Americans’ income evaporating under the heat of Biden’s inflation
A new report this week told of producer prices skyrocketing by “a staggering” 9.7% for the 12 months ending January, which means inflation was “near the highest pace on record.”
But consumers know, if they are buying food, fuel and housing, that that doesn’t describe the catastrophe adequately.
The Washington Examiner quoted statistics on producer costs from the Bureau of Labor Statistics, which came just days after the same feds reported consumer prices for January were up by 7.5%, the “fastest annual rate in four decades.”
It’s just one of the calamities facing Joe Biden as his party faces the possibility of a blowout in the midterm elections in a few months, where the party out of the White House most often gains a good number of House seats. – READ MORE
Responses