The text discusses the impact of inflation under President Biden’s administration.
It highlights a 16.7% inflation rate, a 3.1% decline in real wages, and the resulting strain on Americans’ finances.
The TIPP CPI indicates significant differences in inflation rates compared to the BLS CPI, with food and energy prices notably affected. (Trending: Kid Rock Rages Against ‘Woke’ Target)
“According to the Labor Department, average hourly earnings for all employees dropped 3.1% to $11.07 in November from $11.42 in January 2021 when Biden assumed office,” the report noted.
“Despite nominal salary increases at their fastest pace in years, American workers are now worse off than when Biden took office.”
“In short, the prices have increased by 16.7% under Biden’s watch, while real wages have declined by 3.1%, meaning Americans have taken a 3.1% pay cut under Biden’s watch,” the report added.
Concerns about inflation and its impact on wages are prevalent among Americans, leading to cutbacks in various spending categories.
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