are UP 11.2%
    • Uncooked beef roasts are UP 10.1%
    • Hospital services are UP 7.7%
    • Frankfurters are UP 7.1%
    • Food from vending machines and mobile vendors is UP 7.3%
    • Tobacco and smoking products are UP 6.7%
    • Sugar and sugar substitutes are UP 6.6%
    • Owners’ equivalent rent of residences is UP 5.8%
    • Shelter is UP 5.5%
    • Baby food and formula is UP 5.1%
    • Other food away from home is UP 5.0%
    • Canned vegetables are UP 4.8%
    • Energy services are UP 3.6%
  • In April, the United States added just 175,000 nonfarm payroll jobs. 
    • This is well below the 240,000 jobs that economists had forecasted.
  • In April, the unemployment rate came in at 3.9%, over the estimate of 3.8%. 
  • In April, Labor Force Participation Rates decreased for the following demographics:
    • Black Americans
    • Black American men, 20 years and over
    • Black American women, 20 years and over
    • Black American teenagers
    • Men, 16 years and over
    • Men, 20 years and over
    • Teenagers
    • White women, 20 years and over
  • Americans are spending over $12,800 more annually to buy the basics because of Bidenflation compared to three years ago. 
  • Since Joe Biden took office, Americans are spending over $1,000 more a month than they were three years ago.