We have entered the longest period of high inflation since the late 1980s.
Year-over-year inflation clocked in at 3.3% in May — still well above the Fed’s target rate.
Americans hoping for relief from sky-high prices under Crooked Joe Biden will be sorely disappointed.
🚨SINCE BIDEN TOOK OFFICE:
— Jacki Kotkiewicz (@jackikotkiewicz) June 12, 2024
Gas: +55.3%
Groceries: +21.2%
Eating out: +22.2%
Baby food: +28.4%
K-12 food: +65.1%
Pet food: +23%
Rent: +21.2%
Electricity: +29%
Natural gas: +22.2%
Used cars: +20.9%
Airfare: +39.9%
Public transportation: +27.2%
Real average weekly earnings: -3.9%
Overall prices are up 20.1% since Biden took office, with gas prices up 55.3%, airfare up nearly 40%, electricity up 29%, rent up 21.2%, and grocery prices up 21.2%. The monthly mortgage payment on a median priced home has increased a staggering 119.5% under Biden.
In fact, the actual Consumer Price Index has reached a new “ALL-TIME HIGH” (again), underscoring the devastating effects of the cumulative price hikes during the Biden administration.
Americans simply cannot keep up. Under Biden, real average weekly earnings have DECLINED by 3.9% and average hourly earnings are down 2.2%. That’s a stark contrast from President Trump’s tenure, which saw Americans’ real average weekly earnings increase by 8.2%.
REMINDER: The incompetent Biden administration promised inflation would be “transitory” — but they were lying. As a result, six-in-ten Americans say they’re living paycheck-to-paycheck and average inflation under Biden is more than DOUBLE what it was under any of the last four presidents.
It’s called “Bidenomics.”
