Don’t Buy the Lie: Inflation Is Still Increasing

The fake news regarding inflation seems to be nearly universal right now, as media hacks dutifully repeat the lie that there has been a “decline in inflation.” What you’re NOT being told is that inflation is still increasing—it’s just the rate of inflation that has allegedly slowed. You’re still paying more money.

First, let’s compare the annual inflation rate under Trump to that under Biden, according to U.S. Inflation Calculator: 2.1% (2017), 1.9% (2018), 2.3% (2019), 1.4% (2020), 7% (2021), 6.5% (2022), 3.7% (2023 YTD). Notice the massive increase from 2020 to 2021? Of course, Covid-19 lockdowns really damaged the economy, but Biden has done quite a bit of sabotaging on his own. Now, let’s look at the average annual inflation rate based off the U.S. Department of Labor (DOL) Bureau of Labor Statistics’ Consumer Price Index (CPI-U), which is even worse for Biden in 2022, though not in 2021, where Biden spent the first few months benefitting from Trump’s economy: 2.1% (2017), 2.4% (2018), 1.8% (2019), 1.2% (2020), 4.7% (2021), 8% (2022).

By the way, sometimes economists and the government play around with how they calculate inflation to make it look less catastrophic than it actually is. MRC Business reported last month, debunking inflation claims from leftist hack Paul Krugman, that “ongoing inflation has caused prices to skyrocket more than 17 percent higher on average since President Joe Biden first took office. That trend has not reversed.” That’s based on a CPI calculation from Heritage Foundation. The problem of inflation isn’t being “solved,” especially since Americans’ real wages have consistently gone down under Biden.

With real wages dropping, inflation rising on average more than 17% higher, world war looming, and no sign that the Biden administration will be changing its disastrous policies, Americans can unfortunately expect to continue to become a lot poorer.