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.

READ: Inflation costing average American household nearly $300 per month: report AND Inflation rises to yet another new 40-year high in February

NOW FOR THE BAD NEWS: ‘It’s going to get worse’ | Experts warn inflation rates could continue to rise

OIL AND GAS RELATED: Democrats block bill that would restart Keystone pipeline, boost US energy production

GOVERNMENT SPENDING RELATED: Senate sends massive $1.5 trillion spending package to President Biden even as Americans get hammered by soaring inflation

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