New consumer price data released just this week came in “hotter than expected” in December, increasing at an annual rate of 3.4%. This is just the latest example that Bidenomics continues to fail Americans, who are forced to pay more for everyday necessities while earning less.
MAKE NO MISTAKE: Bidenflation is a direct result of Joe Biden’s out-of-control government spending. I have joined together with my House Republican colleagues to rein in Biden’s reckless spending and restore fiscal responsibility to Washington. Inflation is a tax on ALL Americans.
- When Joe Biden took office, inflation was at just 1.4%
- Since Joe Biden took office inflation has risen by 17.2%
Americans are paying more for just about everything because of inflation:
- Motor vehicle insurance is UP 20.3%
- Uncooked beef steaks are UP 11.2%
- Motor vehicle repair is UP 10.3%
- Transportation services are UP 9.7%
- Nonprescription drugs are UP 8.3%
- Baby food and formula is UP 7.3%
- Rent of primary residence is UP 6.5%
- Shelter is UP 6.2%
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