High inflation during President Joe Biden’s term will result in voters paying significantly higher prices as they cast their ballots in the 2024 election.
Prices since November 2020 have increased by roughly 21%, with year-over-year inflation under Biden peaking at about 9% in June 2022 and decelerating to its current annual rate of 2.4% as of September, according to data from the Bureau of Labor Statistics analyzed by the Daily Caller News Foundation. Price hikes for a slew of products have well-exceeded the overall price rise, including household staples like eggs and butter, which rose by approximately 163% and 50% between November 2020 and September 2024, respectively.
Beef products have also been hit hard by Biden-era inflation, with prices for uncooked beef roasts rising over 31%, uncooked ground beef climbing nearly 27% and uncooked beef steaks increasing approximately 28%, according to BLS. Meanwhile, the price of bread is up over 23% and bakery products up almost 27%.
“Inflation has been one of the most brutal drivers of the pressure being felt by everyday consumers in recent years. Almost nobody can keep up with the cumulative rise in prices,” O.H. Skinner, executive director of the Alliance for Consumers and the former solicitor general of Arizona, told the DCNF. “It’s deeply upsetting to many people when headlines focus on individual inflation prints or annual inflation numbers and don’t recognize that the prices staring at consumers from the store shelves are shocking because the inflation that has cumulatively built up has reshaped the shopping experience in a brutal way.”