Biden s Food Inflation Crushes Household Budgets
As of September, overall grocery prices have vaulted higher by a stunning 20% in under three years. Looking at some common grocery items unveils even larger price surges in some key staples. For instance, boneless chicken breasts now sell for $4.23/pound on average. But chicken breasts sold for $3.26/pound when Biden took office, so the total inflation increased nearly $1 per pound, or 30% higher. Or take coffee, where the price of ground beans averaged $4.59/pound when Biden took office, but has climbed to $6.09/pound now, for a Biden java increase of 33%.
These retail grocery price levels reflect the massive increases at the wholesale agricultural level, ever since Biden and Republican collaborators on Capitol Hill began an orgy of exorbitant borrowing and spending that sent demand for commodity inflation hedges skyward. Here is a chart of farm commodities as a basket, traded under the ticker DBA, which includes everything from corn to cattle.