According to a current AAA National Average report, the average price of gas has doubled since Joe Biden took office, climbing to a staggering average of $4.81 per gallon. In January 2021, the same report revealed that the national average was just $2.39.
The gas price hike comes as no surprise to most people who have been feeling the financial pain at the pump amid rising gas prices and shocking inflation. In March, the Bureau of Labor Statistics released data showing that inflation had rocketed to a 40-year-high, with consumer prices surging to 7.9 percent.
Even worse, many Americans have been experiencing the effects of supply chain problems across the country over the past year, and things only appear to be getting worse. In May, many Americans found themselves unable to find baby formula on store shelves.
President Trump called the baby formula crisis “unthinkable.” He added, “The Democrats are sending another $40 billion to Ukraine, yet America’s parents are struggling to even feed their children. There is a massive formula shortage but no one is talking about it – it is a national disgrace.”
Prominent conservative pundit Kimberly Guilfoyle remarked that 74 percent of baby formula was out of stock in the U.S., adding, “Gas prices have jumped 56 cents in one month.”
The U.S. Department of Agriculture’s (USDA) Food Price Outlook for 2022 found that economy-wide inflation had increased by 0.6 percent from March to April, up 8.3 percent since April 2021. According to their report, food prices are 9.4 percent higher than one year ago.
Additionally, the report projects that “at-home” food prices are expected to increase between 7.0 and 8.0 percent. Food prices away from home (restaurant purchasing) are predicted to “exceed historical averages and the inflation rate in 2021.”