Inflation under the Biden Administration has resulted in American families losing over $6,000. The Bureau of Labor Statistics notes the Consumer Price Index is up 7.7% from October 2021. With interest rates causing families to lose another $1,300, Americans are “$7,400 poorer,” said EJ Antoni, Heritage Foundation researcher for regional economics in the Center for Data Analysis.
From The Daily Signal:
The food index rose 0.6%, the energy index rose 1.8%, and the fuel oil index rose 19.8% while the used car and truck index decreased 2.4% and the apparel index decreased 0.7%, the report said. “With winter setting in, Americans are facing 19% higher heating bills on average, due to the administration’s war on American energy,” Antoni said.
