Since the Biden Administration started calling the shots back in January, inflation in American has reached a 13 year high. If you’ve rented a car, flown on a plane, or picked up a steak recently at the supermarket, you know prices are going up.
But just when thought things couldn’t get any worse, the September numbers have proved the rapid increase in prices for everyday items isn’t “transitory” as President Joe Biden has repeatedly claimed.
Wholesale prices rose by 8.6 percent compared to September 2020, matching the largest increase on record.
“The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.6% last month from September, pushed higher by surging gasoline prices. Excluding volatile food and energy prices, wholesale inflation was up 0.4% in October from September and 6.8% from a year ago,” the Associated Press reports. “More than 60% of the September-October increase in overall producer prices was caused by a 1.2% increase in the price of wholesale goods as opposed to services. A 6.7% jump in wholesale gasoline prices helped drive goods prices up.”
Senator Ted Cruz was quick to take to Twitter to highlight just how out of control inflation is becoming under Joe Biden’s watch. “Is this what Biden meant when he said he was going to “Build Back Better”?
Joe Biden and the Democrats have repeatedly scared Americans with talks of energy prices going up, and some analysts claim we’ll see monthly heating bills up 50% from last winter.
When Bloomberg journalist Tom Keene asked Energy Secretary Jennifer Granholm about Biden’s plans to bring gas prices down, her only response was to laugh uncontrollably before suggesting that “oil is a global market controlled by a cartel”, and that they have no control over oil production.
Further, the supply chain crisis is starting to impact homeless shelters and food kitchens across the country.
Tommy Pigott, Rapid Response Director at the GOP highlighted the fact that for 8 months in a row, annual wholesale price increases have hit new record highs, and in October alone, it matched the record high set the month before, spiking 8.6% from a year ago.