<p>Despite the claims by some that worries about inflation are overwrought, the Federal Bureau of Labor Statistics (BLS) <a href="https://www.bls.gov/news.release/cpi.nr0.htm">revealed</a> Wednesday that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6% in August, rising 3.7% over the last 12 months to an index level of 307.02.  That followed a rise of 3.2% in July in consumer price growth, making that two successive months of price ascension, stoking fears that inflation may be more difficult to reduce than optimistic economists had estimated.</p>
<p style="font-weight: 400;">As a sign of how much the Biden presidency has harmed consumers, food prices <a href="//6D838955-F4C6-4E6F-AB1D-4915F2766E7A/v" target="_blank" rel="noopener">rose</a> 4.9% between July 2022 and July 2023. In August 2022, food’s rate of inflation had risen a whopping 11.4% since the previous August, the highest rate over a month since May 1979. During the Trump presidency, food prices never rose more than 2.1% until the COVID-19 virus struck; in April 2020 they rose 3.5%, rising to 4.5% in June before subsiding to 3.8% in January 2021, when he left office.</p>
<p style="font-weight: 400;">But food prices exploded under Joe Biden, literally <a href="https://www.usinflationcalculator.com/inflation/food-inflation-in-the-united-states/" target="_blank" rel="noopener">tripling</a> from the time he took office until August 2022.</p>
<p>The year-over-year change of the CPI is generally used to determine the rate of inflation. The CPI index level at the end of January 2021, the month Joe Biden was inaugurated, <a href="https://ycharts.com/indicators/us_consumer_price_index#:~:text=Basic%20Info,3.30%25%20from%20one%20year%20ago." target="_blank" rel="noopener">rested</a> at 262.65. In the last year of Barack Obama’s presidency, the CPI-U rose 2.5%, the <a href="//6D838955-F4C6-4E6F-AB1D-4915F2766E7A/v" target="_blank" rel="noopener">biggest increase</a> since 2012. In the four years of the Trump presidency, the CPI-U <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm" target="_blank" rel="noopener">rose</a> 2.1%, 1.6%, 2.5%, and 1.4%. The CPI measures the change in prices paid by consumers for goods and services; the CPI-U represents roughly 93% of the total U.S. population.</p>
<p style="font-weight: 400;">The climb followed a rise of 0.2% in July. The index for gasoline was responsible for over half of the increase in the CPI in August; the food index rose 0.2% in both July and August. The index for food at home increased 0.2% in August; the index for food away from home rose 0.3%. The food index increased 4.3% over the last year.</p>
<p style="font-weight: 400;">To calculate the CPI, BLS collects prices from 75 urban areas across the country; taxes directly associated with the purchase and use of items are included. Price changes are aggregated; data collected locally is combined to ascertain a U.S. city average.</p>

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Bidenflation: Consumer Price Index Jumps Up Again