Washington, D.C. – President Biden loves to call his agenda, “Build Back Better,” but the only thing building is inflation.
Today, more bad news was announced that confirmed what Americans are feeling in their wallets: Consumer prices rose higher than estimates in September.
The Consumer Price Index rose nearly half a point last month alone, a 5.4% year-over-year increase – the highest rate in 13 years. The two most shocking figures came in the areas that Americans feel the most: Energy and food costs.
“Gasoline prices rose another 1.2% for the month, bringing the annual increase to 42.1%. Fuel oil shot up 3.9%, for a 42.6% year over year surge.
“Food prices also showed notable gains for the month, with food at home rising 1.2%. Meat prices rose 3.3% just in September and increased 12.6% year over year.”
Supply chain, employment, and other issues caused by the Biden Administration’s bungled policies continue to plague our economy, with more spending and regulation on the way.
Statement from NRSC Spokesman T.W. Arrighi: “Wallets across America are screaming for mercy from the economic policies of President Biden and congressional Democrats. Inflation is at a thirteen-year high, and energy and food costs continue to skyrocket. Unfortunately, economic illiteracy in the Democrat Party appears to be running as rampant as inflation as they plan to double down on their errors. Hopes for ‘transitionary inflation’ are fading quicker than Democrats’ hopes in 2022.”