Here’s How Much More Everyday Items Cost Than When You Voted Four Years Ago
High inflation during President Joe Biden’s term will result in voters paying significantly higher prices as they cast their ballots in the 2024 election.
Prices since November 2020 have increased by roughly 21%, with year-over-year inflation under Biden peaking at about 9% in June 2022 and decelerating to its current annual rate of 2.4% as of September, according to data from the Bureau of Labor Statistics analyzed by the Daily Caller News Foundation. Price hikes for a slew of products have well-exceeded the overall price rise, including household staples like eggs and butter, which rose by approximately 163% and 50% between November 2020 and September 2024, respectively.
Beef products have also been hit hard by Biden-era inflation, with prices for uncooked beef roasts rising over 31%, uncooked ground beef climbing nearly 27% and uncooked beef steaks increasing approximately 28%, according to BLS. Meanwhile, the price of bread is up over 23% and bakery products up almost 27%.
“Inflation has been one of the most brutal drivers of the pressure being felt by everyday consumers in recent years. Almost nobody can keep up with the cumulative rise in prices,” O.H. Skinner, executive director of the Alliance for Consumers and the former solicitor general of Arizona, told the DCNF. “It’s deeply upsetting to many people when headlines focus on individual inflation prints or annual inflation numbers and don’t recognize that the prices staring at consumers from the store shelves are shocking because the inflation that has cumulatively built up has reshaped the shopping experience in a brutal way.”
Inflation sat at just 1.4% when Biden took over from former President Donald Trump while cumulative inflation during Trump’s presidency was just around 8%. A May ABC News / Ipsos poll found 44% of 2,200 potential voters surveyed trusted Trump on inflation while just 30% trusted Biden.
The Federal Reserve raised its federal funds rate to a 23-year high range of 5.25% and 5.50% in July 2023 in a bid to combat price hikes, holding the rate steady for eight straight meetings before announcing a 0.50% cut in September. The combination of high inflation and elevated interest rates has dogged American wallets, with delinquent credit card balances reaching their highest level in twelve years in the first quarter of 2024 and the personal savings rate falling from over 25% during the pandemic to 4.8% in August.
Some economists attribute elevated inflation to profligate government spending, with the national debt growing from $27.75 trillion when Biden took office on Jan. 20, 2021, to $35.69 trillion on Wednesday.
The price of non-alcoholic beverages and juices rose almost 22.5%, bolstered by the subcategory of frozen non-carbonated juices and drinks, for which prices inflated by nearly 51%. Together, increases in food and shelter prices accounted for more than three quarters of inflation in September, with the food index experiencing a 0.4% month-over-month increase, far higher than its August increase of 0.1%.
“Inflation has increased by 21% under the Biden-Harris administration, resulting in declining real wages and a cost of living crisis for ordinary Americans,” Alfredo Ortiz, president of the Jobs Creator Network, said in a statement to the DCNF following Thursday’s BLS report. “Only by electing conservatives who believe in a sound dollar, economic growth, and deficit reduction can we finally make America affordable again.”
The White House did not immediately respond to a request for comment.
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But we want the borders invaders to be allowed to vote! American oil part 2
Ask yourself what kind of President/Vice President allows our Nations Oil reserves to be sold off to China? A Global enemy of freedom? Allows thousands of unvetted males to enter our Country, for what reasons? to run their Chinese pot farms? What kind of leadership allows China to open up Nuclear submarine platforms off shore? What kind of President allows Chinese spy balloons to do fly over our Nation? our Country? Or buy tracts of land next to our military installations? What kind of President/VP allows our Country to purchase rotted dry wall?, poison dog food? lead painted toys? Covid plagues without compensation from the offenders? Or allows China access all the oil from Iran they want, because we lifted all the restrictions for those sales? What kind of President allows his family to take in Millions from the Chinese communist party, an stash the money them in hidden off shore accounts? Our oil industry has been under attack from Biden Harris since they have been in office with their China first policies trillions in additional debt for no good reason, even the FBI says China is our biggest National threat! Why are Biden and Harris and Waltz so in love with China?
If she could not tell the person sitting beside her for four years was a senile old fart, not playing with a full deck, how can she expected to run the United States?.