President Joe Biden and the Democrats’ doomed fate may have just been sealed after the latest figures show grocery store prices rising at the fastest pace since 1979.
Biden went to California and had no choice but to address the shocking inflation numbers.
After two years of Biden telling us it was “transitory,” the administration is now saying it is not coming down quickly.
Biden was caught flatfooted, again, by rising inflation.
The numbers were historically bad for Biden, with grocery store prices rising 11.9 percent, the fastest pace of inflation since 1979.
If you think Biden will rise to the challenge, this is what he said today:
“Putin’s Price Hike hit hard in May here and around the world: high gas prices at the pump, energy, and food prices accounted for around half of the monthly price increases, and gas pump prices are up by $2 a gallon in many places since Russian troops began to threaten Ukraine.
“Even as we continue our work to defend freedom in Ukraine, we must do more—and quickly—to get prices down here in the United States.”
Inflation just hit a NEW 40-year high.
Overall CPI: +8.6% since last year
Fuel Oil: +106.7%
Meat, Poultry, & Fish: +13.1%
Used Cars: +16.1%
Airline Fares: +37.8%
Real Average Hourly Earnings: -3%
— Jacki Kotkiewicz (@jackikotkiewicz) June 10, 2022
According to Bloomberg, these are the gruesome numbers:
CATEGORY INCREASE (YOY) HISTORICAL
- Airfares 37.8% Nov. 1980
- Energy 34.6% Sept. 2005
- Delivery Services 16.4% June 2010
- Vehicle parts 15.3% Record
- Food at home 11.9% April 1979
- Movies, theaters, concerts 6.4% May 2003
- Rent of primary residence 5.2% Feb. 1987
- Jacki Kotkiewicz, director of policy research for the GOP said:
- Inflation just hit a NEW 40-year high.
- Overall CPI: +8.6% since last year
- Gas: +48.7%
- Fuel Oil: +106.7%
- Meat, Poultry, & Fish: +13.1%
- Milk: +15.9%
- Eggs: +32.2%
- Coffee: +15.3%
- Used Cars: +16.1%
- Airline Fares: +37.8%
- Real Average Hourly Earnings: -3%