DESPITE THE JOE BIDEN SPIN INFLATION IS STILL BAD

DESPITE THE JOE BIDEN SPIN INFLATION IS STILL BAD

Shared By Peter Boykin – American Political Commentator / Citizen Journalist

DESPITE THE JOE BIDEN SPIN INFLATION IS STILL BAD

Inflation in March came in at 5%, down from 6% in February and the lowest level in nearly two years. However, the rate is still historically high, despite the Biden regime claiming this report is proof that their economic policies are working.

Perspective: These monthly inflation reports measure inflation today vs 12 months ago. So last month’s prices were 5% higher than in March of 2022. But in March of 2022, inflation was already 8.5% higher than in 2021. So at this point, we’re compounding inflation.

Let’s start with some good signs in the March inflation report:
The following areas saw a decline in prices:

Gasoline declined by 17.4%
Used vehicles declined by 11.2%

The bad news is that many of the areas that matter most to Americans’ daily lives continued to skyrocket:

🛒 Groceries: +8.5%
💡 Electricity: +10.2%
💨 Home gas: +5.5%
🏢 Rent: +8.8%
✈️Airfare: +17.7%
🍝 Rice/Pasta: +11.2%
🍞 Bread: +15.2%
🍗 Chicken: +6.5%
🍳 Eggs: +36%
🥛 Dairy: +10.7%

Biden takes a victory lap: On Instagram, the White House posted a graphic that said: “Good News: Inflation has fallen by 45% from its summer peak under Biden.”
The caption read: ‘This progress is more breathing room for hard-working Americans.”

Reality check: Inflation is down 45%, true. But it’s down from the 9.1% that also happened under Joe Biden, which was the highest inflation we’ve had in over 40 years.

Great job, Joe.

Here’s the uncomfortable truth that the Biden regime doesn’t want the American people to know:

We’ve had 23 straight months of 5% or higher inflation.
Americans’ real wages have declined for 24 months in a row.

[Source: BLS, Statista]

https://www.bls.gov/news.release/pdf/cpi.pdf

https://www.statista.com/statistics/273418/unadjusted-monthly-inflation-rate-in-the-us

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