How do consumer prices compare in the Biden era with the Trump era 4 years ago?
Prices are up nearly 21% since August 2020
By Eric Revell FOXBusiness
The economy is the top issue for voters as Election Day on Nov. 5 draws near and Americans continue to deal with the economic impact of inflation on the cost of living.
The presidential debate led off with ABC News moderator David Muir asking Vice President Kamala Harris whether Americans are better off than they were four years ago when it comes to the economy. Harris opted against directly answering Muir's question and instead discussed her background and elements of her economic plan.
Americans have struggled with the impact of inflation on their household budgets in recent years. Inflation surged to a 40-year high of 9.1% in June 2022 due to the impact of supply chain disruptions related to the COVID-19 pandemic and elevated government spending aimed at mitigating its impact.
Though the rate of inflation has subsided to 2.5% as of August 2024, Americans' budgets are still stretched due to the price increases that have occurred in the last few years. Compared with four years ago, in August 2020, when the country was in the midst of the pandemic and before inflation accelerated, prices are up just shy of 21%, according to FOX Business calculations.
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https://www.foxbusiness.com/politics/how-do-consumer-prices-compare-biden-era-trump-era-4-years-ago
