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.
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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.
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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.
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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
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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
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Unfortunately, it’s probably going to get worse before it gets better.
Cross posted from American Lookout.
Source material can be found at this site.