Tag: inflation

As Food Prices Soar with No End in Sight, Americans Change Habits

The Center Square

Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.

The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”

The report found “46% are either dining out less or consciously spending less when dining out.”

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Tennessee Gas Prices Hit All Time High, Expected to Keep Climbing

Peter D'Abrosca

Gas prices reached another all-time high in Tennessee Friday, and according to the American Automobile Association (AAA), they are only expected to continue rising. “While drivers might have seen a small break in pump price increases this holiday weekend, we could be looking at the calm before the storm for gas prices,” Megan Cooper, a spokeswoman for AAA, reportedly said. The average price for a gallon of gas in Tennessee was $4.39 on Friday, the highest ever recorded in the state. That price jump represents a 12-cent increase over the past week alone, and a 48-cent jump over the past month. A year ago, the average cost of a gallon of gas was $2.88. Nashville has been hit the hardest, where on Friday, the average cost of a gallon of gas was $4.44, five cents higher than the state’s average. Clarksville clocked in at $4.43 per gallon on average, just behind the state’s capital city. “A dip in gasoline demand provided drivers with a bit of stability at the pump, as the national average for a gallon rose less than three cents over the past week to reach $4.62. But this respite could be brief,” AAA said in a news…

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Survey Suggests Pennsylvanians Back Free-Market Reforms, Believe State Economy Needs Improvement

Bradley Vasoli

A new survey released Thursday by the Commonwealth Foundation (CF), a Harrisburg-based think tank, suggests Pennsylvanians broadly support free-market reforms the institute urges policymakers to embrace. 

CF publicized its Better Pennsylvania 2023 Plan, a list of 23 such recommendations, in conjunction with the poll. Executive vice president Jennifer Stefano said the foundation plans to distribute the agenda to state lawmakers and candidates for public office. She believes the ideas’ implementation will “restore hope to our citizens across the commonwealth and set us on a better path that allows all Pennsylvanians to flourish.”

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‘I Was Wrong’: Biden’s Treasury Sec Admits She Bungled Inflation Prediction

Admin

United States Treasury Secretary Janet Yellen admitted she was wrong in the past about her inflation predictions during an interview with CNN’s Wolf Blitzer.

“I think I was wrong then about the path that inflation would take,” Yellen told Blitzer Thursday on “The Situation Room” in response to 2021 comments where she claimed inflation would be “a small risk.”

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Poll: Most Americans Blame Biden for Rampant Inflation

Admin

Most Americans believe President Joe Biden’s policies are the leading contributor to inflation in the U.S., a recent poll found.

The poll, conducted by the Trafalgar Group and the Convention of States Action from May 25 – 29, asked respondents to choose whether they believed Biden’s policies and spending or the war between Russia and Ukraine contributed more to inflation. The survey found that 59.9% of respondents blamed Biden’s policies and spending for inflation, compared to 31.6% who blamed the war between Russia and Ukraine and 8.5% who were unsure.

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Democrats Worry About Spike in Obamacare Premiums Ahead of Midterms

Admin
Obamacare

As Democrats head into the November midterms with historically low approval ratings, another major factor could arise that will further contribute to the shrinking of their already-slim majorities.

As reported by The Hill, the Affordable Care Act – known colloquially as “Obamacare” – could face a significant increase in premiums due to a lapse in special funding provided by the coronavirus aid bill passed last year. That bill, known as the American Rescue Plan, temporarily increased financial assistance for Americans seeking healthcare through Obamacare; the increase was set to expire just one year after the bill’s passage.

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Kemp Ponders Extending Georgia Motor Fuel Tax Suspension

The Center Square

Georgia Gov. Brian Kemp has not said whether he would seek to extend the state’s motor fuel tax suspension when it expires at the end of May. However, during a Wednesday morning interview with an Atlanta radio station, the governor indicated an announcement might be looming.

“I know Georgians need it; they’re getting killed at the pump right now, and they’re getting killed at the grocery store because of [President Joe] Biden’s 40-year high inflation, and quite honestly, … just bad policies in Washington, DC, like our domestic energy supply policy,” Kemp, a Republican, told WSB Radio.

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Gas Prices Hit Record High Every Day for Past Two Weeks

The Center Square

Gas prices have soared to new heights this month with the price of unleaded regular gas hitting a record high every day for the past two weeks. With Memorial Day weekend approaching, motorists face steep costs if they plan to travel.

According to AAA, the national average regular unleaded gas price Tuesday came in at $4.60, a record high. Diesel gasoline is at $5.55 per gallon, just below the record set last week.

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Rep. John Rose Commentary: Inflation Is the Invisible Tax

Admin

Inflation is an invisible tax that Tennesseans have to pay each and every day. Everywhere you look, inflation is wreaking havoc. At the gas station: gas is up 48 percent. At the grocery store: beef is up 20 percent, chicken is up 15 percent, butter is up 14 percent, fruits and vegetables are up 7 percent, and coffee is up 12 percent. At home: electricity is up 11 percent, furniture is up 15 percent, and rent is up 5 percent. What about a vacation? You still won’t be able to escape inflation as hotels are up 29 percent and flights are up 23 percent.

