Roughly 15 months after Democrats took complete control over the lawmaking and policymaking apparatuses of government, Americans are increasingly feeling the pressure financially, and it keeps getting worse.
In fact, Americans are paying the most now for food since the waning days of President Jimmy Carter’s administration.
According to new government figures, food prices rose last month by 11.9 percent, the steepest inflationary rate since 1979.
Meanwhile, real wages have declined, a reversal from when former President Trump presided over low inflation and rising wages.
According to Bloomberg:
CATEGORY INCREASE (YOY) HISTORICAL
Airfares 37.8% Nov. 1980
Energy 34.6% Sept. 2005
Delivery Services 16.4% June 2010
Vehicle parts 15.3% Record
Food at home 11.9% April 1979
Movies, theaters, concerts 6.4% May 2003
Rent of primary residence 5.2% Feb. 1987
Jacki Kotkiewicz, director of policy research for the GOP said:
Inflation just hit a NEW 40-year high.
Overall CPI: +8.6% since last year
Gas: +48.7%
Fuel Oil: +106.7%
Meat, Poultry, & Fish: +13.1%
Milk: +15.9%
Eggs: +32.2%
Coffee: +15.3%
Used Cars: +16.1%
Airline Fares: +37.8%
Real Average Hourly Earnings: -3%
Inflation just hit a NEW 40-year high.
Overall CPI: +8.6% since last year
Gas: +48.7%
Fuel Oil: +106.7%
Meat, Poultry, & Fish: +13.1%
Milk: +15.9%
Eggs: +32.2%
Coffee: +15.3%
Used Cars: +16.1%
Airline Fares: +37.8%
Real Average Hourly Earnings: -3%— Jacki Kotkiewicz
KNOW MORE:
Yes, Inflation And the Economy Have Both Gotten This Bad Under Biden