Groceries, Utilities See Massive Price Hikes in Biden Economy as Job Growth Slows

Higher prices across the board are silencing President Joe Biden’s message on the economy, according to a report from Bloomberg.

That includes everything from groceries to utilities to rent to used cars and pet supplies. In the meantime, growth in job has slowed.

This may not bode well for Biden in the 2024 presidential race — as the economy is generally the No. 1 issue for voters in any election.

Bloomberg reports:

Frankly, it’s hard to find a part of household budgets that’s been spared. Groceries are up 25% and utilities have risen by comparable amounts. Rents are roughly 20% higher. Used cars and the cost to insure them also are up. Inflation has hit house plants and pet supplies as well.

While historic pay gains over the last few years have allowed Americans to keep spending — including this holiday season — inflation has eroded that progress, adding to Americans’ frustration with the economy.

https://www.bloomberg.com/news/newsletters/2023-11-27/higher-prices-are-overriding-biden-s-economic-message

That’s not all.

“While inflation may be slowing, so too is job growth and consumer spending,” Bloomberg wrote. “That all leaves the economy, historically the No. 1 issue for voters in any national election, in a delicate spot. How that all plays out will determine whether Biden heads into the 2024 election with an economy that’s averted a recession or one that’s slipped into a downturn before folks head to the ballot box.”