Oct 17, 2022

With Midterms Weeks Away, Inflation Continues To Worsen Under Biden Administration

Wages aren't keeping up as inflation continues to rise, new CPI numbers show.
With Midterms Weeks Away, Inflation Continues To Worsen Under Biden Administration

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No relief from inflation: The Consumer Price Index rose 8.2 percent through September, higher than expected considering the Federal Reserve's interest rate hikes intended to lower the numbers. Falling gas prices had caused inflation to drop slightly last month, but now that gas prices are about to surge, inflation is expected to keep rising.

How much more are you paying now than a year ago?

⛽️ Gasoline: +18.2 percent

🛒 Groceries: +11.2 percent

⚡️ Utilities: +19.8 percent

Real wages: According to data released by the Federal Reserve, most wages have failed to keep up with inflation, meaning people are making less money than they were before the Biden administration. Researchers said the median decline in real wages was over 8.5 percent.

A misalignment in priorities: According to a new Harvard-Harris poll, the most critical issues for voters are inflation, the economy and jobs, and immigration, followed by crime and drugs.

According to the same poll:

  • Democratic leaders appear to be more concerned with January 6, women’s rights, climate change, and guns.
  • Republican leaders seem to be more focused on immigration, price increases, and the economy.

Big picture

With midterms only a month away, the Biden administration has failed to keep up with the two most important issues for voters: inflation and the economy. Unable to win on the issue that matters most, Democrats have instead opted to demonize Republicans and focus on abortion and other cultural issues.

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