By Corinne Murdock |
Rep. Debbie Lesko’s office showed off this year’s Christmas decorations available to them due to “Bidenflation”: a single, plain sign poking fun at historic inflation rates.
“Due to Bidenflation all we could afford was this crummy sign,” read the sign, with a classic depiction of Charles Dickens’ Oliver Twist begging for more food with an empty bowl of porridge, next to a picture of a Christmas hat-wearing Biden pointing at Twist with the caption “I did that!”
Lesko explained in a post that “Bidenflation” had a detrimental impact on her office’s tradition of decorating for Christmas.
“It’s a long-standing tradition that the second floor of Longworth is decorated for Christmas,” said Lesko. “My staff and I wanted to participate, but with Bidenflation who can afford it?”
The Bureau of Labor Statistics (BLS) reported last month that the Consumer Price Index (CPI) of all items increased by 3.2 percent compared to last year, with food at about three percent higher, all other items at four percent higher, and energy down over five percent.
On Tuesday, the BLS confirmed a .1 percent increase in the CPI last month, noting that overall cost of living reflected in the shelter index offset the decline in the energy index.
The greatest increases occurred in the cost of meals eating out, medical care commodities (drugs, medical equipment, and supplies), and services less energy services including shelter and transportation.
Meals at home increased by 1.7 percent: cereals and bakery products increased by 3.4 percent; meats, poultry, fish, and eggs increased by .1 percent; dairy and related products decreased by 1.4 percent, fruits and vegetables increased by .4 percent, nonalcoholic beverages and beverage materials increased by 2.9 percent, and all other foods increased by 3.3 percent.
Eating out increased by 5.3 percent: full service meals and snacks increased by 4.3 percent, and limited services and meals increased by six percent.
Energy commodities decreased by 9.8 percent: gas decreased by 8.9 percent and fuel oil decreased by 24.8 percent. Energy services decreased by .1 percent: electricity increased by 3.4 percent, while utility gas decreased by 10.4 percent.
Commodities less food and energy commodities sustained their price levels: new vehicles increased by 1.3 percent, while used cars and trucks decreased by 3.8 percent; apparel increased by 1.1 percent; medical care commodities increased by five percent; alcoholic beverages increased by 2.9 percent; and tobacco and smoking products increased by 7.7 percent.
Services less energy services increased by 5.5 percent. Shelter increased by 6.5 percent, with rent of primary residence increased by 6.9 percent and owners’ equivalent rent of residences increased by 6.7 percent.
Transportation services increased by 10.1 percent: motor vehicle maintenance and repair increased by 8.5 percent, motor vehicle insurance increased by 19.2 percent, and airline fare decreased by 12.1 percent.
Medical care services decreased by .9 percent, with physicians’ services decreased by .7 percent and hospital services increased by 6.3 percent.
Under President Joe Biden, the CPI hit a four-decade high last June: a 9.1 percent increase.
Annual inflation rates under former President Donald Trump averaged out to 1.9 percent: 2.1 percent in 2017, 1.9 percent in 2018, 2.3 percent in 2019, and 1.4 percent in 2020. The average annual inflation rates under Biden — factoring in 2021, 2022, and the latest inflation rate from this year — sits at over 5.5 percent.
These increases translate to Arizonans having to spend tens of thousands of dollars more for everyday necessities on average.
A study released earlier this year found that the average Arizona household must spend over $13,300 more to maintain the same standard of living they had in January 2021 — the state with the third-highest averages, just after Utah and Colorado.
The Thanksgiving dinner table may have also looked different this year. This year’s annual American Farm Bureau reported an average cost of $61 for a basic 10-person Thanksgiving dinner, down three dollars from last year but still eight dollars higher than 2021.
The average gas price in Arizona is currently at about $3.30.
Biden administration officials indicated to reporters this week that they anticipate 2024 will bring a continued decline in inflation. The Federal Reserve didn’t modify interest rates on Wednesday; Chairman Jerome Powell indicated that they would cut them next year.
Corinne Murdock is a reporter for AZ Free News. Follow her latest on Twitter, or email tips to corinne@azfreenews.com.
