We're beginning a new series of Let's Roll America reports. The focus is on the crushing impact that soaring inflation is having on everyday Americans. I want to hear from you. Tell me how inflation is impacting your family and how your coping with it. Email your stories to me at email@example.com. Here's a preview. Thanks.
The rising price of food, gasoline, home heating bills and a wide range of goods and services cost people an extra $300 a month in 2021. An extra $300 a month to buy the same stuff as they did the year before. 2022 is even worse. Life is costing somewhere between $500 and $700 more per MONTH. Prices are rising at an annual rate of 10% rate. How are consumers coping? Are they paying the extra amount? Pprobably not because very few people have that kind of extra money swishing around in their checking accounts. In all likelihood, you and and everyone you know is cutting back somehow, somewhere. So, what are you not doing, what you not buying because there's no money to buy it after paying for gas, food and utility bills?
Rising prices are crushing the average family. Inflation is a hidden tax on consumers. It robs them of buying power. When the Consumer Price Index (CPI) gets into the five to six percent range on an annual basis, that’s trouble for just about everyone. That’s where we are now. In trouble. Consumer Prices jumped 7% in 2021. This year they are rising at an annual rate of 10% rate. Why? The Biden Administration's goal is to raise energy prices as part of its Climate Change policy agenda. Prices have been going up for more than a year. And it's all by design. So, those stickers you see at the gas pump that show Biden's picture with the words, "I did that," he really did!