Joe Biden’s inept handling of the economy sent food prices soaring last year, crushing the middle and lower classes. But it appears to be about to get worse as 20213 dawns.
Overall, food prices went up 12 percent in 2022, which is much higher than the 9 percent rate of inflation for the year.
But the Consumer Price Index Data from the Bureau of Labor Statistics also found that individual items rose even higher.
Per Just the News:
The BLS index for wholesale prices showed the cost of fresh and dry vegetables skyrocketed this year with a 38.1% increase last month alone. The price for eggs for fresh use rose about 244% in the prior 12 months. A few foods, such as finfish and shellfish as well as beef and veal, saw decreases at the wholesale level, but most others saw double-digit increases.
Those increases outpaced overall inflation. Wholesale prices for all kinds of goods and services increased by 7.4% in the previous 12 months and consumer prices increased 7.1% in the previous 12 months.
President Joe Biden has taken fire for the elevated prices, in particular the price for food and energy.
And as the economy continues to worsen into a recession, these prices will do nothing but go up.
Joe Biden has made life very difficult for middle and lower class Americans.Commentary