Inflation continues to be a major issue plaguing the Biden-Harris administration, with grocery prices being hit especially hard. This is causing widespread concern among Americans, as polls consistently show that inflation is their top concern. The cost of “food at home,” or groceries, has increased by over 21 percent under the current administration.
The impact of this rise in food prices cannot be overstated. A recent YouGov poll found that 77 percent of Americans consider inflation a “very important” issue, while another Financial Times poll revealed that 78 percent of registered voters say inflation has been one of their top sources of personal financial stress.
Food inflation is a major contributor to this stress. Seventy-eight percent of voters in the Financial Times poll said food inflation was significantly impacting their financial situation. Despite White House attempts to downplay the issue by highlighting recent moderations in price increases, grocery prices have still skyrocketed under Harris’s watch. Her tie-breaking votes in the Senate played a crucial role in pushing through trillions of dollars in spending, which many economists argue contributed to the inflation crisis.
The first 42 months of the Biden-Harris administration have seen the largest increase in food inflation since Jimmy Carter’s time in office. This ranks as the third largest increase over the first three-and-a-half years of a presidential term ever recorded, with data going back to 1952. In comparison, grocery prices rose by just 6.3 percent during the first 42 months of Donald Trump’s presidency.
Food prices continue to rise, with the index for food increasing by 0.2 percent in July and up 0.1 percent for the category covering groceries. This marks the second consecutive month of rising prices following four months of negative readings on the consumer price index for food at home.