Staff Reports
The latest inflation numbers are in, and it looks like everyday Americans are continuing to feel the squeeze on their wallets. In November, prices rose by 3.1 percent from a year earlier, marking the thirty-second consecutive month with annual prices rising significantly faster than the two percent target deemed healthy by the Federal Reserve. That’s right, folks, inflation is still running rampant, and it doesn’t look like it’s going to slow down anytime soon.
Inflation Picks Up Slightly as #Bidenflation Persists for 32nd Straight Month 😱😱😱🔥🔥🔥❗️ https://t.co/8fhjBDvPXU
— Neesie 🇺🇸 (@neesietweets) December 12, 2023
The Biden administration’s reckless spending has been a major contributing factor to this economic turmoil. With consumer inflation hitting a peak of 9.2 percent back in June of 2022, it’s clear that the failed policies of the Biden administration are hurting hard-working Americans. The Federal Reserve has been scrambling to raise interest rates at a record pace to try and combat this crisis, but it seems like they’re fighting an uphill battle against the administration’s out-of-control spending.
Despite attempts by the Biden administration to spin the narrative and claim economic achievements under “Bidenomics,” the reality is that the American people are feeling the strain of high inflation and are not buying into the administration’s propaganda. President Biden’s approval ratings are plummeting as public dissatisfaction with the economy continues to grow.
Core prices, which exclude volatile food and energy items, have surged by four percent compared to a year ago. This is putting a heavy burden on American families who are already struggling to make ends meet. And while the Biden administration tries to downplay the severity of the situation, the hard data doesn’t lie.
But it’s not all doom and gloom. Energy prices saw a decline in November, falling 2.3 percent compared with October. Gasoline prices also dropped by six percent in the month, providing a slight relief for American drivers. However, the prices of goods excluding food and energy were stagnant compared to a year earlier, and the prices of new vehicles continued to decline, highlighting the ongoing economic challenges faced by American consumers.
As the Biden administration continues to push its radical agenda, it’s clear that hard-working Americans are paying the price. With the economy in turmoil and inflation running rampant, it’s time for a change in leadership that prioritizes fiscal responsibility and puts the needs of everyday Americans first.
