High inflation during President Joe Biden's tenure has driven up overall prices, but some household necessities have experienced larger increases than others, according to Bureau of Labor Statistics data analyzed by the Daily Caller News Foundation. He is said to have been hit hard.
Prices since Biden took office in January 2021 are increased Year-on-year inflation peaked at 9.1% in June 2022 and has slowed to the current annual rate of 3.4% as of December. Certain products, such as household essentials, are becoming much more expensive than others. bread and bakery According to the BLS, products increased by 25% and 26.6%, respectively. (Related: Red Sea traffic plummets after attack, global trade declines)
Beef products have been particularly hard hit by high inflation under the Biden administration, with raw beef prices also rising. steak Grocery store availability rises 24.8% in uncooked ground beef 21.6% increase in raw beef roast According to the BLS, it rose 26.7%. The price for the same time frame is turkey Certain other uncooked poultry products increased by 26.7%.
While fresh produce is more resistant to inflationary pressures, frozen fruit and fruit prices are rising. vegetables According to the BLS, it increased by 23.5% under the Biden administration.Non-alcoholic drink Juice prices have increased 21.6% since January 2021, driven by the subcategory frozen still. juice Beverage prices increased by 31.6%.
December CPI🧵…
Inflation rips the stakes off its chest, lets out a bloodcurdling scream, and tells the Fed it's ready for another round. Real weekly earnings are down 4.5% since January 2021, and the situation is only likely to get worse… pic.twitter.com/NMSoS0riak— Dr. EJ Antoni (@RealEJAntoni) January 11, 2024
Entree accessories have also been hit hard by inflation under the Biden administration, with prices for sauces and sauces soaring. gravy sauce 27.5% increase in spices, seasonings, sauce According to BLS, it rose 22.7%.Other household items whose prices have increased significantly under the Biden administration include baby food and formula27.8% inflation, sugar and sweetsup 22.5%.
Other items such as milk and eggs experienced significant deflation last year, with prices falling by 1.8% and 23.8%, respectively. according to To BLS. Despite the recent decline, milk is still up 17.3%; egg It's still up 35% since Biden first took office.
Shelter costs are also rising faster than general inflation under the Biden administration. expand After rising rapidly last year to 18.6%, the annual total as of December was 6.2%, according to the BLS.
“Inflation is surging again, destroying the narrative that the fight against inflation is over,” Jobs Creator Network President Alfredo Ortiz said in a statement to DCNF following Thursday's BLS report. said. “The prices of goods and services are still rising at nearly twice the Federal Reserve's target interest rate. This high inflation is on top of the historic inflation that occurred during the first two years of President Biden's presidency. As a result, ordinary Americans and small businesses are facing a cost of living crisis. Today's inflation statistics show that the country is heading in the wrong direction, with no relief in sight. The resurgence in inflation is a direct result of reckless spending by the Biden administration and Congress.”
The White House did not immediately respond to a request for comment from DCNF.
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