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Commentary: Biden Needs to Take the Blame for Inflation

RealClearWire

Last week, President Biden gave a speech listing everyone and everything allegedly responsible for record high inflation. His list included corporate greed and price gouging, Vladimir Putin, and “ultra-MAGA” Republicans. The president said that his policies, and the nearly $7 trillion in spending he authorized, have nothing to do with inflation.

None of this holds up under scrutiny. While President Biden claims that corporations are ripping off Americans, the costs of their supplies have been increasing at a record rate. In reality, many companies that Biden claims are stiffing consumers have actually lost money because they don’t want to alienate their customers by raising prices too quickly.

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Commentary: Americans View the Accomplishments the Biden Administration Attempts to Celebrate as Catastrophic

Admin

If an administration deliberately wished to cause havoc on the border, to ensure fuel was nearly unaffordable, to create a crime wave, to spark 1970s hyperinflation, and to rekindle racial tensions, what would it have done differently than what Joe Biden has done? 

So is Biden malicious, incompetent, or a wannabe left-wing ideologue? 

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Connecticut Families Can Soon Get Child Tax Credit

Bradley Vasoli

Gov. Ned Lamont (D) and other Connecticut public officials announced on Thursday that families will soon get access to the state’s new child tax credit.

About 300,000 postcards went into the mail yesterday advising families of how to apply for the relief which comes at $250 per child and up to $750 per family. Qualifying recipients include single tax filers with children and with income under $100,000 annually as well as couples with children filing jointly who make under $200,000 yearly in total. Those with incomes above those levels may, however, succeed in securing some relief.

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Majority of Americans Say They Are ‘Falling Behind’ Rising Cost of Living

The Center Square

The majority of Americans feel they cannot keep up with the cost of living as inflation and the price of goods continue to rise, according to new polling data.

A poll from NBC News asked Americans, “Do you think that your family’s income is … going up faster than the cost of living, staying about even with the cost of living, or falling behind the cost of living?”

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Commentary: Joe Biden vs. We the People

Admin

The Biden Administration last June unveiled its “National Strategy for Countering Domestic Terrorism.” Despite its anodyne-sounding name, the “national strategy” was anything but anodyne. The pamphlet represented the logical culmination of the Left’s cynical use of the January 6, 2021, U.S. Capitol riot as a means of ginning up large-scale, nationwide anti-Republican/anti-Trump voter sentiment.

The result, evinced again by Attorney General Merrick Garland’s disgraceful October 2021 memo directing the FBI to intrude on local school board meetings and crack down on anti-critical race theory parental revolts, has been a roiling cold war waged by the ruling class against us “deplorables” and our political “wrong-think.”

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Michigan Baby Formula Plant Closure Squeezes Supply

The Center Square

Michigan moms and babies relying on a steady supply of baby formula are joining families nationwide stymied by supply chain issues, product recalls, and record 40-year high inflation that’s left many baby formula shelves bare.

Lynn Sutfin, Michigan Department of Health and Human Services spokeswoman, said the problem affected about 85% of the more than 200,000 people in the Women, Infant, and Children (WIC) program that gives recipients about $30 to $112 or more per month.

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Virginia Commonwealth University Will Raise Tuition in 2022-2023 Academic Year

Peter D'Abrosca

As consumer prices and inflation soar, a public university in Virginia has decided to raise the cost of tuition before the next academic year. 

“The Virginia Commonwealth University Board of Visitors voted Friday to set tuition and fees for the 2022-23 academic year. Tuition will increase by 3%, the first tuition increase for undergraduate students since the 2018-19 academic year,” Virginia Commonwealth University (VCU) said in a Friday statement. “The increase is necessary to cover VCU’s share of anticipated salary increases for faculty, staff and adjuncts; to increase student support; and to address the higher costs of maintenance and utilities.”

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Vance Reacts to Ryan’s Vote to Send $40 Billion to Ukraine

Peter D'Abrosca

Ohio’s Republican U.S. Senate nominee Thursday raised against a bill that will send $40 billion to Ukraine, citing problems that the United States has domestically. 

“I don’t think we should be spending any more money, unless it’s on America’s problems here at home,” J.D. Vance said Thursday. “I would make any additional aid for the Ukrainians conditional on sending money to the American southern border, on actually trying to fix this terrible shortage of baby formula and hospital supplies.”

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Biggs, Lesko Slam Biden for Ending American Oil Lease Sales

Peter D'Abrosca

Amid surging gas prices and 40-year high inflation, a congressman Thursday reacted to the news that the Biden Administration has canceled domestic oil and gas lease sales. 

“Biden just canceled massive oil and gas lease sales in Alaska and the Gulf of Mexico amid historic gas prices. Just wait for him to blame Putin for all of this!” Rep. Andy Biggs (R-AZ-05) said on Twitter.

