A new report put a price tag on how Bidenflation is impacting the average American household.
While Joe Biden has been taking credit in recent months for âbringing downâ inflation, what heâs really bragging about is a decelerating in the rate of inflation, not a decline in inflation. After all, prices arenât coming down, theyâre just going up at a slower rate than they were at their worst.
As Fox Business reported:
Americans are spending $709 more per month on everyday goods and services than they did two years ago, according to Moody's Analytics.
Moody's chief economist Mark Zandi made the statement Friday on X, formerly known as Twitter, as part of his analysis of July's consumer price index report.
"To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago," Zandi wrote.
Zandi did say he believes that inflation was set to moderate further going forward - though that of course does nothing to undo the cumulative damage Biden has already done.
Matt Palumbo is the author of Fact-Checking the Fact-Checkers: How the Left Hijacked and Weaponized the Fact-Checking Industry and The Man Behind the Curtain: Inside the Secret Network of George Soros
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