Recent economic data shows that American consumers are continuing to get hit with sky-high grocery costs, posing a significant strain on household budgets.\u00a0 Per the Department of Labor, grocery prices rose for the second consecutive month in August.<\/p>\n
The \u2018food at home\u2019 metric within the consumer price index increased approximately 0.2 percent last month following a 0.3 percent increase in July.\u00a0 Since the beginning of Joe Biden\u2019s presidency, food prices have been one of the biggest drivers of inflation.<\/p>\n
According to\u00a0Breitbart<\/a>, there have only been three months of Joe Biden\u2019s entire presidency where food prices didn\u2019t increase.\u00a0 This follows nearly a decade of relatively stable grocery prices.\u00a0 The cost of food isn\u2019t showing much sign of declining as it remains significantly elevated, even with cooling inflation data since last year.<\/p>\n According to the latest\u00a0report<\/a>, inflation saw a spike in August, breaking a cooling streak many hoped would lead to interest rate cuts from the Federal Reserve.\u00a0 Headline inflation, a view of all domestic prices, jumped more than expected, rising 3.7 percent year-over-year.<\/p>\n Core inflation, which strips out more volatile prices such as food and energy, increased 4.3 percent year-over-year, matching expectations.\u00a0 Furthermore, supercore inflation, which excludes food, energy, and housing, rose 4.05 percent year-over-year.<\/p>\n It doesn\u2019t take a degree in economics to observe that the state of the American consumer has been dire over the past few years.\u00a0\u00a0The American Tribune reported on the opinion of one economist who claimed the \u201cAmerican Dream\u201d has morphed into a \u201cnightmare\u201d<\/a>\u00a0largely because of the impact of Bidenomics.<\/p>\n E.J. Antoni, a research fellow in regional economics with the Heritage Foundation, slammed Biden\u2019s economic agenda after the president claimed that his plan was \u201crestoring the American dream.\u201d<\/p>\n \u201c<\/strong>The way I look at it, Bidenomics is just another way of saying \u2018restoring the American Dream,\u2019\u201d<\/em>\u00a0Biden\u00a0said<\/a>\u00a0on Tuesday.\u00a0 He also alleged that Americans \u201caren\u2019t just finding more jobs,\u201d but they\u2019re getting \u201chigher-paying jobs.\u201d<\/p>\n \u201cRestoring the American Dream?\u201d<\/em>\u00a0Antoni questioned.\u00a0\u201cThat\u2019s an utterly appalling claim for an American president to make right now, given the state of the housing market. The American Dream is owning your own home, and the policies of this administration have made that all but impossible for nearly an entire generation of Americans.\u201d<\/em><\/p>\n Former President and 2024 challenger Donald Trump weighed in on the disaster of Bidenomics, stating it is leading the United States into a \u201cGreat Depression.\u201d<\/p>\n