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Many Republicans have blamed stimulus spending by Biden and fellow Democrats for fueling the surge; economists argue that the government's COVID stimulus during 2020 under Trump, as well as the Federal reserve's inactions, and more stimulus under Biden, started the 2021 inflation spike. [158]
Inflation began surpassing income growth just as Biden took office in 2021 and never stopped until the start of 2023. That held true even though wages rose faster under Biden than during Trump’s ...
Inflation tends to be a primary concern of American voters and consumers, as inflation rates can make are what cause prices on retail items, vehicles, groceries, gas and more to rise or fall.
Under Biden, the same index has risen from 13,197.18 on the day of his inauguration to 16,315.70 as of close of market on March 26, 2024, a rise of 24 percent. Grocery Prices
Writing in The Washington Post, Phillip Bump explained that for Trump's first term as of September 2019, performance on several key variables was comparable or below Obama's second term (January 2013 – September 2016), as follows: 1) Real GDP was up 7.5% cumulatively under Obama, versus 7.2% under Trump; 2) The total number of jobs was up 5.3 ...
That’s nearly four times faster than inflation under the same period of time for Trump, with prices rising 5 percent between his inauguration in January 2017 and May 2020. Biden vs. Trump's ...
More than two-thirds (68%) of economists recently surveyed by The Wall Street Journal said prices would be higher under Trump than under Vice President Kamala Harris.
Despite the challenges of the pandemic, inflation remained low, on average, throughout Trump’s presidency. Joe Biden (2021-24) Average Annual Inflation Rate: 5.7%