Have you been finding money tight recently? Fox News reports that a recent analysis of inflation, conducted by Moody’s Analytics, has concluded that an average American family is spending an additional $295.45 per month for the same goods it purchased in 2018-19.
This is primarily due to a rapid increase in inflation under US President Joe Biden. In February 2022, the annual inflation rate hit a 40-year-high of 7.9%.
Governments are the primary cause of inflation that can be traced back to reckless government overspending and printing money. In the US, it has been compounded by President Joe Biden’s decision to cut oil production and close down pipelines in the US, which is contributing to higher fuel prices.
NOW FOR THE BAD NEWS: ‘It’s going to get worse’ | Experts warn inflation rates could continue to rise
Even Democrats admit that President Joe Biden is the root cause of US inflation. READ: ‘This is Biden’s inflation and he needs to own it’: Ex-Obama official drops truth bomb as Biden blames Russia