Just two months after the Biden administration and Hill Democrats passed the Inflation Reduction Act with the alleged goal of helping Americans suffering from steep prices, President Biden and Speaker of the House Nancy Pelosi attended an event with a price per seat that is baffling.
At this time in American society, citizens are faced with rising prices in almost every facet. While gas prices that were near record levels have reduced, in almost every other sector of major spending Americans are taking the toll of Biden’s economy.
Breitbart reported on the rise in prices of basic consumer goods over the past few months.
Prices rose 8.2 percent compared with a year earlier, the latest Consumer Price Index showed on Tuesday, evidence that the price stability sought by the Federal Reserve remains an elusive and distant destination.
Compared with August, prices were up 0.4 percent, the Department of Labor’s Bureau of Labor Statistics said.
Core CPI, which strips out volatile food and energy prices, rose 6.6 percent compared with a year ago. That is the highest rate of core inflation since 1982, surpassing the recent 6.4 percent highs hit in February and March. For the month, core prices were up 0.6 percent.
While prices in the consumer market are rising, things could be far worse if it weren’t for some industry’s declining prices that have offset inflation.
“Inflation would have been even higher if not for declining energy prices. Energy commodities fell 4.7 percent in the month, although they are up 19.7 percent compared with a year ago. Gasoline prices fell 4.9 percent for the month but are still up 18.2 percent from a year ago. This provided some relief to price pressures but that is likely to be short-lived as gas prices are once again rising. Electricity prices rose 0.4 percent and are up 15.5 percent for the year. Piped natural gas prices jumped 2.9 percent and are up 33.1 percent for the year,” Breitbart reported.
In the wake of Americans suffering from steep prices due to inflation Joe Biden and Nancy Pelosi are sitting pretty, planning to attend a Hollywood event where ticket prices are being sold to couples for as high as $50K.
The majority of people in the United States of America are at home dwelling over every dollar spent, yet their fearless leader is throwing around sums of money some could only dream of.
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