Bidenflation continues to hit Americans’ wallets.
This morning, the Labor Department announced that consumer prices increased by 6.8% in November from last year, the LARGEST INCREASE IN 39 YEARS. Core consumer prices – stripping out food and energy – rose 4.9% since last year, THE LARGEST INCREASE SINCE JUNE 1991.
And what does that mean for American workers? Real average hourly earnings DECREASED by 1.9%. When Biden says “wages are up,” he is lying. Inflation is more than eating up any nominal wage gains.
Bidenflation hits Americans that can least afford it the hardest, with 71 percent of households making less than $40,000 having experienced financial hardship due to Biden’s hidden tax.
The problem now: Biden and the Democrats are doubling down on the exact policies that caused this historic increase. Economists of all political strips are warning so.
