To get a clearer picture of what Bidenflation looks like, we need to compare prices between now and when Biden took office. That’s what TIPPinsights did, and the results show you that Bidenflation isn’t just worse than the White House wants you to believe — it’s worse than you might have realized.
Food prices increased by 20.6% under Biden compared to only 2.2% as per BLS CPI, a difference of 18.5 points.
TIPP CPI data show that Energy prices increased by 29.6%. But, according to the BLS CPI, energy prices improved by 1.9%. The difference between the two is a whopping 31.5 points.
The Core CPI measures the price increase for all items, excluding food and energy. In the year-over-year measure, the Core TIPP CPI is 16.5% compared to 3.8% BLS CPI, a 12.8-point difference.
Further, gasoline prices have increased by 29.9% since President Biden took office, whereas the BLS CPI shows that gasoline prices have improved by 3.9%, a difference of 33.8 points.
We had negative oil prices at the start of the pandemic. Less than a year from that, the price of gas hadn’t fully rebounded it peaked in 2022 but has gone back down and stayed around the same prices. But gas has for sure been more expensive under Biden than it was under Trump.
You can blame Biden for some of that but I think most of the blame should be on the fact we have had the Ukraine and Russian war since Feb 2022. The government posts the average gas prices for your viewing