The Worst Consumer Inflation In 40 Years

The Worst Consumer Inflation In 40 Years

• Under Joe Biden, Americans are paying more for everything, and real wages are falling. As Democrats double down on their destructive policies, there is no relief in sight.
• Data released today from the Bureau of Labor Statistics reveal the Consumer Price Index skyrocketed 7.5% from last year – the largest annual increase since 1982.
o Core consumer prices – a measure which excludes food and energy – spiked by 6% since last year, also the highest measure since 1982.
o Real average hourly earnings fell 1.7% in January, with inflation eating up any wage gains.
• It’s no surprise: only 1% of Americans view the economy as “excellent” while 75% view the economy as “not so good” or “poor.”
• Americans are paying more for just about everything:
  • Gas +40%
  • Electricity +10.7%
  • Bacon +18.1%
  • Eggs +13.1%
  • Chicken +10.3%
  • Fresh Fish +12.7%
  • Shoes +6.1%
  • Dresses +11.1%
  • Furniture +17%
  • Used Cars & Trucks +40.5%
  • Car & Truck Rentals +29.3%
• Last year, Biden’s anti-American energy agenda cost families and workers in total an extra $1,000.
o Gas prices remain at a seven-year high, costing Americans above $3 a gallon in every single state.
• Watching the Super Bowl this weekend? Before you start cheering for The Bengals, you’ll be forced to pay more for your party necessities:
  • Ground Beef +13%
  • Beer +4.8%
  • Wine +3.8%
  • Hot Dogs +2.1%
  • Sauces & Condiments +5.7%
  • Chicken Wings +11.6%
  • Crackers +12.6%
  • Avocados +24%
  • Snacks +8.2%
  • 2-Liter Soda +12%
  • Fruits & Vegetables +5.6%
• According to the Wells Fargo Inaugural Super Bowl Food Report, a full Super Bowl party spread may cost up to 14% more than last year.
• This crushing inflation is the direct result of Joe Biden’s failed economic agenda.
o 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.
o 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 to get to port.
o 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.
• Unfortunately for the American people, Biden has decided to double down on the policies that caused this inflation in the first place.
• Whenever Biden says the word “prices,” remember this: he lied about inflation for months, has lied about its consequences , and has zero credibility on the issue.
• The American people know the solution to Biden’s inflation crisis – historic victories for Republicans up and down the ballot in November to reject central planning and prioritize sound economic policies.