by WorldTribune Staff, January 11, 2024

Team Biden, which continues to insist that “inflation is down” in an attempt to gaslight the public into believing “prices are down,” would rather the public not see the following chart:

The chart by Bloomberg indicates:

• Headline costs are at record highs
• Core costs are at record highs
• Food costs are at record highs
• Fuel costs are on the rise again

The bottom line is that the cost of living for the average American under Team Biden’s economic policies remains far too high as millions continue to live paycheck-to-paycheck.

Four of the six major grocery store food group indexes increased over the last month.

The index for meats, poultry, fish, and eggs rose 0.5 percent in December, led by an 8.9-percent increase in the index for eggs.

The index for food away from home rose 5.2 percent over the last year.

The index for limited service meals rose 5.9 percent over the last 12 months, and the index for full service meals rose 4.5 percent over the same period.

Joe Biden’s handlers were quick to point out that real hourly earnings was positive in December (+0.8% YoY) but analysts note that number is the aggregate of all American workers.

“If we drill down to the ‘average Joe’ — production and non-supervisory jobs — their wages are up 17%” since Biden was installed. “The only problem is, the cost of food since then has surged almost 21%,” Zero Hedge pointed out.

Breitbart’s John Carney noted that December marked “the thirty-third consecutive month with annual prices rising significantly faster than the two percent target seen as healthy by the Federal Reserve.”

Carney added: “The market has been pricing in a rate cut from the Federal Reserve as early as March. Rising inflation, however, may force the Fed to hold off on rate cuts. The Fed is already facing scrutiny over the timing of rate cuts during an election year while inflation is still significantly above its two percent target.”

Former President Donald Trump said in an interview with Breitbart that he thinks the Fed will cut rates in an effort to help Biden’s re-election efforts.

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  Bidenflation: Food prices at record high, cost of living, energy prices rising again, paycheck-to-paycheck, WorldTribune.com