Inflation Nation: Consumers Struggle In Biden’s America

We seemingly can’t get a break living in Biden’s America.

From all angles we’re being bombarded with a cacophony of negativity that it’s no wonder the American people are unhappy.

The military has failed us, the president has failed us; what more does Biden want?

The wild spending habits of Joe Biden and his Democrat cohorts have caused a skyrocketing rate of inflation which directly effects the American consumer. Prices for most common goods and services have increased, and it’s the common American worker who feels the brunt of it.

And to top it off, it’s been reported that Joe Biden is breaking his pledge to lower taxer taxes on everyone making less than $400,000 per year. Now, anyone making $50,000 – some reports even say $40,000 – per year will see an increase in their tax bill. This is another devastating blow to the American consumer who already is struggling with increased prices.

Consumer prices rose again in August, albeit at a slower pace than earlier in the summer.

The Consumer Price Index rose 5.3% compared with a year ago, the Department of Labor said Tuesday. On a monthly basis, the CPI rose 0.3%.

That continues the trend seen since January as the U.S. economy has been wracked by soaring prices and ongoing supply disruptions. But the resurgence of coronavirus infections has slowed parts of the economy, relieving some of the inflationary pressure.

Economists had forecast a 5.3% annual gain and 0.4% compared with the prior month.

Despite repeated assurances from Federal Reserve officials that they can contain inflation and that the current bout of rising prices is only transitory, the public increasingly expects more inflation.

The indexes for gasoline, household furnishings and operations, food, and shelter climbed higher in August.

Excluding food and energy, prices rose just 0.1% for the month. Compared with a year ago, core inflation was up 4.0%. Both were below the consensus forecast.

Food prices rose 0.4% from July to August and were up 3.7% compared with a year ago. Gasoline rose 2.8% for the month and is up 42.7% from a year ago, when prices were extremely depressed.

New vehicle prices rose 1.2% in August and are up 7.6% from a year ago. Used vehicle prices dipped 1.5% but remain 31.9 percent above the year ago level.

Do we miss President Trump yet?

Author: Sebastian Hayworth