Inflation is again hitting Americans' wallets harder than it has in years as the U.S. saw its third straight month of rising prices, up 5.4 percent from last year in data released Tuesday — a larger surge than the 5 percent experts predicted. As even Morning Joe and the Associated Press note, that is the "sharpest 12-month inflation spike since June 2008."
The Biden-Harris economy:
— Chris Martin (@chrisjdmartin) July 13, 2021
"Inflation jumped 5.4% in June - that's the biggest rise since 2008"
"Inflation is something Americans are going to be worrying about for quite some time" pic.twitter.com/hhoiDVN4RK
Some Democrats and their media allies say increasing inflation is a sign that President Biden's "build back better" recovery plan is working, but when looking at the items driving inflation, their justification — that Americans are back to normal and active in parts of the economy for the first time since Wuhan coronavirus restrictions hit causing demand do outstrip supply — does not add up.
Love how the media are spinning inflation as a wonderful sign of economic progress under Biden pic.twitter.com/APNj3Kopub
— Joel Pollak (@joelpollak) July 13, 2021
Millions of Americans traveled for the Fourth of July weekend, but that wasn't the first time Americans were on the go this year. Furniture, bacon, fruit, TVs, shoes, milk, and rent were all still being paid for during the pandemic, and are not new post-pandemic activities that entirely validate what Biden's allies claim.
Here are the items really driving up inflation:
— Heather Long (@byHeatherLong) July 13, 2021
Car rental 87.7% (y/y change)
Used cars 45.2%
Gas 45.1%
Laundry machines 29.4%
Airfare 24.6%
Moving 17.3%
Hotels 16.9%
Furniture 8.6%
Bacon 8.4%
TVs 7.6%
Fruit 7.3%
Shoes 6.5%
Fresh fish 6.4%
New cars 5.3%
Milk 5.6%
Rent (OER) 2.3%
Republicans on Capitol Hill responded with criticism for the Biden economic agenda and measures "rammed through" by Democrats, pointing out the apparent justification of their previous concerns about inflation.
"Inflation continued its rapid surge in June, rising its fastest pace in nearly 13 years, the Labor Department reported Tuesday." https://t.co/JXDhgZiPZX
— House Republicans (@HouseGOP) July 13, 2021
?? BREAKING.
— Senate Republicans (@SenateGOP) July 13, 2021
The cost of living rose in June by the largest amount since 2008.
Biden inflation is here.
It’s not a coincidence that Democrats took charge of the government, rammed through the largest so-called “relief” package in American history and now we’re bracing for the highest inflation in decades.
— Jim Banks (@RepJimBanks) July 12, 2021
And they want to spend more! No thanks.https://t.co/KGkduXmKOk
As Townhall has previously reported, Americans experienced the most expensive Independence Day weekend in years earlier this month, despite the White House cherry-picking data to herald a $0.16 cheaper Fourth of July BBQ.
Dear leftists,
— Stephen Moore (@StephenMoore) July 12, 2021
What good is a pay raise if everything you buy is more expensive?#Inflation