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Biden has boasted bringing inflation rates down from about 9% earlier in his term to roughly 2.5% currently. While the rate of inflation has slowed, that doesn’t mean prices have decreased.
The latest data, which came out Wednesday after Biden's recent remarks, pegs the current year-over-year inflation rate at 3.4%, a slight downtick from a 3.5% rate in March.
The data gives Harris, via Biden, a clear edge in three categories and Trump an edge in two. You can see how the two compare by clicking on each tab in the charts above. The Biden-Harris economy ...
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
Inflation tends to be a primary concern of American voters and consumers, as inflation rates can make are what cause prices on retail items, vehicles, groceries, gas and more to rise or fall.
The U.S. has seen significantly higher inflation rates since Joe Biden took office: CPI rose by a cumulative 18.49 percent between January 2021 and February 2024.
One bright spot in Biden's inflation record is in the healthcare sector. The cost of medical care has risen just 6.7% over the last three years, with prescription drug prices rising even less.
Biden could have worse problems. Inflation is sticking around because consumers are generally in good shape and willing to spend money. That keeps demand strong and prices taut.