This is #Bidenflation.
Moody’s Analytics says the typical US household is spending about $460 more every month than they did last year to purchase the same basket of goods and services.
"Moody’s Analytics senior economist Ryan Sweet calculated the figure based on data released Friday by the Bureau of Labor Statistics that showed the Consumer Price Index had jumped 8.6% in the 12-month period ending May 31 – the largest increase since December 1981.
Sweet compared average US household spending in May to what would have been spent in 2018 and 2019, when annual inflation averaged 2.1%.
“Having inflation at 8.5% on a year-ago basis, compared with the 2.1% average growth in 2018 and 2019, is costing the average household $346.67 per month to purchase the same basket of goods and services as they did last year,” Sweet told The Post. “However, the pure cost for households for having inflation running at 8.5% is $460.42 per month.”
Soaring inflation has some economic experts worried a recession is coming, as President Biden and the Federal Reserve face pressure to enact policies to slow down the increase."
This is the lies the Biden White House & the Democrats told us over the last year about inflation