Inflation is back on the rise — that’s Bidenomics!
BIDENOMICS: Inflation is back on the rise, up 3.7% over last year — "hotter than expected" pic.twitter.com/KxzxqDfaDM
— RNC Research (@RNCResearch) September 13, 2023
Inflation surged by 3.7 percent year-over-year in August, according to the latest Consumer Price Index — “hotter than expected” and more than twice the rate it was when Biden took office — while real hourly earnings fell by 0.5 percent from July.
That’s not good news for Americans, who are still struggling financially. All told, prices have gone up by 17.4 percent while real wages have slumped by 3.1 percent since Biden took office. In fact, inflation has outpaced wages for a majority of Biden’s presidency while inflation-adjusted household income fell last year by the most in over a decade. Median household income has fallen for two straight years under Biden — and remains below pre-pandemic levels.
The Biden administration has been wrong about inflation since the very beginning. They’re not going to change course now.
