Consumer Price Index (CPI) rose 8.5 percent in July compared to last year, according to the Department of Labor.
Although economists expected the CPI to rise to a rate of 8.7 percent, they predict inflation won’t slow down anytime soon.
A poll conducted by The Economist/YouGov, it found that 46 percent of Americans are bracing for a higher rate of inflation six months from now.
Just 21 percent of pollsters believe it will be the same, and a mere 18 percent say it will be lower.
In no surprise, Democrats were quick to dissolve any fears that the price of products and gas will go up, with 34 percent squashing that idea.
However, 64 percent of Republicans and 51 percent of Independents predict Americans will be paying more in the next six months.
As the economy continues to take a hit, the Biden administration repeatedly refrains from taking responsibility for being the reason Americans are struggle to put gas in their cars and feed their families.
This week, Democrats passed their $760 billion spending bill that several economists predict will drive Bidenflation up, despite touting that it will “help” the economy.
Contrary to its name, Rep. Jim Banks (R-IN) said that the Inflation Reduction Act details “the 50 most radical policies in the Inflation Reduction Act,” and helps every woke policy except combatting inflation.
Inflation is affecting every American in the U.S., whether that’s at the gas pump, grocery store or purchasing everyday necessity items. They have had to cut back on summer plans because housing, transportation and utilities are wreaking havoc on their wallets.
Yet, the Democrats continue to push off criticism and doubt by sweeping it under another hefty bill.