BIDEN ECONOMY: Inflation Remains Historically High in July with the Price of Food Increasing the Most Since 1979
This morning the Bureau of Labor Statistics (BLS) released its report for July and the results continue to show inflation ravaging America.
Inflation in America remains at historic highs. While the price of gasoline decreased in July, this was offset by the increase in food costs which rose to the highest levels since 1979.
The BLS reports:
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.
The gasoline index fell 7.7 percent in July and offset increases in the food and shelter indexes,
resulting in the all items index being unchanged over the month. The energy index fell 4.6 percent over the month as the indexes for gasoline and natural gas declined, but the index for electricity increased. The food index continued to rise, increasing 1.1 percent over the month as the food at home index rose 1.3 percent.
The index for all items less food and energy rose 0.3 percent in July, a smaller increase than in
April, May, or June. The indexes for shelter, medical care, motor vehicle insurance, household
furnishings and operations, new vehicles, and recreation were among those that increased over the month. There were some indexes that declined in July, including those for airline fares, used cars and trucks, communication, and apparel.
The all items index increased 8.5 percent for the 12 months ending July, a smaller figure than the 9.1-percent increase for the period ending June. The all items less food and energy index rose 5.9 percent over the last 12 months. The energy index increased 32.9 percent for the 12 months ending July, a smaller increase than the 41.6-percent increase for the period ending June. The food index increased 10.9 percent over the last year, the largest 12-month increase since the period ending May 1979.
In 2016 after President Trump won the election, liberals across media warned of the dangers of the Trump Presidency. There were even warnings on the cost of food. Foodbeast warned that under Trump’s presidency the cost of food will likely increase.
With the dust mostly settled following one of the most divisive Presidential elections in American history, we have our new president-elect: Republican nominee Donald Trump.
Reactions have already sprung up all across the world over what this means for America. Some of these reactions have considered the potential future for the food industry. We’ve taken a look at articles from the Wall Street Journal, Eater, and others to figure out what president-elect Trump’s plans outline for the future of your food. The Cost of Food Will Likely Increase
Instead, President Trump brought the most prosperous economy in US history to America. This was despite the FED trying to derail Trump’s economy every chance it got.
Today food prices are increasing as much as they were during the Carter years going back to 1979. Under Biden food is tremendously expensive. Ask any American who dines out and they will tell you of the doubling in costs for meals at restaurants across the country.
The Biden economy is hurting Americans – period.