Consumer Prices Rise to 9.1% As Americans Struggle Under Biden’s Economy

Inflation was already at a 40-year high.

QUICK FACTS:

• The annual inflation rate rose to 9.1 percent in June, according to recent Labor Department statistics released on Wednesday.
• Economists expected the problem to be troubling, predicting a rise of 8.8 percent, up from May’s 8.6 percent increase.
• The statistics outpaced the past two months and are especially troubling due to the increased Consumer Price Index, which was up 1.3 percent.
• June is the 13th straight month that inflation has been higher than five percent, which creates an environment where price increases top decade highs achieved last year.

Brutal inflation report shows a devastating increase of 9.1.% year-over-year. Bidenflation is wreaking havoc on workers, families & small businesses – a consequence of anti-American energy policy, exorbitant borrowing & printing of money & counterproductive federal regulations.

— Ron DeSantis (@GovRonDeSantis) July 13, 2022

CRITICAL PRICE INCREASES:

• Grocery store prices were up 12.2 percent annually and saw an increase of one percent last month.
• Energy prices are up a whopping 41.6 percent annually and saw an increase of 7.5 percent since May of 2022.
• Gasoline has been a point of contention for many, and with good reason, as it saw an 11.2 percent increase in June and a 59.9 percent increase over this time last year.

BACKGROUND:

• The economic squeeze on American families has instigated a blame game on Capitol Hill.
• Republicans have blamed President Joe Biden for his economic choices, including the choice to shut down domestic oil extraction.
• Democrats, on the other hand, have attempted to blame higher prices on corporations and price gouging, which has been largely met with scorn, even by liberal economists.
• Biden has blamed both his predecessor President Donald Trump’s policies as well as Russian President Vladimir Putin’s conflict with Ukraine for the price increases.