Average American Household Spending Nearly Ten Thousand Dollars Extra Per Year Thanks To Inflation

Every single time you shop anywhere, inflation is glaringly obvious as prices are not what they were even a year ago, and the further into Joe Biden’s presidency America goes, the worse it gets.

Sadly, the average household in the United States is paying a whopping $717 more per month for expenses than they were in 2021, according to the Joint Economic Committee (JEC) Republicans.

According to the Consumer Price Index, prices have climbed 8.5 percent – the supply chain being in tatters thanks to covid lockdowns, contributing the bulk of the price hikes for commodities – housing, healthcare and cars also shot up in price.

In January 2021, inflation was sitting at 1.4 percent and in comparison, to prices in July 2022, the JEC Republicans found that even though inflation slowed between June and July of 2022, compared to a year and a half before, the situation has become much worse.

“While prices did not change from June to July 2022, prices increased 13.3 percent from January 2021 to July 2022, costing the average American household $717 in July 2022 alone,” their report said.

Fox Business noted that even if inflation suddenly stopped rising along with prices, the average American household has already forked out an additional $8,607 because of the already existing inflation.

Of course, those with the lowest incomes or those on fixed incomes, are the first to suffer – suddenly almost an extra $10,000 is needed every year just to scrape by – a number not easy to come by when you are already stretched to the limits.

In July, according to the CPI report, prices for groceries and other staples went up by 1.3 percent and the labor market is suffering too, as increased wages are quickly sucked up by inflation, making no one any better off.

RSM chief economist Joe Brusuelas said, “While the boost to overall economic prospects is welcome, easing inflation will ring hollow with many down-market consumers whose wages are falling in real terms.”

Energy prices began to decline in July, but they are still up 32.9 percent from the previous year and gas prices, despite dropping by 7.7 percent, are still up by 44.9 percent from July 2021.

Because Democrats never have any really good ideas, they have now passed the “Inflation Reduction Act” that, according to experts, will do little to nothing to curb inflation and will in fact, make it far worse.

Of course, Democrats would think it was a good idea to try to spend their way out of poverty – that’s socialism after all. The damage will also take a very long time to undo.

“Inflation will only decline at a painfully slow pace. Food and energy inflation are wild cards. Although inflation should peak soon, the broadening and stickiness of price pressures imply headline CPI will only fall to 6.5 percent this year, before the recession accelerates the decline in 2023.” According to Seema Shah, chief global strategist at Principal Global Investors.

5 thoughts on “Average American Household Spending Nearly Ten Thousand Dollars Extra Per Year Thanks To Inflation”

  1. I don’t understand how this lying sick degenerate is allowed to remain president along with all of the creeps that r with him. Why is he still in office when it’s so obvious he destroyed this country and still doing so he only cares about China and Ukraine he wants us to bow to him like he is God. Brandon u need to go live in China and take all your regime with u.

  2. Joe hasn’t accomplished one POSITIVE thing during his 50+ years in Washington. Joe needs to be tried for treason.

  3. Our tax money paid for this administration is totally wasted! There is nothing beneficial being done for the American people. (Only more to destroy us.) Latest example: The covering of college for youth…..we will see this one coming back to bite us and GOOD….all it will do is make people who already strived to put their own kids through college be strapped for money (and also making those not able to afford to send their kids to college, pay for others.) Starting to make sense now? No…I didn’t think so! Not only was our election in 2020 overturned by foreign countries and domestic dark forces (swamp creatures) – it showed us exactly who these creatures that dominate us now are. Aliens!! They are surely not Americans!! They are literally killing us! We would be wise to vote every D out in November!!!

  4. The Deomocrats got away with stealing the 2020 election, Nothing has been done about that! What’s to keep the Democrats doing it again 2022 or 2024?

    All this crap they continually push through doesn’t affect them or their families. These idiots making these horrible decisions for the American people will long be dead and unaffected if and when the damage may ever be corrected!

  5. How can we have an honest election when so many states still use the corrupt Dominion machines? Universal mail in ballots are another scheme that is rife with corruption. As is “ballot harvesting”. Everyone talks about the coming “red wave” in the mid terms. It won’t happen if the same corruption that put Biden in office isn’t stopped.

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