Written by Stephen Moore on Nov 10, 2021. Posted in Latest news
Americans Are Paying A Steep Price For Biden’s War On Energy
gas prices soarWhen is Joe Biden going to admit that the inflation problem with rising prices for everything from gas to groceries to new cars to apartments and homes isn’t getting better, it’s getting worse?
The government just reported that yearly producer prices are up more than eight percent from just a year ago. When producer prices rise, those costs are soon and inevitably passed on to shoppers in higher consumer prices.
Gas prices nationally are up $1.31 a gallon from last November and don’t be surprised if $5 a gallon isn’t around the corner.
For tens of millions of Americans who aren’t rich, “transitory” inflation is feeling more like runaway inflation. Worker pay is rising at about four percent — that’s the good news.
The bad news is consumer prices are rising closer to six percent, which means in purchasing-power terms, paychecks are shrinking.
https://climatechangedispatch.com/americans-are-paying-a-steep-price-for-bidens-war-on-energy/
