From Toni Anne Dashiell (RNC National Committewoman) Apr 15th
So Much For Transitory! Bidenflation Rages On, Crushing American Families & Businesses
Since Joe Biden took office, inflation has skyrocketed across all sectors of the American economy – robbing all Americans, especially the poor and those on living on fixed incomes, of a significant portion of their spending power. In fact, inflation is now costing the average American family an extra $536 per month compared to when Joe Biden took office – even if inflation stopped entirely, Americans will still pay an extra $6,400 dollars over the next 12 months. Americans literally can’t afford Biden and Democrats’ reckless policies. What you need to know:
As prices continue to rise and many store shelves are empty, consumer sentiment has now plummeted to a new “decade-long low.”
March’s Consumer Price Index surged by 8.5% compared to last year – exceeding economists’ expectations and reaching a new 40-year high.
Core consumer prices – excluding food and energy – rose by 6.5% since last year, the largest increase since August 1982.
Real average hourly earnings fell 2.7% in March, with rising prices eating up any wage growth.
March’s Producer Price Index, which measures wholesale inflation, spiked a whopping 11.2% from last year – reaching yet another all-time high.
This is the 12th consecutive month producer price increases have hit record highs under Joe Biden.
Core producer prices – a measure which excludes food and energy – also increased at a record 9.2%.
Another key measure of inflation, the Personal Consumption Expenditures (PCE) price index – spiked 6.4% from a year ago, the largest increase in 40 years.
No matter where Americans go, they’re hit with the harsh reality of rising prices.
Americans are starting to cut back “on mainstays from toothpaste to baby formula.”
Some retirees have no choice but to re-enter the workforce “because the prices of food are triple of what they were.”
Food is set to get even more expensive this year, with the USDA forecasting that “all food prices are now predicted to increase between 4.5 and 5.5%” in 2022.
Restaurants are adding inflation fees to diners’ checks to offset the costs of inflation.
Gas prices hit a record high last month, and Americans are still paying an average of $4.07 per gallon.
83% of Americans report being either a great deal or a fair amount worried about inflation, with mentions of inflation as the nation’s most important problem at their highest level since 1985.
26% of small businesses report inflation as the number one problem their business faces – the highest level since 1981.