Here’s How Inflation Is Punishing Most Americans

The May Consumer Price Index (CPI), which measures inflationary rates, was released Friday morning by the Bureau of Labor and Statistics (BLS) and showed inflation continuing its record-breaking trend of 8.6%, rising another 1%, exceeding the expected increase for the month.  https://www.thegatewaypundit.com/2022/06/breaking-may-inflation-number-higher-expected-8-6-cpi-highest-40-years-since-1981-higher-expected-food-gas-utilities-everything-higher/ There are areas of inflation that have impacted Americans the most, a punishing blow to the working-class taxpayers of the country.

IT’S OFFICIAL! Biden’s Price Hike, Gas Prices Officially Reach $5 Per Gallon Nationwide — Something UNHEARD OF In US History — And Show No Signs Of Easing Up

According to AAA, the average price of a gallon of gas has reached $5 per gallon, the highest national average on record.  The new record-breaking price is more than double the cost of a gallon when President Biden took office when gas was just $2.25 per gallon nationwide and is now $1.93 higher than one year ago.

WATCH: ‘It’s Cheaper To Buy Cocaine And Run Everywhere,’ Said Senator John Kennedy, Slamming Biden’s Out-Of-Control Gas Prices

This week gas prices have reached new record highs, with the average price at the pump reaching $4.97 per gallon Thursday, something that Senator John Kennedy is not willing to overlook.  On Tuesday, the Louisiana Senator took a swipe at Biden and the economy, expressing his comical response to the surging fuel cost across the nation while appearing on Fox News’s Jesse Watters Primetime.  During his interview on the show, Kennedy said, “The price of gas is so high that it would be cheaper to buy cocaine and just run everywhere— Biden is about as popular as a SINKHOLE.” The average price for a gallon of regular gas in the United States is the highest recorded average in the nation’s history, almost $2.50 higher than the average price a year ago.

The Pain Of Inflation Leads Companies To Shrink Products, Not Prices

Manufacturers have continued to reduce portion sizes to keep up with record inflation around the country; experts call it “shrinkflation.”  Some of the recognizable brands to shrink their products in recent months include Charmin, Bounty, and Gatorade, which have been downsized but have retained their previous prices.

A Looming Food Crisis Will Ultimately Impact Americans, Expanding The Effects Of Record Inflation

Wheat prices rose another 6% on a single day recently, approaching highs seen at the start of Russia’s full-scale invasion of Ukraine in February.  The surge in basic food prices, which have gone up over 40% so far this year, is the direct result of sanctions on Russia and the decision by India to institute a ban on exports due to concerns over food security.

Government Officials Blame Biden For Inflationary Surge Hurting Most Americans

Officials in the Congressional Budget Office (CBO) have released reports that squarely place the rate of inflation on President Biden’s stimulus efforts during the height of the COVID-19 Pandemic.  The CBO notes that President Biden is culpable for the record-high inflation creating undue pressure on America’s workforce in its latest annual report.

Whopping 83% Of Americans Say America Is On The Wrong Track Under Joe Biden

A red wave is certain in November’s midterm elections amid a baby formula shortage, historic inflation, the highest gas and food prices in history, collapsing stock markets, the illegitimate commander-in-chief’s dementia on full display and nearly three years of a manufactured COVID emergency.