It comes as no surprise to anyone who pays for everyday necessities like food, rent, and gasoline that prices continue to rise. The newly released Consumer Price Index shows inflation rose 3.5% over this time last year, which is higher than the predicted 3.0%.
Today the typical American household spends approximately $270 more each month on basic items than they did one year ago, and a shocking $1,037 more per month than they did three years ago, according to Moody’s Analytics. That was in 2021, before inflation shot up to 9.1% in 2022.
E.J. Antoni, research fellow in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told CBN News the Biden administration is to blame for high inflation.
“It’s simply the government spending too much money. Because the government also controls our currency, and that’s a deadly combination. We’ve seen that over the…
