Highest Inflation In 40 Years

Even Your Super Bowl Parties And Valentine’s Day Gifts Aren’t Safe From Bidenflation

PRICES CONTINUE TO SPIKE UNDER BIDEN

• January’s Consumer Price Index surged by 7.5 percent compared to last year – exceeding economists’ expectations and marking the largest annual increase in 40 years.
  • Core consumer prices – excluding food and energy – rose by 6 percent since last year, the largest increase since August 1982.
  • The Core Personal Consumption Expenditure (CPCE) – a key measure of inflation – hit a near 40-year high.
  • Real average hourly earnings fell 1.7 percent in January, with inflation eating up any wage gains.
• On top of rising prices for everyday goods, costs for other essentials like healthcare are also rising.
  • Seniors are seeing the largest ever Medicare Part B premium increase in 2022.
• Gas prices remain at a seven-year high, costing Americans above $3 a gallon in every single state.
• Prices are “rising for everything, from the food on your shelves to the wood in your floors,” with the supply chain crisis edging up costs for basic metals like aluminum used in cars, plumbing, and window frames.  

BIDENFLATION IS COSTING THE AVERAGE FAMILY HUNDREDS OF DOLLARS EVERY MONTH

• Bidenflation is costing American families and workers hundreds of dollars each month.
  • Moody’s Analytics, a “Wall Street” firm Biden loves to cite, found inflation is costing American families $250 per month.
  • Biden’s favorite economist – Moody’s Mark Zandi – estimated last year the average American family was paying an extra $175 per month because of Bidenflation.
  • Last year, Biden’s anti-American energy agenda cost the average family a total of $1,000 according to the Heartland Institute.
  • The Penn Wharton Budget Model found inflation cost the average American household $3,500 last year.
• Only one percent of Americans view the economy as “excellent” while 75 percent view the economy as “not so good” or “poor.”
  • With rising inflation, consumer sentiment has tanked to 10-year low.
• With Super Bowl Sunday and Valentine’s Day just around the corner, everything will be more expensive – that is, if items are on shelves at all thanks to Biden’s unsolved supply chain crisis.
  • 64 percent of small businesses cite the supply chain crisis as a reason they have had to raise their prices.

SUPER BOWL SUNDAY WILL PUT A DENT IN AMERICANS’ WALLETS

• This Super Bowl Sunday, “you might have a hard time finding your gameday favorites,” with shortages for party foods like chicken wings.
• According to the Wells Fargo Inaugural Super Bowl Food Report, a full Super Bowl party spread may cost up to 14 percent more than last year.
  • Every ingredient costs more, including chicken wings (+24 percent), hamburger (+17 percent), salsa (+6 percent), and beer (+5 percent).
• Enjoying a cold beer on game day will cost more thanks to Bidenflation and supply chain woes, with major brands like Corona and Modelo recently announcing they would be raising their prices.
• Small businesses are also feeling the pinch like New York bar owner Jarek Krukow: “Wings were under $2 a pound. Now, they are really close to $4.”

VALENTINE’S DAY IS MORE EXPENSIVE

• This Valentine’s Day, the National Retail Federation says Americans will spend over 6 percent more per person on gifts than last year.
• Nationwide, roses are 54 percent more expensive this year, with one florist explaining that they are “preparing” for shortages after facing supply chain hurdles “every step of the way.”
• Americans with a significant other will spend $208 on average – up 44 percent from last year.
  • Dinner, including steak (+154 percent), and a dozen roses (+22 percent) will wallop their wallets.
  • Couples who want to save for a home are also facing steep barriers.
• “Shrinkflation” – maintaining the price but lowering the amount for customers – has taken hold in key Valentine’s Day gifts.
  • A pack of Hershey’s Kisses and a family-size container of Tillamook ice cream cost the same but now have less in them.
• Hershey’s has already been running low on chocolate before Valentine’s Day thanks to Biden’s supply chain crisis.

BIDEN’S FAILED ECONOMIC AGENDA IS TO BLAME

• Biden pushed a $1.9 trillion “stimulus” package, but the U.S. economy saw hundreds of thousands fewer jobs created in 2021 than what Biden promised.
• Biden has failed to deliver on his promise to provide relief from supply chain bottlenecks – cargo ships are now simply waiting farther out at sea.
• Total household debt across the United States rose by $1.02 trillion in 2021 – the most in any year since a 2008-09 financial crisis – largely due to rising prices for homes and new and used cars.
  • Las Vegas voters Emily Power and Antonella Russo: “It used to be like $30 every time I filled up and now it’s like over $50” and “The bills, the power, the gas, it’s everything. It’s all going up.”
• Fed Chair Jerome Powell warned high inflation will “likely continue…well into [2022],” a  worrying economic indicator that “can ultimately derail an economy.”
• Biden’s Build Back Broke agenda would make soaring prices even worse by requiring tax hikes on many middle class families, levying a home heating tax, and increasing child care costs by as much as $27,000 per year for many Americans.