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Inflation Slowed in April, but Prices Continued Their Steady Increase

The Center Square

Inflation continued its steady rise in April, when the Consumer Price Index increased 8.3% over last year, according to data released Wednesday by the U.S. Bureau of Labor Statistics.

For the month, the CPI rose 0.3%. That’s down from the 1.2% spike in March, but higher than analysts expected. The 8.3% increase over last year remains near 40-year highs, the bureau reported.

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Portman Slams Biden After President Blames Republicans for Record Inflation

Peter D'Abrosca

A U.S. Senator from Ohio Tuesday slammed President Joe Biden for record gas prices and sky-high inflation after Biden blamed Republicans, despite the fact that Democrats control both chambers of Congress and the White House. 

“The Biden admin & its policies are responsible for the soaring inflation we see today. Inflation has risen every single month since [Biden] took office. The admin’s reckless spending policies combined with increased regulation have caused the worst inflation in 40 years,” Sen. Rob Portman (R-OH) said. 

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Commentary: Inflation Can’t Be Censored

Admin

An increasingly disturbing feature of American politics is the routine suppression of major news stories that reflect poorly on candidates favored by the Fourth Estate. The most egregious example in recent years occurred in October of 2020 when corporate news outlets and social media platforms colluded to bury a New York Post article on Hunter Biden. Fortunately, some stories just aren’t susceptible to such censorship. Inflation is a case in point. It can’t be hidden from the voters because soaring prices shout the bad news from every grocery store shelf and gas pump in the nation.

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Georgia Democrat Labor Groups Express Opposition to Biden Energy Policies

Aaron Gulbransen

Several Georgia-based labor groups, which are traditionally Democrat in both endorsements and membership, have sent letters to the Biden administration urging them to change course on policies that have resulted in rising inflation and higher gas prices.

The Atlanta North Georgia Labor Council, Coalition of Black Trade Unionists – Atlanta Chamber, and UFCW-Retail Wholesale and Department Store Unions have all sent letters to the Biden administration expressing their displeasure with current energy policies, expressing the plight of their membership in relation to inflation and fuel prices, and demanding a change of course.

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Shrinking GDP Could Hurt Georgia Economy as Recession Fears Rise

The Center Square

A shrinking gross domestic product could cost Georgia taxpayers and is likely to hurt middle-class Georgians in particular as the country appears headed toward a recession, a non-profit policy group said this week.

“The tab is coming due for all the reckless stimulus spending during the COVID-19 pandemic,” Erik Randolph, director of research for the Georgia Center for Opportunity, said in a statement. “The declining GDP in the first quarter is the strongest indicator yet that our nation is headed into a recession.”

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Fed Report: Inflation Passed on to Consumers, Will Continue for Months

The Center Square

Newly compiled data from the Federal Reserve shows that inflation is hurting businesses, costing consumers, and likely not going away anytime soon.

The Federal Reserve released its “Beige Book,” a report that compiles reports from “Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources” from the 12 Fed districts around the country.

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Poll Most Americans Agree on Who to Blame for Inflation

Admin

A majority of Americans now blame President Joe Biden for surging inflation after he attributed the crisis to Russia’s Ukraine invasion and the COVID-19 pandemic, according to a poll conducted by Public Opinion Strategies, which was commissioned by Americans for Prosperity.

The poll, which was conducted between April 12-18, found that 61% of Americans blame Biden for the widespread price increases, while 75% of respondents reported that inflation impacted their purchasing decisions over the last 12 months.

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Commentary: ‘Genocide’ Is Not a Throwaway Term of Abuse

Admin

Soaring inflation is leaving Americans battered and bruised—and not just inflation in prices. Inflation in rhetoric is also doing a number on the people of our republic.

We’ve seen it unfold with depressing regularity. Donald Trump was a “fascist dictator,” we were told. The Capitol riot was a “coup” and an “insurrection.” Climate change poses an “existential threat” to all life on earth. And, just this past week, after failing to get the legislative redistricting map he wanted from the state Supreme Court, Wisconsin’s Democratic Governor Tony Evers declared: “At a time when our democracy is under near-constant attack, the judiciary has abandoned our democracy in our most dire hour.”

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Inflation Hits 10.9 Percent in Metro Phoenix, Highest of Major Metro Areas and Substantially Above National Average

Rachel Alexander

Inflation is soaring under the Biden administration, and it’s even worse in Phoenix. The Bureau of Labor Statistics reported that inflation in metro Phoenix jumped 10.9% from February 2021 through February 2022, significantly more than the national average increase of 8.5% and higher than any other major metro area. This is one of the highest levels reported for Phoenix, the Common Sense Institute found.

The 8.5% inflation rate is the highest in the U.S. in 41 years. In 2020, the last year of Donald Trump’s presidency, it was only 1.5%. It began spiking as soon as Joe Biden entered office. The main goods driving the spike nationally are food, gas, and housing. 

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