Final pre-election prices: How much prices have risen under Biden – Washington Examiner

The consumer price list for September was released on Thursday. It showed that inflation was 2.4% for the year ending in the month, close to the Federal Reserve’s 2% target. Despite the recent slowdown, inflation remains the number one concern on voters’ minds, considering years of rising inflation.

Overall, inflation as measured by the consumer price index has risen nearly 20% since January 2021, when Biden became president. However, rising inflation has been more or less negative, depending on the good or service in question, and inflation is playing a major role in the race between former President Donald Trump. and Vice President Kamala Harris.

Food

Food is perhaps the best choice viscerally experienced inflation and. Families eat out every day and go to the grocery store regularly, so they are familiar with how much or how little groceries cost. That’s why the Trump campaign took pains to highlight how much the prices of various foods have risen under Biden.

Since January 2021, grocery prices have, on average, risen by 21.6%, while meals at restaurants now cost about 24% more than they did then. Beef is 43% more expensive than before Biden, while chicken breasts experienced 16.7% inflation.

Meanwhile, fruit and vegetable prices have risen by over 14%, milk prices have risen by 16%, cereal and pastry products have become more expensive by 26%, sugar and sweets have risen by 24%, and butter prices are now 37% higher than January 2021.

Strength

Energy prices, while fluctuating for a variety of reasons, have also risen under Biden. Gas prices peaked in mid-2022 during the worst period of inflation and have since come down but are still higher than 38%. The price of fuel oil also increased by 31%.

Electricity prices have also gone up. They are up 3.7% over the past year, following higher than average price levels. However, as of January 2021, the cost of home improvement has increased significantly. Electricity prices have risen more than 28% since Biden took office.

Consumer goods

Furniture is 15.8% more expensive than in January 2021, clothing and apparel prices are up almost 12%, new cars cost about 18.8% more, and the value of used cars used increased by more than 13%. However, in some good news, video and audio products, such as televisions, are actually cheaper than 11% over the past few years.

Services

Housing prices have also caused problems for consumers. According to the CPI, housing costs across the board have risen 23% under Biden, and average rent prices have risen by the same amount.

Medical care services have become 8.5% more expensive, while transportation services, which include things like car insurance and airfares, have risen more than 40% in just a few years.

Prices for entertainment services, such as subscriptions to streaming services, cable and movie tickets, have increased nearly 16% under the Biden administration.

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While inflation is falling and is close to the Fed’s 2% target, inflation is still a big talking point from Republicans and Trump, who has used it as a way to attack Biden and now Harris, because voters the gunmen are already feeling it.

Due to inflation, the Fed is also forced to raise interest rates to their highest level since the turn of the century, making things like car loans more expensive and raise mortgage rates to the point where housing is unaffordable. for most people in the United States.