Report: Bidenflation Costing Michigan Families Nearly $300 Monthly

Average Michigan households bring in approximately $60,000 a year but inflation is reportedly costing families nearly $300 a month extra as the economy becomes the most important issue for Americans.

According to February’s Consumer Price Index, inflation was at 7.9 percent, the highest in 40 years, MLive.com reported on Tuesday.

“The CPI listed rising gasoline, housing and food costs as the three major contributors to the rising overall rate,” the outlet said.

Meanwhile, the economic situation was the main issue for Americans, and citizens were revolted at how the Biden administration was addressing problems.

Fifty-percent of Americans said the economy and inflation were the top issue they wanted President Joe Biden and Democrats in Congress to focus on, a recent poll from the Wall Street Journal found.

In the era of Bidenflation, it is getting much more expensive for working class Americans to buy a car, drive a car, repair a car, or insure a car. https://t.co/Hh774w1kiu

— Breitbart News (@BreitbartNews) November 13, 2021

“The share of Americans who say inflation is causing a major financial strain on their families rose two points from November to 30 percent. Twenty-eight percent said inflation is causing a minor strain, even with November,” according to Breitbart News.

However, Biden has tried to place the blame on Russian President Vladimir Putin for inflation, the outlet reported on March 14.

“But gas prices were already rising on Biden’s watch before Putin began building up troops in Ukraine and did not spike until Russia actually escalated their invasion,” the article read.

In addition, Americans experienced more difficulty putting food on the table last month as the cost of food surged, Breitbart News reported, listing ground beef, chicken, fresh whole milk, baby food, and bread among others.

First gas, then heating and now rents. Runaway inflation is driving rents skywards across Joe Biden’s America, delivering an average of a 20 percent increase in the U.S.’s biggest 50 cities over the past 12 months, a study details. https://t.co/5j1UgN8y7J

— Breitbart News (@BreitbartNews) February 21, 2022

Increasing prices can result in consumers being more cautious, Tim Nash, who is the director of The McNair Center for the Advancement of Free Enterprise and Entrepreneurship at Northwood University, told MLive.com.

“Frugality and people being worried adds this spiral to the economy in the downward sense,” he commented. “It affects retail, it affects dining and it affects leisure, but then it begins to affect things like the purchasing of a new car or the purchasing of a new home.”

*As an Amazon Associate I earn from qualifying purchases