The latest Consumer Price Index (CPI) data reveals continued high inflation under President Joe Biden's administration. Since Biden took office, food prices have increased by 21.5%, gas prices by 54.8%, electricity by 29.0%, car insurance by 51.7%, and airline fares by 39.9%. Despite these figures, Biden highlighted some positive trends, noting that core inflation is at its lowest level since April 2021, grocery prices have fallen for four consecutive months, and gas prices average below $3.50 across the country. Critics argue that inflation remains high, with overall inflation up 19.3% over the last 40 months and shelter inflation at 21.4%. The period of high inflation has now lasted for 38 consecutive months, the longest since the 1980s, contradicting Biden's earlier claims that inflation would be 'transitory' and 'temporary.'
Inflation is a direct result of Joe Biden's policies. https://t.co/1gjnnc5eZU
We are now in the longest period of high inflation since the 1980s — 38 straight months above 3%. Biden insisted inflation would be “transitory” and “temporary.” He was lying. https://t.co/NzFudroA3X
In the last 40 months Biden has been in office • Overall Inflation: ▲19.3% • Food Inflation: ▲21.2% • Electricity Inflation: ▲29.3% • Shelter Inflation: ▲21.4% • Autos Insurance Inflation: ▲51.5% Biden "let that happen" — "We can't let that happen" AGAIN https://t.co/Og1HjpaUaC
Biden on CPI: “Prices are still too high, but today’s report shows welcome progress on lowering inflation… Core inflation is at its lowest level since April 2021, grocery prices have fallen for four months in a row, and gas prices are below $3.50 on average across the country.”
Another month of Biden, another month of inflation-inducing spending devastating American households. From today’s CPI inflation data… Since Biden took office: FOOD: +21.5% GAS: +54.8% ELECTRICITY: +29.0% CAR INSURANCE: +51.7% AIRLINE FARES: +39.9% https://t.co/oaNIFFIeVO