Nearly all Americans expect the inflation under Joe Biden’s presidency will worsen still, even as the cost of gas and used cars is already up by 45 percent, and bacon up by 8.4 percent, the Washington Examiner reported Thursday.
“The hashtag #Bidenflation has been trending recently,” wrote Washington Secrets columnist Paul Bedard, noting a new survey from Skynova, an online invoicing firm that found 88 percent of people in the United States believe the current inflation is “here to stay and will soar more.”
Here are the items really driving up inflation:
Car rental 87.7% (y/y change)
Used cars 45.2%
Laundry machines 29.4%
Fresh fish 6.4%
New cars 5.3%
Rent (OER) 2.3%
— Heather Long (@byHeatherLong) July 13, 2021
“Projections shared with Secrets from the Statista Research Department show it increasing at about 2.5% through 2024 and ‘tapering off’ by 2026,” he observed. “It’s currently at about 5.4%.”
According to the Skynova survey of 1,040 respondents, 78 percent reported signs of inflation in their daily lives and 61 percent said inflation is an important political issue.
— Breitbart News (@BreitbartNews) July 13, 2021
Results of the survey are consistent with Tuesday’s report from the Department of Labor that shows the cost for goods and services rose by significantly more than expected in June.
Breitbart News reported:
The Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data were first introduced in 2010. Compared with May, the index rose one percent. On average, this index rose by around 0.2 percent per month in the pre-pandemic Trump administration.
Economists had been expecting an increase of 0.6 percent, below the 0.8 percent initially reported for May. On a 12-month basis, the consensus forecast was for 6.8 percent.
Additionally, the sharp increase in prices since Biden became president has not been accompanied by wage gains, as data from the Department of Labor revealed Friday.
Bedard observed the Skynova survey and similar ones show voters are deeply concerned about the higher costs of items they need and use in their daily lives.
The survey results are revealed “as Biden and House and Senate Democrats are looking to spend $6 trillion more on everything from healthcare benefits to immigration and infrastructure,” he wrote.