30 November 2023
Under President Biden, inflation remains high, with significant increases in food, used cars, and rent prices since 2020. Food prices rose by 25%, used cars by 35%, and rents by approximately 20%. A survey revealed that the average weekly cost of food for a four-person household increased from $238.32 in 2020 to $315.22 in 2023, a 32% jump. Food CPI peaked in August 2022 at 11.33% and has been decreasing as M2 Money growth slows down. Despite these trends, President Biden attributes high prices to factors other than his administration’s policies.