The Biden-Harris administration faces criticism as food prices hit all-time highs. Grocery costs have risen 22% since 2020, while restaurant prices are up 27%.
Despite claims of subsiding inflation, the affordability of essentials like housing and transportation remains a critical issue. These have also increased by 27%.
With elections nearing, rising costs of living are a major concern. Americans are working multiple jobs to cope.
The U.S. dollar’s purchasing power has dropped by 25% since the Biden-Harris administration took office.
The rising cost of everyday items extends beyond food to other necessities, contributing to financial strain for many households.
The grocery retailer Kroger rakes in billions in profits as Americans struggle to afford the rising food prices. The company’s most recent annual gross profit was $33.36 billion, a 5% increase from the prior year.
The Bureau of Labor Statistics recently revised job growth numbers, decreasing the total jobs added by nearly one million.
Inflation’s persistence complicates the Federal Reserve’s decisions on interest rates, delaying potential cuts.
Over the past decade, food prices have increased 30% at home and 51% at restaurants, marking significant long-term inflationary trends.
Affordability, inflation, and job security are top concerns for voters heading into the 2024 presidential election. These economic challenges are expected to be central in the political debate leading up to November.
