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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 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 ...
Inflation in New Zealand exceeded forecasts in July 2022, reaching 7.3%, which is the highest since 1990. [232] Economists at ANZ reportedly said they expected faster interest rate increases to counteract inflationary pressures. [233] In Fiji, inflation rose to 4.7% in April 2022 compared to –2.4% in 2021. [234]
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.
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.
Inflation began surpassing income growth just as Biden took office in 2021 and never stopped until the start of 2023. That held true even though wages rose faster under Biden than during Trump’s ...
Joe Biden (2021-24) Average Annual Inflation Rate: 5.7%. While Joe Biden’s presidency isn’t over yet, it has been characterized by a period of high inflation. During the early parts of his ...