Inflation has led to a significant increase in the cost of goods and services, with prices rising by 19.27% since 2020.
This surge in prices, including essential items like ground beef, coffee, fruits, and vegetables, has impacted voters, particularly in key swing states.
President Biden’s economic policy, known as “Bidenomics,” has come under scrutiny as inflation continues to affect consumers. (Trending: Donald Trump Confronts Bud Light CEO)
“It requires $119.27 to buy the same household goods and services as you could with just $100 before the pandemic.”
That’s Bidenomics! pic.twitter.com/BiymUUhFKC
— RNC Research (@RNCResearch) November 29, 2023
Despite a recent decline from 2022 highs, inflation remains a concern, with the Federal Reserve not expecting a return to normal levels until 2025.
“The reality is setting in for consumers that prices rarely go down, especially not in the aggregate” Wells Fargo & Co. Senior Economist Sarah House said.
“And so really the best they can hope for is prices leveling off and — at the very least — growing at a slower rate,
“Hopefully they level off and give a chance for incomes to continue to grow.”
“It’s a huge slap in the face and I’m surprised that some people are saying inflation’s coming down,” Ryan Essenburg stated.
“It’s hard. You go get your bill and it’s like, ‘What’s happening here?’”
Biden’s attribution of inflation to “price gouging” has been met with skepticism, and consumers are feeling the strain of rising prices.
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