Home, energy, car and childcare costs have all increased since President Biden took office and there is no end in sight as inflation remains stubbornly high. The latest consumer price index report showed inflation eased slightly in April, rising only 0.3% when economists had expected a 0.4% increase. President Biden welcomed news that core inflation "fell to its lowest level in three years," but acknowledged "we have a lot more to do.
WHY ARE GROCERIES STILL SO EXPENSIVE? For those leaving home, the price of gasoline has risen from an average $2.38 per gallon in Jan. 2021 to $3.61 per gallon, according to the Energy Information Administration and AAA. That's an increase of more than 50%. Gasoline and shelter prices accounted for over 70% of the monthly CPI increase in April. It costs more for Americans to insure their cars as well, with vehicle insurance costs up 51.7% since Biden took office. Car repairs cost 40.
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