Inflation Hits 40-Year High

The Consumer Price Index (CPI), a key inflation index, hit a fresh 40-year high in February. The CPI increased 7.9% over the past 12 months, its highest rate since January of 1982.


MAKE NO MISTAKE: Inflation is taxation, and it has gone up every month of Joe Biden’s presidency.


BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:

  • Inflation is a tax on ALL Americans.

  • Inflation has increased every month of Joe Biden’s presidency.

  • In February, the CPI increased by 0.8%. to an annual rate of 7.9%.

  • Real average hourly earnings decreased 0.8% from January to February.

  • Real average hourly earnings decreased 2.6%, seasonally adjusted, from February 2021 to February 2022.

  • Earnings are not keeping up with inflation.

  • Americans are paying more for just about everything because of inflation:

  • Used cars and trucks are UP 41.2%

  • Gasoline is UP 38.0%

  • Lodging away from home is UP 25.1%

  • Bacon is UP 18.8%

  • Peanut butter is UP 15.6%

  • Pork is UP 14.0%

  • Women’s dresses are UP 13.5%

  • Airline fees are UP 12.7%

  • New vehicles are UP 12.4%

  • Eggs are UP 11.4%

  • Coffee is UP 10.5%

  • Baby food is UP 8.4%

  • Transportation services are UP 6.6%

  • Beer is UP 5.3%

  • 2021 went down as the worst year for inflation since 1981.


Instead of addressing the root cause of inflation, out-of-control government spending, President Biden and House Democrats continue to push their Far-Left Socialist agenda, which will only exacerbate America’s economic crisis.


Source: RNC