Joe Biden has been president for barely six months and America already has an inflation problem.
According to a new poll, most Americans expect things to get even worse under Biden.
It’s hardly surprising.
The Washington Examiner reports:
Gloom: 88% fear higher inflation under Biden, bacon up 8.4%, gas 45%
Virtually all people in the United States, 88%, believe inflation is here to stay and will soar more, continuing a troubling trend under President Joe Biden.
While the White House has given conflicting signs about the inflation potential, projections shared with Secrets from the Statista Research Department show it increasing at about 2.5% through 2024 and “tapering off” by 2026. It’s currently at about 5.4%.
And people are feeling the heat, paying 45% more for gas, 44% more for fuel oil, 5.6% more for milk, and even 8.4% more for bacon.
As a result, many are bummed out and ready to sock it to politicians. The hashtag #Bidenflation has been trending recently.
In a new Skynova survey provided to Secrets today, 61% said that inflation will hurt them overall and especially whack the elderly, young, and middle-income families.
Few are not concerned about the impact. Skynova said that 83% are at least somewhat concerned about it.
This problem touches so many aspects of people’s daily lives.
Here are the items really driving up inflation:
Car rental 87.7% (y/y change)
Used cars 45.2%
Gas 45.1%
Laundry machines 29.4%
Airfare 24.6%
Moving 17.3%
Hotels 16.9%
Furniture 8.6%
Bacon 8.4%
TVs 7.6%
Fruit 7.3%
Shoes 6.5%
Fresh fish 6.4%
New cars 5.3%
Milk 5.6%
Rent (OER) 2.3%— Heather Long (@byHeatherLong) July 13, 2021
JUST IN – US Treasury Secretary Yellen now sees "several more months of rapid inflation" and worries about the impact on home buyers.
— Disclose.tv
(@disclosetv) July 15, 2021
Can you imagine the media outrage if inflation hit a 13 year high during the Trump Administration?
— House Judiciary GOP (@JudiciaryGOP) July 15, 2021
Biden and the Democrats’ massive spending spree is putting us on the verge of an inflation crisis and could destroy the wealth of hard-working Americans.https://t.co/3XkhoNY1fF
— Senator Ted Cruz (@SenTedCruz) July 15, 2021
Unfortunately, it’s probably going to get worse before it gets better.
Cross posted from American Lookout.
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