Biden has placed a serious economic burden on every American with the soar prices due to Bidenflation and gas prices have been particularly bad under the destruction of Bidenomics, with prices soaring higher than in the last seven years.
Biden’s misnamed “Inflation Reduction Act” has done the opposite of reducing inflation. It has rather done the opposite, actually. Especially for our energy prices. All energy prices, of course, but gasoline in particular.
Per the New York Post:
Since January 2021, electricity prices have soared 29.4% — 50% more than overall inflation — rising 13 times faster than the previous seven years, according to a Wall Street Journal analysis of Bureau of Labor Statistics data.
Meanwhile, in those seven years before Biden took office, electricity prices rose just 5%.
News of the astronomical increase in electricity came in the wake of March’s Consumer Price Index, which showed US inflation rose 3.5% in March.
Wednesday’s data from the Bureau of Labor Statistics showed that on a monthly basis, price growth rose 0.4%, primarily driven by shelter and gasoline, which contributed to more than half of the advance.
And as the paper adds:
From January 2021 to this month, electricity prices rose from $0.14 per kilowatt-hour to $0.17 — a 28% boost, according to the report.
And gasoline prices, while down from their 2022 peak, are still 52.1% higher today than when Biden took the White House, Fox Business reported.
Biden is killing us.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
