U.S. inflation rose to the highest its been in nearly 40 years in November, according to the consumer price index report released by the U.S. Department of Labor.
Since November 2020, inflation rose by 6.8 percent, which according to the Labor Department is “the largest 12-month increase since the period ending June 1982.”
Energy prices shot up by 33.3 percent and gas prices, which are known for indicating inflation to the American public, skyrocketed by 58.1 percent. Food prices went up by 6.1 percent in just 12 months.
“These changes are the largest 12-month increases in at least 13 years in the respective series,” the report states.
Since October of this year, gas prices increased by 6.1 percent, which contributed to the 3.5 percent overall increase in the energy index. Consumers also experienced rising food prices, which increased on the out-of-home food index 0.7 percent while food at home increased o.8 percent.
Other indexes across the board saw rising prices including “shelter, used cars and trucks, and new vehicles, the indexes for household furnishings and operations, apparel, and airline fares.”
One day before the consumer price index report was released, the Biden administration, Democrats, and Twitter promoted an article that ignored the fact that the economy is still in dire need of pre-pandemic recovery to praise President Joe Biden for “the strongest two-year performance on growth, jobs, and income in decades,” which the author dubbed the “Biden Boom.”
Even BEFORE today's news on UI claims, @RobShapiro had this take on the "Biden Boom."https://t.co/mkKG6mY0ea
— Ronald Klain (@WHCOS) December 9, 2021
Welcome to the Biden Boom. pic.twitter.com/0i00cwRA7x
— The Democrats (@TheDemocrats) December 9, 2021
This propaganda-like response prompted an outpouring of tweets from Republicans and others who mocked the administration’s attempts to spin Americans’ economic frustrations.
Biden Boom pic.twitter.com/kSRLZELL4t
— House Republicans (@HouseGOP) December 9, 2021
"Biden Boom" pic.twitter.com/O0BbdarDkQ
— Curtis Houck (@CurtisHouck) December 10, 2021
The White House should focus on getting Americans back to work instead of telling newsrooms to write about the fake “Biden Boom.”
Voters aren’t fooled, 👇https://t.co/KHsyWqvSHB
— Jim Banks (@RepJimBanks) December 9, 2021
Biden Boom pic.twitter.com/30EZf1bgu5
— House Republicans (@HouseGOP) December 9, 2021
Just last month, a CBS News poll found that 67 percent of Americans disapprove of Biden’s handling of inflation.
New CBS News poll finds that 67% of Americans DISAPPROVE of Joe Biden's handling of inflation. pic.twitter.com/c8O9UAboGE
— TV News Now (@TVNewsNow) November 21, 2021
Polling also suggests that rising inflation due to an economy bloated by federal spending is one of the top issues voters who are mulling over which candidates they want to see in office following the 2022 midterms are considering.
Source: The Federalist
