Economy

INFLATION NATION: Cost of Beef Rib-Eye Up 40% Compared to Last Year

posted by Hannity Staff - 11.09.21

Shoppers across the country are noticing high prices and limited supplies heading into the holiday season, with some consumers complaining about a 40% increase in the price of some beef items like Rib-Eye Steak.

“Supermarkets say shoppers are buying more store-brand meat products and trading down from beef to less-expensive alternatives such as chicken or pork, after prices for products such as rib-eye climbed about 40% from a year ago, according to research firm IRI. Some consumers are replacing boneless chicken breast with cheaper bone-in chicken, retailers said,” reports the Wall Street Journal.

“Everybody is trying to find something that fits within their wallet,” said Carey Otwell, director of meat and seafood at Mitchell Grocery Corp.

“Food makers ranging from Mondelez International Inc. to Kraft Heinz Co. have been raising prices in recent months to offset escalating costs in labor, raw materials and transportation. Manufacturers and retailers have said consumers have been willing to spend on groceries even as prices creep up because they are cooking more at home and spending less at restaurants. Companies also have said shoppers are buying more high-end items with savings, and stimulus payments from the government,” adds the WSJ.

Read the full report here.

BIDEN'S INFLATION NATION: Inflation Rate Jumps, Highest Since 2008, Prices Up 5.4% in June

posted by Hannity Staff - 7.13.21

The inflation rate in the United States jumped to 5.4% in June as prices for consumer goods soared; posting the fastest pace since 2008 while the economy struggles to recover from the COVID-19 shutdown.

“The Labor Department said last month’s consumer-price index increased 5.4% from a year ago, the highest 12-month rate since August 2008. The so-called core price index, which excludes the often-volatile categories of food and energy, rose 4.5% from a year before,” reports the Wall Street Journal.

“The index measures what consumers pay for goods and services, including clothes, groceries, restaurant meals, recreational activities and vehicles. It increased a seasonally adjusted 0.9% in June from May, the largest one-month change since June 2008. Prices for used cars and trucks leapt 10.5% from the previous month, driving one-third of the rise in the overall index, the department said. The indexes for airline fares and apparel also rose sharply in June,” adds the newspaper.

Read the full report here.

BIDEN: Massive $3.5T Spending Package Will ‘Save the Planet’ and ‘Reduce Inflation’

posted by Hannity Staff - 9.15.21

President Biden pushed his massive $3.5 trillion spending package this week as the proposal stalls in Congress, claiming the bill will “save the planet” and “reduce inflation.”

“Create industries of the future, to win the future, to save the planet. We can do this. This is the United States of America… Never have we failed to meet an objective we set. What’s happening now, is that we’ve set a goal. The goal is achievable,” said Biden.

“I promise you it’s going to create great economic growth, reduce inflation, and put people in a place where people will never have to worry about what we’re worrying about right now,” he added.

 

President Biden’s approval rating dropped to new lows this week over a series of self-inflicted crises impacting the country, including the southern border, Afghanistan, inflation, slow job growth, and his handling of the pandemic.

President Biden’s approval rating dropped to 43 percent amid the fallout of the chaotic U.S. withdrawal from Afghanistan, according to an NPR/PBS NewsHour/Marist poll released Thursday,” writes NPR.

The new statistic is a six point decrease from a poll conducted in August.

“Thirty-six percent of independents approve of the job Biden is doing, compared to 55 percent who disapprove. Meanwhile, 85 percent of Democrats approve of Biden’s job handling, compared to 13 percent who disapprove,” adds the outlet.

Watch the President’s comments above.

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