THE BIDEN EFFECT: Inflation Set To Drive Prices Even Higher In 2022

The past year has been awful for many Americans who were already struggling.

Under Joe Biden, inflation has driven up the cost of everything from gas to groceries. He has been a terrible president for the economy.

The bad news is that we are not out of the woods yet. Prices are likely to keep going up in 2022.

Townhall reports:

Buckle Up: Inflation Set to Drive Consumer Prices Even Higher in 2022

Despite President Biden’s assurances to the contrary, inflationary pressure is apparently here to stay as his administration looks toward the start of his second year in office and may hope for some relief from the negative “Democrats in disarray” narrative swirling around the White House.

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However badly Biden may want the economy to improve, Americans surely wish so more fervently. With the most expensive Thanksgiving and Christmas in memory in the rear-view mirror, there are unfortunately more price hikes to come as manufacturers and producers pass the costs of lasting inflation on to consumers. As The Wall Street Journal announced, “Everything from coffee to mustard is getting more expensive next year.”

Just how much more expensive can things get? Well, as the WSJ reported, “Food prices are estimated to rise 5% in the first half of 2022, according to research firm IRI, though the level of increases will vary by grocers and regions.”

Another five percent increase on food prices comes after the government’s metrics for inflation — the Consumer and Producer Price Indexes — have hit year-over-year highs not seen in nearly forty years. And a new year is not going to suddenly bring relief as long as President Biden’s economic policy continues on its established trajectory. Due to spikes in the Producer Price Index — the cost of goods used by those upstream of consumers — the Consumer Price Index is set to continue spiking as well.

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This is all on Joe Biden.

This is especially bad news for Democrats, as we’re heading into midterm season after the holidays.

 

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