If food prices haven’t been high enough, now, thanks to Bidinflation, the price to eat is almost 12% over the last year, and the largest annual increase since May 1979.
Specifically, restaurant menu prices increased 8.2%, and grocery prices surged 13.8%.
Inflation, which reached a four-decade high earlier in 2022, increased far more than economists and corporate media told us it would be as summer came to an end. Consumer prices continue to rise according to the Bureau of Labor Statistics.
Although the Biden Administration pat themselves on the back for gas prices, since they have been in office these costs have for the most part, increased and are a chief contributor to inflation for most of the year.
According to data from Zillow, the typical U.S. monthly rent in August 2022 was right at $2,090, a 12.3% increase from a year earlier. By comparison, average U.S. rent was $1,660 before Biden entered the White House.
With rent hikes adversely affecting millions of Americans, 8.5 million people were behind on their rent at the end of August, about 4 million renters say they’re somewhat or very likely to be evicted before the 2022 Holiday season, according to data from the Census Bureau.
The Labor Department said real average weekly earnings decreased 3.4% over the last 12 months.
The Committee to Unleash Prosperity estimates that purchasing power of a median income household family was down about $4,000 over the past 14 months.
As the government artificially makes more cash available to compete over the same number of homes, prices will inevitably rise. These higher home and rental prices especially harm vulnerable populations and increases a dangerous recession.
Shelter costs had the biggest monthly rise since 1991, at 0.7% in August from the prior month– a giant jump by 6.2% compared to the same time in 2021, per the Bureau of Labor Statistics.
BASIC SHELTER
Meanwhile, mortgage rates also surged above 6% for the first time since the housing crash of 2008. The 30-year fixed rate stood at 2.86% a year ago and at 2.65% in January 2021, when President Biden entered the White House.
Food Costs Year Over Year Changes 2021-2022 September
Eggs 39.8%
Butter 24.6%
Flour 23.3%
Roasted coffee 18.7%
Soup 18.5%
Hot dogs18.3%
2% milk 17.7%
Fresh bakery items 17.1%
Canned fruit 16.6%
Chicken 16.6%
Potatoes 15.2%
Pet food 13.1%
.
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It boggles my mind that the Democrats think they can just keep lying and covering up and ignoring the issue. But remember the Wikileaks email leaks in 2016 – John Podesta emailed that Democratic voters are stupid, and he was right! Inflation affects everyone, regardless of political party. If the Democratic base thinks abortion and climate change are more important than the economy, these people are stupid, short-sighted, and self-defeating. Keep voting for the people trying to destroy you! But liberals will just take more drugs, drink more booze, and commit suicide as their answer.
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Reblogged this on Calculus of Decay .
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